Mitsui Sumitomo Insurance Company Acquires Transverse Insurance Group from Virgo Investment Group
August 10, 2022
Mitsui Sumitomo Insurance Company, Limited (MSI) has agreed to acquire Transverse Insurance Group, a U.S.-based hybrid fronting carrier backed by Virgo Investment Group, pending regulatory approval. Virgo sold the business after building Transverse since 2018; the founders remain in leadership and MSI said the acquisition will accelerate its U.S. presence and expand distribution and product capabilities.
- Buyers
- Mitsui Sumitomo Insurance Company, Limited (MSI)
- Targets
- Transverse Insurance Group
- Sellers
- Virgo Investment Group, Virgo Societas Partnership IV, Co-investment vehicles / partner investors
- Industry
- Insurance
- Location
- New Jersey, United States
- Transaction Type
- Buyout
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