Coaction Specialty Secures ~$200 Million in Growth Capital

The capital raise will be used to support growth as Coaction continues its transformation into a full-service specialty insurance company.

(Ford Mansion, Morristown National Historical Park. Image credit: Acroterion/Wikimedia Commons.)

Coaction Global, Inc., (Morristown, N.J.) a privately-held specialty insurance group, has completed a ~$200 million capital raise to support growth as Coaction continues its transformation into a full-service specialty insurance company, according to a statement from the company. The equity raise was led by existing investors, TowerBrook Capital Partners L.P. (London/New York) and Further Global Capital Management (New York).

Jonathan Ritz, CEO, Coaction.

“This new capital will support our continued growth and demonstrates the strong ongoing support of our investor group,” comments Jonathan Ritz, CEO, Coaction. “We have made significant progress executing our transformation plan over the past two years and continue to see abundant opportunities in the market to deploy the additional capital in a prudent and disciplined manner.”

Coaction reports that, since its formation, it has established an entirely new senior executive team, expanded its capabilities with new underwriting divisions, broadened distribution relationships, and enhanced its data and analytical capabilities. The company says its success to date has been driven by combining product, analytics, and underwriting capabilities with strong industry knowledge and partnerships. Today, Coaction writes over $1 billion in annual premium across its Casualty, Excess Casualty, Multiline, Executive Lines, Property, Entertainment and Binding Authority verticals.

Sidley Austin LLP (Chicago) is serving as legal advisor for the transaction. Truist Securities, Inc. (Atlanta) is acting as lead arranger on debt financing for the transaction.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at or (503) 936-2803.

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