New York private equity firm Aquiline Capital Partners has completed a deal for Equity Insurance Group.
Equity Insurance, based in Brentwood, England, provides motor insurance through Equity Red Star and Equity Syndicate Management Ltd. The company was sold by Insurance Australia Group (ASX: IAG). Terms of the deal were not disclosed.
Macquarie Capital (Europe) Ltd. acted as Aquiline’s financial adviser for the deal.
Aquiline focuses on investment in the financial services industry, including insurance, banking, specialty finance, securities asset management and financial technology. In March, the firm partnered with Genstar Capital LLC to buy Genworth Wealth Management for $412.5 million.
For more M&A coverage on the insurance sector, see “Insurance Industry Experiences M&A Uptick.”