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Newport Specialty Partners is a private equity firm based in Southlake, Texas, focused on acquiring and empowering small to mid-sized Managing General Agents (MGAs) within the property and casualty insurance sector. Founded with the backing of Lovell Minnick Partners, a private equity firm with over twenty-five years of experience in the insurance and financial services industries, Newport aims to drive operational excellence and innovation in the MGA market.
The firm is led by CEO Dennis DiCapua, who brings over 40 years of experience in the insurance industry, having held senior roles at prominent companies such as AIG and Reliance National. Newport Specialty Partners is actively building a platform of MGAs, although specific portfolio companies have not been publicly disclosed. The firm operates from its office located at 550 Reserve Street, Suite 190, Southlake, TX 76092.
Newport's commitment to enhancing the unique identities and market presence of the MGAs it supports is a key aspect of its strategy. The firm seeks to establish lasting partnerships that allow MGAs to thrive in a competitive market.
Newport Specialty Partners specializes in investing in small to mid-sized Managing General Agents (MGAs) within the property and casualty insurance market. The firm’s investment strategy emphasizes preserving the unique identities of MGAs while providing them with the necessary resources to scale effectively. Newport offers strategic guidance, operational support, and access to additional financial resources and technology, enabling MGAs to achieve sustainable growth.
The firm targets MGAs that demonstrate growth potential and specialized underwriting capabilities. Newport believes that the MGA market is outpacing the overall property and casualty industry in growth, presenting opportunities for rapid market entry and focused distribution. Their approach includes enhancing MGAs' capabilities through industry relationships and technological advancements, ensuring that these entities can innovate and compete effectively.
Dennis DiCapua, CEO - Dennis has over 40 years of experience in the insurance industry, having held senior roles at AIG, Reliance National, and Clarendon Insurance Group. He has founded and managed multiple MGAs prior to his role at Newport.
Ron Austin, Executive Vice President - Ron brings 40 years of insurance experience, previously serving as EVP at Amwins and President of Worldwide Facilities.
David A. Jordan, Retired Executive - David is a 44-year veteran in the industry, formerly CEO of Breckenridge IS, and has led teams at Lexington/AIG and W.R. Berkley.
Greg J. Massey, Consultant - Greg has over 40 years of experience, previously heading Zurich's Program/MGA division and holds a CPCU designation.
Hank Haldeman, President of Worldwide Programs - Hank has 40 years of experience in wholesale and specialty insurance, previously serving as President of Amwins Worldwide Programs, which wrote over $3 billion in premiums.
Kelly Drouillard, Industry Consultant - Kelly has 35 years of experience in carrier operations and M&A, facilitating over $1 billion in M&A transactions and serving as faculty in insurance education.
John Peppard, Senior Underwriting Manager - John has 40 years of experience in reinsurance, with prior roles at Partner Re, Constitution Re, and SCOR Re.
To pitch Newport Specialty Partners, founders should send an email to info@newportspecialty.com. A comprehensive pitch deck is essential, detailing the business model, market opportunity, and growth strategy. Founders should expect a response within a few weeks, depending on the volume of inquiries.
Warm introductions are preferred but not mandatory. Newport values clear communication and a well-structured presentation of the business opportunity.
What are Newport Specialty Partners' investment criteria?
Newport Specialty Partners focuses on acquiring small to mid-sized Managing General Agents (MGAs) in the property and casualty insurance sector. They look for MGAs with strong growth potential and specialized underwriting capabilities.
How does a startup apply or pitch to Newport Specialty Partners?
Startups interested in partnering with Newport Specialty Partners can reach out via email at info@newportspecialty.com. A detailed pitch deck outlining the business model, growth potential, and unique market identity is recommended.
What differentiates Newport Specialty Partners from other investors?
Newport Specialty Partners emphasizes preserving the unique identities of MGAs while providing them with strategic guidance, operational support, and access to additional capital and technology. This approach allows MGAs to scale effectively while maintaining their market presence.
What is Newport Specialty Partners' geographic focus?
The firm primarily focuses on the United States, specifically targeting MGAs within the property and casualty insurance market.
What kind of post-investment involvement does Newport Specialty Partners have?
Newport Specialty Partners provides ongoing operational support and strategic guidance to its portfolio companies, helping them to innovate and grow sustainably.
What is the typical check size for investments made by Newport Specialty Partners?
Specific check sizes are not publicly disclosed, but Newport provides additional financial resources to support the growth of MGAs.
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