AssuredPartners

AssuredPartners

AssuredPartners launched in 2011 after Jim Henderson, former chairman of Brown & Brown Insurance, partnered with GTCR to consolidate the fragmented middle-market insurance brokerage industry. The firm acquires independent agencies, retaining their operational leadership while centralizing back-office functions and cross-selling specialty lines including property and casualty, employee benefits, risk management and surety. Headquartered in Orlando, AssuredPartners has grown into a national platform through more than 400 acquisitions, a pace sustained across private-equity ownership cycles. The firm operates across three primary revenue categories: property and casualty insurance, employee benefits consulting, and risk management services. GTCR seeded the platform and exited part of its stake to Apax Partners in 2015. Apax acquired majority control in a valuation event that pegged the firm at roughly $4.5 billion. In 2019, GTCR reacquired a significant interest alongside Apax, then in early 2023, Apax sold its remaining stake to a consortium led by GTCR and AssuredPartners management. Direct investments and lending relationships are structured through the parent holding company rather than a managed fund vehicle. Geographic reach extends to all 50 US states and London. AssuredPartners reports roughly $2 billion in annual revenue (per Insurance Journal, 2023) and has placed an estimated $40 billion in annual premiums. In 2023, Randy Larsen was named CEO as Henderson moved to Chairman, while President Tom Riley continues to lead the acquisition engine. The firm operates regional hubs from Orlando to Denver and maintains offices in London, reflecting a posture that pairs domestic roll-up mechanics with select international specialty capabilities. No philanthropic foundation or family-office structure is publicly separated from the corporate entity; the platform functions as a pure corporate consolidator. The structural distinction of AssuredPartners lies in its capital-structure intensity. Unlike most brokerages that grow organically or via small tuck-ins, AssuredPartners uses private-equity financing to acquire and integrate large regional agencies, each bringing their own producer and client relationships. This makes the firm less a traditional insurance agency and more a leveraged acquisition platform in a regulated, relationship-driven industry — a structure that creates distinct refinancing cycles and exit timing pressures absent at publicly traded peers like Marsh or Aon.