Esurance
Answer Financial
Ownership Period:
2000 – 2011
Headquarters:
San Francisco, California (Esurance)
Los Angeles, California (AFI)
Sector:
P&C Insurance and Technology
Esurance is a leading direct-to-consumer auto insurance carrier in the U.S. Answer Financial (AFI) is the largest online insurance broker in the U.S. White Mountains sold Esurance and AFI to Allstate in 2011.
Investment highlights:
- Acquired Esurance in 2000 in transaction sourced by former Fireman’s Fund executive Gary Tolman
- Funded platform development and growth over investment period
- Strategic acquisition of AFI in 2008 optimized customer conversion rates and acquisition costs
- Sold to Allstate in 2011