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