US private investment firm Vistria Group acquires Dallas-based managing general agent Lumen Holdings, creating a new platform in its Financial Services strategy. Lumen, founded in 2019, underwrites various insurance products across over 30 US states through a network of partners. The company’s KURRENT platform supports digital underwriting and distribution.

Lumen’s proprietary KURRENT platform offers digital functionality for personal lines and supports various operations like endorsements, policy issuance, and real-time analytics. Founder and CEO Scott Whitaker expresses excitement in partnering with Vistria to enhance MGA value in the market. Industry experts Albert Benchimol, Mark Smith, and Brian McDermott join Lumen’s board post-acquisition.

Vistria Group’s acquisition of Lumen Holdings reflects a strategic move to capitalize on the evolving specialty MGA market. Boris Rapoport, Vistria Group’s financial services senior partner, emphasizes the importance of partnering in regulated markets with expertise and technology-driven performance. The investment follows years of analysis on the specialty MGA sector’s development.

Read more at Yahoo Finance: Vistria buys Dallas-based MGA Lumen Holdings