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Strategy:
Equity Strategies
Sector:
P&C Insurance
Transaction Type:
Balance Sheet Capitalization; Growth
Status:
Current
Investment Year:
2023
Geography:
United States
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Trusted Resource Underwriters / Trusted Resource Underwriters Exchange (TRUE)
TRUE is a reciprocal insurer established in 2020 to serve homeowners nationally, including storm-prone regions such as Florida.
In December 2023, Gallatin Point acquired a majority stake in the attorney-in-fact for TRUE. As part of the acquisition, Gallatin Point is investing over $1.25 billion, enabling it to not only provide underwriting capacity in Florida at a crucial time, but also allow it to strategically expand its footprint nationally.
"The support from Gallatin Point and their investors is a testament to the confidence in our collective vision and capabilities. We are focused on delivering reliable protection to homeowners and expanding our footprint nationally."