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Insurance Private Equity

We believe that the insurance industry’s vast scale, fragmentation, complexity and inefficiency create the opportunity for compelling end-to-end investment opportunities across the industry value chain and business cycle. Our team has decades of experience investing and executing complex transactions across multiple-sub-sectors of the insurance industry, including Life, Health & Annuity, Property & Casualty, Distribution, Insurance Services and Insurance Technology (“InsurTech”).

Our insurance investing business represents a continuation of the firm’s successful development of geographically focused and sector-specific private equity businesses. We believe that our team’s expertise and efforts in supporting and building management teams are enhanced through the ability to leverage Bain Capital’s 35+ years of experience.

We focus on three core deal archetypes, many of which are bespoke and require specific networks and skillsets to source and implement:

Corporate Transformations

Investments in the form of management partnerships, often with mutual companies, carveouts, or turnarounds.

Typically take the form of management partnerships, demutualization, complex carve-outs, and turnarounds, often driven by strategic changes, mismanagement, ratings, regulators, and shareholders. These opportunities can allow Bain Capital Insurance to capitalize on the industry’s inefficiencies and allow for maximum utility of the insurance value creation playbook. Through our extensive network of regulators, public and private insurance management teams, and advisors, we believe we can be a sought-after partner of choice for mid-market insurance companies and boards seeking to drive or catalyze strategic change.

Platform Builds

Pioneering approaches to launching new insurance platforms in fragmented sub-sectors.

This strategy requires deep research in order to identify sectors with distinct synergies and scale advantages where significant valuation rerating can occur, driven by pricing, growth and productivity gains. These opportunities typically start by partnering with leading management teams who have specialized insurance expertise to execute on the consolidation of a fragmented subsector or a niche product-specific opportunity that offers the potential for excess returns.

Inflection Capital

Opportunities arising at clear inflection points of a company’s evolution, driven by supply / demand imbalances, evolving business models and shifting industry landscapes.

These dislocations are often followed by extended periods of time where new capital can earn excess returns and achieve premium valuations as "pure-plays" unburdened by legacy issues. In these situations, Bain Capital Insurance will seek to deliver its full scope of resources to create value through growth acceleration, product development and/or corporate management transition.

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