• Contact Us
  • 833-476-2487
  • 833-4-SOCIUS

    Socius LogoSocius LogoSocius LogoSocius Logo

    • Brokerage
      • Management & Professional Liability
      • Property
      • Casualty
    • Applications
      • Crime
      • Cyber
      • EPLI
      • Errors and Omissions
      • Management Liability
      • Property and Casualty
    • Continuing Education
    • About Us
      • Meet Our Team
      • A Decade or More
      • Mission & Vision Statement
      • Testimonials
      • Philanthropy
      • Careers
    • Resources
      • Articles
      • Reference Documents
      • Socius Scoop
      • Diversity & Inclusion Newsletters
      • Press Releases
    • Make a Payment

    Socius Insurance Services, Inc. Announces Significant Growth Investment From Abry Partners

    July 1, 2021

    San Francisco, CA – July 1, 2021

    Socius Insurance Services, Inc., an independently-owned management liability and property/casualty insurance wholesaler, today announced that it has received a significant growth investment from Abry Partners (“Abry”), a leading Boston-based private equity firm.  Abry is making the investment in partnership with the company’s CEO Patrick Hanley and senior management.

    Socius plans to use proceeds from the investment to accelerate its strategic growth plan and pursue acquisition activities.  Socius and Abry have already identified potential acquisitions to further build its national footprint, expand Socius’ locations in new and existing geographies, as well as broaden its suite of insurance offerings. Socius will look to further grow its already industry leading expertise in the management, professional and cyber liability practice disciplines, as well as bolster its position in the property and casualty marketplace. In addition, Socius plans to broaden its product offerings to support their distribution partners by adding complementary binding authorities and managing general agencies.

    Abry is partnering with Patrick Hanley, Chief Executive Officer of Socius, who co-founded the company nearly 25 years ago and will continue to lead the company as CEO.  Mr. Hanley said, “We see tremendous opportunity ahead and look forward to our partnership with the team at Abry who have extensive experience in supporting the growth and expansion efforts of other leading firms like ours. In particular, we look forward to their guidance and expertise as we identify M&A opportunities that will enhance our position as a leading independent broker, including expanding our geography, broadening our product offerings, and enhancing customer service.”

    Nathan Ott, Partner at Abry, said, “Abry has been very successful in identifying attractive insurance investment opportunities and partnering with leading insurance industry executives like Patrick to help create category leaders.  We believe Socius is extremely well positioned to capitalize on the tailwinds within the hard-to-place surplus lines market and we look forward to supporting Patrick and his extremely talented team during their continued growth both organically and through our collective M&A pipelines.

    This latest platform investment by Abry is consistent with the firm’s strategy of partnering with excellent founders and entrepreneurs in the insurance sector.  Socius adds to Abry’s current and former investments in insurance companies, including its acquisition this year of full-service insurance brokerage High Street Insurance Partners. Other investments include specialist insurer ERS; Hilb, a leading property and casualty (P&C) insurance and employee benefits broker serving predominantly small to medium sized business; Acrisure, a leading P&C insurance and employee benefits brokerage; and NSM Group, one of the largest privately held P&C Managing General Agencies in the U.S. Marsh, Berry & Company, Inc. acted as the exclusive financial adviser to Socius Insurance Services, Inc.  Kirkland & Ellis LLP served as legal counsel to Abry.

    About Socius Insurance Services, Inc.

    Socius Insurance Services, Inc. is a property/casualty and management liability wholesale broker based in San Francisco, with regional offices in Los Angeles; Elgin, IL; Birmingham, AL; Austin, TX; Tampa and Miami, FL; Philadelphia; and Summit, NJ. Socius specializes in D&O, E&O, EPL, Cyber, Property & Casualty and Umbrella coverages. Founded in 1997, the company currently has approximately 90 employees, and is privately held. For more information, please visit Socius online at www.sociusinsurance.com.

    About Abry Partners

    Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements.  Currently, the firm manages over $5 billion of capital across its active funds. For more information on Abry, please visit www.abry.com.

    Contact: Chris Tofalli
    Chris Tofalli Public Relations, LLC
    914-834-4334

    Download a PDF version 

    Share

    Socius Logo

    As your outsourced marketing department, we work closely with both admitted and specialty markets to meet your clients’ unique needs.

    • Home
    • Continuing Education
    • Employee Benefit Providers
    • Contact Us
    • Terms of Use & Privacy Policy
    Copyright © 2022 Socius Insurance All Rights Reserved.
        We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
        Do not sell my personal information.
        Cookie settingsACCEPT
        Privacy & Cookies Policy

        Privacy Overview

        This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
        Necessary
        Always Enabled
        Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
        Non-necessary
        Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
        SAVE & ACCEPT
        Customer Feedback