F&S Ventures Sold its Minority Stake in Insight to IAT Insurance

F&S Ventures sold its 47% stake in Insight Catastrophe Group (ICG) to IAT Insurance

• Transaction announced and closed on January 5th, 2016
• IAT and ICG further solidified long-standing business relationship with this strategic transaction
• Terms of the transaction were undisclosed

Insight Catastrophe Group (ICG) is an MGU, insurance portfolio advisor and software provider

• SageSure Insurance Managers is one of the largest residential property MGUs in the US with over $140 million of premium inforce
• Insight Catastrophe Managers provides insurance portfolio advisory and software solutions
• ICG leverages proprietary technology across its platform to enable superior client results
• Led by Chairman & CEO Andrew DiLoreto and President & COO Terrence McLean

F&S Ventures is a private insurance-focused holding company

• Founded by insurance industry veterans Rod Fox and Jim Stanard

IAT is a global diversified (re)insurer with over $1 billion in annual written premium

• Offers a broad range of both personal and commercial lines P&C products
• Writes business through eight operating companies, all rated A- by A.M. Best
• The company is led by CEO William Cunningham

ICG’s executive management will maintain majority ownership and independence

TCMA acted as financial advisor to F&S Ventures

• Provided a thorough review of F&S strategic alternatives related to its minority stake in ICG
• Provided initial & ongoing valuation analysis
• Offered key insight around key transaction terms & conditions
• Assisted in transaction negotiations