NSM Insurance Group
Ownership Period:
2018 – 2022
Headquarters:
Conshohocken, Pennsylvania
Sector:
Insurance Distribution
NSM (now named Novacore) is a full-service managing general underwriting agency and program administrator for specialty property & casualty insurance, including specialty transportation, real estate, social services and pet. NSM manages all aspects of the placement process on behalf of its carrier partners, including product development, marketing, underwriting, policy issuance, and claims.
Investment highlights:
- Acquired controlling stake from Abry Partners in 2018
- Supported six bolt-on acquisitions and invested in organic growth of core businesses
- Closed all-cash sale to Carlyle in 2022