Overview of Transaction

• On January 14, 2021, American Family Insurance, the nation’s 13th largest property / casualty insurance group, announced it has entered into a definitive agreement to acquire Bold Penguin, a rapidly growing commercial insurance technology provider based in Columbus, Ohio
• Founded in 2016, Bold Penguin is an InsurTech innovator that rapidly increases speed-to-bind for commercial insurance, operating the largest commercial insurance exchange powering over 100,000 quote starts every month

Significance of Transaction

• By leveraging technologies such as machine learning and data-based insurance intelligence capabilities, Bold Penguin has improved the process of shopping for insurance for small businesses, the brokers they rely on and the carriers that service them
• The acquisition continues American Family’s transformation into a national, multi-line insurer, created in part through multiple acquisitions and a merger, and also reflects the Company’s involvement with adjacency companies that complement its insurance operations

FT Partners' Role

• FT Partners served as exclusive financial and strategic advisor to Bold Penguin in this transaction
• FT Partners previously advised Bold Penguin on its acquisition of RiskGenius
• This transaction highlights the long-term nature of many of FT Partners’ client relationships, as well as our deep domain expertise and transaction experience across the InsurTech sector