Liberty Co. Brokers Secures US$340 Million in Funding Led by J.P. Morgan, RBC and Fifth Third Bank
Liberty Co. Brokers Secures US$340 Million in Funding Led by J.P. Morgan, RBC and Fifth Third Bank
The Liberty Company, a prominent property/casualty insurance broker headquartered in Florida and renowned as one of the largest in the nation, has triumphantly unveiled its accomplishment in securing a substantial US$340 million funding injection.

This impressive funding, originating from a consortium led by financial heavyweights such as J.P. Morgan, Fifth Third Bank, and Royal Bank of Canada, is poised to play a pivotal role in the company’s multifaceted strategy of debt refinancing and propelling fresh avenues of growth.

Marking the zenith of an extraordinary two-year period characterised by unparalleled expansion, the company stands proud as a beacon of success. The annals of 2022 bore witness to Liberty’s remarkable navigation through the acquisition of a staggering three dozen entities, effectively solidifying its position as a noteworthy player in the insurance domain. Furthermore, the robust organic growth trajectory, soaring at an impressive rate of 47%, bolstered the company’s stature even further.

In a resounding declaration underscoring its meteoric rise, the privately-held entity divulged in a recent press release that its earnings for the fiscal year culminated at a remarkable $149 million. This staggering figure represented a threefold increase compared to the preceding year, emblematic of the undeniable prowess that Liberty has harnessed to carve its niche in the insurance landscape.

Liberty’s strategic acumen was recognised by OPTIS Partners, a distinguished entity specialising in tracking brokerage and agency mergers and acquisitions. Notably, the company secured the eighth position on OPTIS Partners’ coveted list of the top 20 acquirers in 2022.

This recognition placed Liberty in close proximity to industry stalwarts like BroadStreet Partners and World Insurance Associates, further underscoring its rise to success.

Liberty also claimed 33 acquisitions for the year, whereas OPTIS Partners’ tally differed. The precise cause of this divergence remained shrouded in mystery.

2022 saw Liberty managing three times the number of mergers executed in the preceding year, surpassing its own historical benchmarks. In the broader landscape of the insurance industry, a staggering 987 agency acquisitions were recorded as per the exhaustive OPTIS report.

Liberty’s visionary founder and CEO, Bill Johnson, indicated that the trajectory of growth might well be poised to continue, reaffirming the company’s dedication to setting new industry standards and fortifying its vanguard position.

A statement released by Liberty said: “In addition to M&A activity, Liberty intends to use this capital to continue to build out its resources to drive more organic growth though its practice groups and industry specialisations, MGA/program offerings, employee benefit and human capital management resources, risk management services and other initiatives.”

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