Private equity firm AnaCap Financial Partners has invested in MRH Trowe (MRHT), a German commercial lines insurance broker.
Financial details about the deal were not shared, other than the fact that it was a “significant growth investment”.
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AnaCap will now be part of the MRHT management team as a strategic growth partner.
The management will continue to be the largest shareholder group in the business.
The insurance broker intends to use the fresh capital to speed up an acquisitions pipeline. It also plans to invest in data management, technology application, as well as talent using the infusion.
With the private equity backing, MRHT also aims to further its digitisation plan.
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By GlobalDataAnaCap plans to support the development of the broker’s hybrid distribution model of tailored personal insurance broking, digital and online customer portals, claims settlement, reporting and cross-selling, among others.
AnaCap partner Tassilo Arnhold said: “The longer-term outlook for the insurance broking market in the DACH region is compelling. Our strategy is to partner with an excellent management team and to bring our experience of growth execution, as well as technological innovation in the insurance sector more generally, to support this outstanding growth opportunity.
“We anticipate working in tandem with the MRHT team over the coming years to accelerate a successful buy-and-build strategy in this attractive market.”
With a workforce of 470, MRHT serves industrial and commercial customers along with affluent private customers.
The firm has a network across 12 cities in Germany and has exclusive tie-ups with over 100 German savings banks.
MRH Trowe co-founder Ralph Rockel said: “AnaCap has significant experience in the insurance market as well as a proven track record in building leading businesses both organically and through acquisition in the DACH region.
“In addition, their expertise in the application of enabling technology will help us continue to gain market share and margins. We look forward to a dynamic outlook together.”
In 2019, AnaCap picked a majority stake in Danish digital health insurance platform SundhedsGruppen from its founders.
