Fourth platform investment in the last twelve months within Altaline’s Compliance, Safety & Risk (“CSR”) thematic investment initiative.

LOS ANGELES: #actuarialservices--Altaline Capital Management (“Altaline”) today announced that funds it advises have completed a strategic growth investment in Risk & Regulatory Consulting (“RRC”), one of the largest independent providers of actuarial, financial/IT, compliance, and related support solutions to U.S. insurance regulators.

Founded in 1988, RRC has served state insurance departments for nearly 40 years. The firm employs close to 160 professionals across the country, delivering support to 44 states and jurisdictions. Its work spans financial/IT examinations and analysis, market conduct examinations, actuarial services, insolvency and receivership support, market studies, and investment analysis.

RRC’s leadership, teams and services are unchanged. LeeAnne Creevy and Tricia Matson will continue as Co-Chief Executive Officers, and client engagements continue without interruption.

The demands on state insurance regulators have risen steadily. Climate exposure, cyber risk, increased investment in private credit securities and the spread of artificial intelligence and automation in insurers’ operations now show up routinely in regulatory reviews, alongside the continuing shift towards excess and surplus lines and the use of fronting and captive structures. Altaline intends to support RRC in adding credentialed actuaries and specialists to meet that demand.

The investment builds on Altaline’s long record of success across financial services and within the compliance, safety and risk thematic areas, where Altaline has made three other platform investments in the last twelve months.

“As part of our investment research work, we found the public sector actuarial solutions market to be compelling and RRC, in particular, to have all the attributes we look for here at Altaline,” said Sebastian O’Neill, Principal at Altaline Capital Management. “Nearly four decades of regulatory relationships, genuine technical depth and national coverage. Very few firms can do this work at the standard regulators now need, and we intend to help RRC remain the one that does it best.”

“We met the Altaline team at an industry conference and have been impressed by our interactions with them over the last year as we contemplated a potential transaction. As we got to know their team, it became clear to us that our growth vision could be accelerated by partnering with them,” said LeeAnne Creevy, Co-Chief Executive Officer of RRC. “What mattered to us was the shared vision: growth and expansion rooted in continuity and excellence in service delivery.”

“We want to serve more regulators, and provide more of what they need, than we can today,” said Tricia Matson, Co-Chief Executive Officer of RRC. “That takes credentialed people and it takes capital. Altaline is committed to both. We are excited to embrace Altaline’s impact programming, starting with its broad-based employee ownership program, which we will implement at RRC and which will allow substantially all of RRC’s staff to be equity owners in our business for the first time. We also look forward to implementing Altaline’s domestic technical talent training and apprenticeship program, which we hope will make RRC a leading home for the next generation of technical talent in the actuarial and adjacent sciences.”

John Haley and Ellen Charnley join RRC’s board of directors alongside Sebastian O’Neill and Rafael Telahun of Altaline. Both directors were recruited through the Altaline Executive Network (“AEN”), which introduces the firm’s platform companies to executives who have built and led businesses at scale in adjacent markets. The AEN brings operators into the boardroom alongside Altaline’s investment professionals, so that the two support management teams together in pursuing ambitious growth agendas.

Mr. Haley served as Chief Executive Officer of Willis Towers Watson from 2016 to 2021, and led its predecessor businesses from 1998. Willis Towers Watson is one of the largest global insurance and professional services franchises, with roughly $9 billion of annual revenue, and is also home to one of the world’s leading actuarial and retirement consulting practices. Mr. Haley began his career as a consulting actuary.

Ms. Charnley served as President of Marsh Captive Solutions for seven years until the end of 2024, capping more than 28 years in captive insurance. Marsh Captive Solutions is the world’s largest captive insurance manager and a pioneer of the corporate captives market, managing approximately 1,900 captives across more than 55 domiciles. Captives are one of the fastest-moving segments of the insurance market.

Altaline was advised by Citizens Capital Markets & Advisory as financial advisor; Oliver Wyman as commercial strategy advisor; RubinBrown as accounting and tax advisor; BakerHostetler as transaction counsel; Calfee, Halter & Griswold as financing counsel; Crosslake as information technology advisor; and Howden as insurance and benefits diligence advisor. Apogem Capital provided debt financing and Align Collaborate provided equity financing.

ABOUT ALTALINE

Altaline Capital Management (“Altaline”) is a specialist private equity firm dedicated to transforming businesses in the services sector. Based in Los Angeles with an office in San Francisco, Altaline focuses on control-oriented investments in the tech-enabled services, business services and financial services sub-sectors. For more information, visit www.altaline.com.

ABOUT RISK & REGULATORY CONSULTING

Risk & Regulatory Consulting is an independent professional services firm providing financial/IT examination and analysis, market conduct examination, actuarial, insolvency and receivership, market studies, and investment analysis services to insurance regulators and related organizations. Founded in 1988, the firm serves 44 states and jurisdictions and employs about 160 staff nationwide. Visit https://riskreg.com/ to learn more.

Fonte: Business Wire