Axis insurance managers receive a financial boost

Axis Insurance Managers announced that it has received a “significant” growth investment from funds managed by Lee Equity Partners, a growth-oriented middle market investment firm specializing in investments in the financial services and healthcare industries.

The partnership with Lee Equity strategically positions Axis Insurance for long-term success and growth and complements the company’s existing shareholder base, he said. As part of the transaction, Axis Insurance founder and CEO Alex Meier retained a majority of his shares in the company.

“Our team is excited to partner with an experienced financial services investor with deep knowledge of the insurance industry,” said Alex Meier, president and CEO of Axis Insurance. “We have made great progress in building an exceptional, nationwide company. The investment partnership with Lee Equity will provide an incredible opportunity to accelerate our growth and realize our vision of being best in class in every category of our industry.

“Axis Insurance is an emerging leader in specialty commercial insurance with an impressive growth track record. The company has great potential to become a leading national broker in the Canadian market, said Mark Mauceri, partner at Lee Equity.

“We are extremely impressed with the thoughtful approach Axis Insurance has taken to building a market-leading company, and we are pleased to be working with Alex and the Axis leadership team to capitalize on the many opportunities ahead,” added Mark Gormley, partner at Lee Equity.

Lee Equity and its principals have experience investing in the insurance industry, including investments in Captive Resources, McLarens, K2 Insurance, Simplicity Group and Universal American, among others.

Did you get value from this story? Sign up for our free daily newsletters and get stories like this delivered straight to your inbox.