ClearView Risk Holdings, LLC, has received a $23m investment from GCP Capital Partners LLC (GCP).
With the investment, GCP has acquired a controlling interest in the company, whose principal subsidiary is Southwest Risk, LP, a Dallas, Texas-based wholesale insurance broker that specializes in certain property and casualty coverages, including real estate and construction risks.
Following the transaction, Southwest Risk will change its name to ClearView Risk and Bryan Wilburn, founder and CEO of Southwest Risk, and his management team will lead operations. Prior to this investment, the company was wholly owned by Houston International Insurance Group, which co-invested along with Mr. Wilburn.
ClearView Risk provides insurance services to retail agencies with risks located throughout the United States. It specializes in transactional placements of commercial property and casualty coverages, along with the development and implementation of niche programs using traditional and alternative risk transfer strategies.
Commenting on the transaction and on the plans of the company, Mr. Wilburn said: “I am excited to partner with GCP as our company embarks on its next growth phase….As ClearView Risk, we plan on growing into an even larger, more diverse wholesale broker, offering a wide variety of property and casualty placements throughout the U.S.
“This expansion will benefit our retail agents, insurance carriers and insureds by increasing our ability to offer them creative solutions to their risk management needs”.
According to Wilburn, the company will grow both organically and through strategic acquisitions.
FinSMEs
29/12/2010