Virgo Investment Group Announces Sale of Transverse Insurance Group to Mitsui Sumitomo Insurance Company

Image of SAN FRANCISCO and ANGEL, Oga. 10, 2022 /PRNewswire/ — Virgo Investment Group (“Virgo”), a private equity firm with a history of building and transforming businesses, today announced the sale of Transverse Insurance Group (“Transverse” or the “Company”), a US-based, hybrid insurance company, to Mitsui Sumitomo Insurance Company, Limited (“MSI”), pending Regulatory Approval.

Transverse was founded in 2018 by Virgo and co-founders Erik Matson and Dave Paulson. Since its inception, the company has grown rapidly to more than 50 professionals, taking a large share of the US market.

“We take a flexible and collaborative approach at Virgo, starting businesses in the most visible areas when the opportunity is right,” said Virgo founder and CIO, Jesse Watson. “We identified the premium segment in 2018 as a growing and underserved market in which to create competitive differentiation, and we are proud of how we built Transverse from the ground up to provide MGA and reinsurance customers with new options. With Erik and Dave remaining at the helm, Transverse has the opportunity to continue to grow its customer base.” his is the arrival of companies under the umbrella of MSI. the insurance market.”

Erik MatsonThe Chairman, CEO and Co-founder of Transverse added, “Working together with Virgo to raise funds and grow Transverse has allowed the Company to rapidly change and succeed in a leading industry. I am grateful for the opportunity that Virgo provided and I am excited about this next chapter. I hope leveraging the investment strategy, international experience and deep knowledge of the MSI team to enhance the offering for our customers.”

“Erik, Dave and Virgo have made Transverse a proven player in the insurance market, and we are excited to partner with the Company as part of our development at MSI,” he said. Johan Slabbert, CEO of Amlin Distribution Holdings Inc in MSI. “This acquisition will allow Transverse to accelerate its competitive advantage by gaining access to more product lines and new distribution opportunities, serving the evolving and long-term needs of MGAs and reinsurer partners better. We look forward to working with them to help continue their growth and help strengthen our presence in the US market.”

Transverse was founded using funding from Virgo Societas Partnership IV along with investment vehicles.

Opinions of the company Virgo Investment Group
Founded in 2009, Virgo is a privately held private equity firm California which has a proven track record of building and transforming businesses. Virgo aims to identify and grow unique businesses into profitable and profitable leading companies. The company has gone up a bit $1.9 billion from the beginning.

About Transverse Insurance Group
Transverse Insurance Group is a hybrid fronting carrier that supports the program, MGA, and reinsurance markets with offices in. new York, New Jerseyand Texas. Transverse is backed by Virgo Investment Group and other investors. Established in 2018 by Erik MatsonCEO, and Dave Paulson, President, Transverse is a global leader in coordinating and supporting partners through access to risk and other funds in the legal and supplemental sectors. For more information, please visit www.transverseinsurance.com.

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Opinions of the company Virgo Investment Group
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SOURCE Virgo Investment Group