Vistria, a middle market private investment firm with deep sector expertise across essential industries, announced the acquisition of Lumen, a technology-enabled Managing General Agent headquartered in Dallas, Texas.
Founded in 2019, Lumen underwrites commercial property, builders’ risk, commercial general liability, personal auto, homeowners and umbrella across more than 30 states. Lumen has built a nationwide, diversified network of distribution partners, including national wholesale and retail brokers, and has successfully launched and scaled multiple de novo programs.
Central to Lumen’s operating model is its proprietary KURRENT platform, a fully integrated digital underwriting and distribution system that streamlines submission intake, underwriter communication, policy delivery, endorsement processing, renewals, and real-time portfolio analytics through a comprehensive dashboard and reporting system. Lumen recently expanded KURRENT with enhanced digital capabilities tailored to personal lines.
Post-transaction, the following executives will be added to the board: Albert Benchimol, former Chief Executive Officer of AXIS Capital and a leader in global specialty insurance; Mark Smith, former President of K2 Insurance Services, a leading private equity-backed specialty MGA; and Brian McDermott, former Chief Information Officer of Victor Insurance, a global P&C-focused MGA. Collectively, these advisors bring decades of underwriting, carrier, capital markets, and operating experience that informed Vistria’s investment decision and will continue to support Lumen’s growth as a scaled specialty insurance platform.
Piper Sandler & Co. served as exclusive financial advisor and Choate Hall & Stewart LLP served as legal counsel to Lumen in connection with this transaction. MarshBerry served as exclusive financial advisor and Winston & Strawn LLP served as legal counsel to Vistria.
Topics
Mergers & Acquisitions
Texas
Insurance Wholesale
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