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/PRNewswire/ Obsidian, an A.M. Best rated "A-" hybrid fronting program carrier, launched a partnership with Integrated Specialty Coverages, LLC ("ISC"), a.
Investment Firm KKR Acquiring California’s Integrated Specialty Coverages March 8, 2021
Global investment firm KKR is acquiring a majority interest in Integrated Specialty Coverages (ISC) Carlsbad, Calif.-based multi-line insurance distributor that utilizes advanced artificial intelligence (AI) engineering and data analytics to build its products.
Sightway Capital, a Two Sigma private equity business that partnered with ISC beginning in 2018, is selling its majority position and will continue to hold a stake in the ISC as a minority shareholder.
Financial terms of the transaction were not disclosed.
Founded in 2017 by insurance veteran Matt Grossberg, ISC connects a network of insurance markets and retail/wholesale distribution channels through the use of AI, proprietary technology and data analytics to deliver customized insurance programs for agents, brokers, carriers and reinsurers. ISC currently writes approximately $300 million of speci