Stone Point Capital & Insight Partners complete CoreLogic acquisition

Stone Point Capital & Insight Partners complete CoreLogic acquisition

Insurance coverage and reinsurance focused private equity firm Stone Point Capital LLC and New York venture and private equity company Insight Partners have finished their approximately $5.9 billion acquisition of CoreLogic, the residential or commercial property threat modelling, data and analytics company.The acquisition offer was announced back in April, supplying CoreLogic with a path to leave the unsolicited quotes and activist investor attention it had actually been getting, by securing 2 new investor partners to takeover the firm.
As of today, funds managed by Stone Point Capital and Insight Partners have acquired CoreLogic for $80 per share in money and as a result its shares have ceased trading on the New York Stock Exchange, with the modelling and information firm taken private.
CoreLogic is well-positioned to play a leading function as a danger modeller in the reinsurance and insurance-linked securities (ILS) area and its EQECAT designs have been used in some catastrophe bond issues for many years.
In addition the company has a wide-range of home information services, which can provide more granular risk associated insights to ils, insurance coverage and reinsurance market participants.
The new financiers will no doubt have aggressive targets for the business and intend to take more market share from the other main disaster threat modellers.
After this acquisition, CoreLogic will still be headquartered in Irvine, California, and its management team led by President and CEO Frank Martell remains in place and will continue to operate CoreLogic as a private company.
Frank Martell commented, “Today marks a major turning point in CoreLogics history as we move to catch the lots of chances in front of us to accelerate our growth and improvement as a privately held firm. The whole team is thrilled and eagerly anticipating working carefully with Stone Point and Insight Partners to develop on our record financial and operating efficiency and provide options that help millions of people discover, buy, and safeguard their homes each year.”
Chuck Davis, CEO of Stone Point Capital, added, “Stone Point is enjoyed work with the CoreLogic management group to support the Companys next stage of growth. CoreLogic is a mission-critical vendor and information provider throughout industry sectors in which Stone Point has actually specialized over the past 20 years, consisting of mortgage, property real estate and P&C insurance coverage. Our company believe our financial services domain competence and our partnership with the management group can speed up CoreLogics momentum as it provides new ingenious options to its customers.”
Deven Parekh, Managing Director at Insight Partners, also said, “We are delighted to partner with the gifted team at CoreLogic as the business continues to innovate across the realty environment. Insight Partners has a strong track record of partnering with market-transforming business like CoreLogic, and we look forward to active participation in this next chapter in its advancement.”

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