European private equity firm Astorg has taken a minority stake in Acturis Group from existing investor Summit Partners.
Insurance Age revealed in January that the software house was seeking a new minority PE investor to replace Summit, which initially invested in Acturis in June 2010.
Acturis declined to say how much of the business is now PE owned, but noted that its employees will continue to own the majority of the company.
Following the deal, Astorg is set to support Acturis’ future
The Insurance Age editorial team dig into this week's top stories.Subscribe to our daily newsletter for all the latest news
- Construction firm unable to find insurance due to lack of capacity
- FCA warns of Moneysupermarket clone
- Fact file: What’s the story with the Ogden Rate?
- Hastings expects £8.4m hit from Ogden rate change
- Blog: What is JCT 21.2.1 insurance, and who needs it?
- Victor reaches out to brokers following CEO change
- FCA reiterates dual pricing concerns