Boston private equity firm TA Associates has closed an investment in insurance processing company Insurity Inc.
Insurity, headquartered in Hartford, Connecticut, provides processing, data integration and analysis services to more than 100 insurance companies. Terms of the investment were not disclosed.
TA Associates has invested in more than 440 companies. The firm recently closed an investment in Idera Inc., which provides performance monitoring software. Before that, in September, TA invested in another insurance operation Groupe Cipres which provides insurance policies in France.
San Francisco private equity firm Genstar Capital is also invested in the company, and sold a significant stake to TA. Genstar has about $3 billion in capital commitments. Genstar bought the insurance software business of LexisNexis in 2011 and rebranded it as Insurity.
Other insurance-related deals include Confie Seguros' deal for three insurance brokerages in November, and GTCR-backed AssuredPartners Inc. bought Casualty Assurance of Chaska.
Spurrier capital Partners acted as Insurity's financial adviser, and Ropes & Gray provided legal advice. Goodwin Procter LLP was TA's legal adviser.