Creating the Eagle American Insurance Agency with DCP

 

EagleAmericaOctober 1, 2012 Dowling Capital Partners (DCP), a private equity firm focused on investing in insurance and related services and distribution companies, today announced the formation of Eagle American Insurance Agency (Eagle American) in partnership with Florida-based Insurance Office of America (IOA), one of the largest privately-held agencies in the U.S.  Eagle American will pursue an acquisition strategy of personal lines agencies and books of business, predominantly along the Eastern Seaboard. Simultaneously, Eagle American announced the closing of its first two acquisitions – Keys Insurance Services and The Johnsons Insurance Agency, two Florida Keys-based personal lines agencies. “We are pleased to announce this partnership with IOA and Eagle American’s first two acquisitions,” said David Zwiener, Senior Partner of DCP. “We view personal lines distribution as an attractive sector of the insurance industry, and we are excited about the opportunities upon which Eagle American will be able to capitalize.” John Ritenour, Chairman and Founder of IOA, added “IOA’s existing agency network and infrastructure will provide critical oversight to Eagle American, as well as a steady pipeline of acquisition opportunities. We look forward to working with the team at DCP to build out Eagle American’s capabilities in the personal lines space.”   About Dowling Capital Partners (DCP) Dowling Capital Partners is a private equity fund that invests primarily in the insurance industry, including underwriters, distribution firms and service companies. Collectively, the management of DCP has over 80 years of senior level industry experience, including insurance-related private equity investment management, investment banking, industry research and operational and board-level roles within major insurance, reinsurance and brokerage companies. Formed in 2011, DCP’s financial partners include highly regarded insurance industry organizations and professionals. DCP provides its portfolio companies and co-investors with industry expertise, broad relationships and operating experience. DCP’s affiliates include Dowling & Partners Securities and Dowling Hales, leading insurance industry-focused equity research and investment banking boutiques. The firm is based in Farmington, CT. For additional information, please visit www.dowlingcapitalpartners.com.