Canada-based Oracle Insurance coverage Danger Administration Companies (Oracle RMS) has secured an funding from Abry Companions, a non-public fairness agency primarily based within the US.
Monetary specifics of the transaction stay undisclosed.
The Canadian insurance coverage brokerage has been serving a consumer base of greater than 60,000 by means of its close to 40 branches and a workforce comprising greater than 300 insurance coverage professionals since its inception in 2011 by John Ferraro and Michael Di Nardo.
The corporate gives each business and private strains insurance coverage, equivalent to residence and auto, life and group advantages for company purchasers.
Ferraro mentioned: “This partnership with Abry Companions marks an thrilling new chapter for Oracle RMS. Abry’s funding is a powerful vote of confidence within the distinctive expertise of our folks, the power of our confirmed enterprise mannequin, and our long-term imaginative and prescient for progress throughout Canada.”
Oracle RMS management crew retained “vital” fairness stake, with the present administration proceed to function the enterprise.
The transaction was suggested by KPMG Company Finance, which served because the unique monetary advisor to Oracle RMS.
Abry principal David Coneway said: “We had been extremely impressed by Oracle RMS as a enterprise, however even more-so by its folks and tradition. The corporate embodies the client-first ethos and entrepreneurial spirit which have lengthy outlined distinctive brokers and combines it with a ardour for assembly the evolving wants of its valued insurance coverage markets. We’re thrilled to associate with John and Mike to additional help their progress.”
Abry Companions, recognized for its specialisation within the insurance coverage distribution sector, has a historical past of supporting retail brokerage platforms throughout North America.
In November 2024, Abry Companions and BHMS Investments divested Innovisk Capital Companions to Ryan Specialty.
