Aquiline backs UK-based insurance intermediary Ripe Thinking
Private investment firm Aquiline Capital Partners is acquiring a majority stake in Ripe Thinking , a UK-based digital underwriting and insurance distribution platform.
Founded in 1997, Ripe serves a variety of customers across both personal and small commercial lines and has over 280,000 policyholders. It offers coverage for specialty products including golf, boats, and caravans, as well as coverage to small business owners. Its technology enables customers to “build their own policy” via an “optimized online journey.”
Following this investment, Aquiline will work closely with the company’s management team to continue and accelerate the build of a market-leading digital insurance distribution platform. Ripe’s management team will continue to be led by CEO Paul Williams and Founder & Managing Director John Woosey, who will retain a significant equity stake, and Marketing Director Sarah Jones.
“The way people buy insurance is changing . As more individuals turn to online platforms to purchase insurance, Ripe offers a simple process for buying policies online while still ensuring quality coverage at a good value. We believe that John, Paul, and their team have built a high-quality and scalable digital platform that can identify customer demands, and design and distribute products to address these efficiently. We are excited to partner with them through the next phase of their journey.” – Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline.
“We are excited to partner with Aquiline, whose deep understanding of the UK and global insurance markets, and their track record of supporting technology-enabled businesses will allow us to further develop our offerings to our customers and continue to build out our underwriting and distribution capabilities. This partnership is a testament to the work of our incredible team who have delivered our strong and consistent growth year after year. The investment will allow us to accelerate our ambitions for international growth while still effectively and efficiently serving our customers across the UK.” – John Woosey, Founder and Managing Director of Ripe.
“Aquiline is an ideal partner to support Ripe through our next phase of growth. The investment will allow us to further expand the capabilities of our industry-leading technology platform and reach customers through new and innovative channels. Aquiline and Ripe share a strategic vision for the company and I am excited to lead the business through its next phase of growth.” – Paul Williams, Chief Executive Officer of Ripe.
