NEW YORK & LONDON--(BUSINESS WIRE)--Zimmer Financial Services Group (Zimmer), whose businesses include insurance and investment management, today announced the sale of its specialty legacy insurance provider, Carrick Specialty Holdings. Founded by Zimmer in 2019, Carrick quickly grew operations in the United States, United Kingdom, and Bermuda, establishing a strong record of deals in the legacy market. Under the terms of the transaction, Carrick was purchased at a premium to book value by Northlight QIAIF plc, an Irish-regulated company managed by Northlight Group LLP, a London-based investment manager.
Stuart J. Zimmer, Chairman and CEO of Zimmer Financial Services Group, commented, “The sale of Carrick represents another successful Zimmer investment in the insurance industry. We’re excited to continue deploying capital to Ategrity, our booming specialty insurance company.”
Carrick has been part of Zimmer’s expansion in the insurance market across multiple sectors. In addition to Ategrity Specialty Insurance Company, its excess and surplus (E&S) market insurer, its holdings include Iron Title Insurance Agency; Bermuda-based Sequentis Reinsurance; and Zimmer Partners, LP, a research-driven, multibillion dollar investment adviser.