Vistria acquires MGA platform Lumen
Vistria Group announced the acquisition of Dallas-based managing general agent Lumen Holdings, establishing the company as a new platform investment within its financial services strategy.
Founded in 2019, Lumen underwrites commercial property, builders’ risk, commercial general liability, personal auto, homeowners, and umbrella across more than 30 states. The MGA distributes through a nationwide network of wholesale and retail brokers and has launched multiple de novo programs supported by carrier capacity.
At the center of Lumen’s operations is KURRENT, a proprietary underwriting and distribution platform that manages submissions, policy processing, renewals, and portfolio analytics. The company recently expanded the system with digital capabilities for personal lines.
Following the transaction, Albert Benchimol, former CEO of AXIS Capital; Mark Smith, former President of K2 Insurance Services; and Brian McDermott, former CIO of Victor Insurance, will join Lumen’s board.
“I am incredibly excited to partner with Boris, Mike, and the Vistria team. Their conviction in what we are building at Lumen and the value MGAs bring to the market aligns perfectly with our strategy: to continue building a best-in-class, diversified MGA focused on strong underwriting performance and supported by cutting-edge technology. Vistria is the perfect partner to help take Lumen to the next level as we look to recruit underwriting talent and support new program launches on the KURRENT platform.” – Scott Whitaker, Founder and CEO of Lumen Risk Services .
“A key part of Vistria’s Financial Services strategy is focused on partnering in essential, regulated markets where expertise and infrastructure drive performance and this investment reflects several years of work around the evolution of the specialty MGA market. We believe specialty MGAs are increasingly well-positioned as carriers seek focused underwriting partners with data-driven infrastructure and strong distribution relationships, and Lumen exemplifies that model.” – Boris Rapoport, Senior Partner and Co-Head of Financial Services at The Vistria Group.
“Scott and his team have built a disciplined platform with meaningful scale and a clear runway for expansion. Lumen’s proprietary technology, underwriting rigor, and diversified distribution network create a strong foundation for continued growth.” – Mike Castleforte, Senior Partner and Co-Head of Financial Services at The Vistria Group.