Trident IV to Enter California P/C and Benefits Market
Trident IV L.P. a private equity fund managed by Stone Point Capital, is committing up to $100 million to form Edgewood Partners Insurance Center, a new property/casualty and employee benefits brokerage headquartered in San Mateo, California. Plans are to have six offices in Northern and Southern California up and running by the year’s end.
The new brokerage firm will be headed by John G. Hahn, who is leaving his post as president of BISYS Commercial Insurance Services in San Francisco on June 30th, and Dan R. Francis, who spent the past 10 years in several key executive positions, including most recently as CEO of ABD Insurance Services Inc., a subsidiary of Greater Bay Bank Corp.
Hahn in an interview said that Edgewood will focus specifically on high-tech, biotechnology, real estate, construction and hospitality risks. The company will also establish a “significant” employee benefits brokerage business, he said.
Stone Point Capital is a global private equity firm that has raised over $8 billion of committed capital. Stone Point Capital primarily targets investments in the insurance and financial services industries including, insurance underwriting, distribution and services, benefits and healthcare, asset management and retirement savings, and banking and depository institutions.
Published on June 8, 2007
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