The Abu Dhabi Investment Authority (ADIA) has sold a 50% stake in the UK-based Policy Expert, an insurance solutions provider, to private equity firm Cinven’s Strategic Financials Fund as part of a “broader growth strategy” for the insurance firm.
The financial details of the transaction have not been disclosed and is subject to regulatory approvals and closing conditions.
“We are confident that Cinven’s track record of supporting innovative businesses will be of significant benefit to Policy Expert… and it has strong prospects for further growth,” Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said.
Luigi Sbrozzi, Partner and Head of the Strategic Financials Fund at the UK-based Cinven, added the company’s investment will support Policy Expert “in its next stage of growth.”
Founded in 2011, Policy Expert operates as a Managing General Agent (MGA), allowing it to provide insurance solutions with a capital-light business model. It has more than 1.5 million customers in the UK across home and motor insurance segments and plans to start pet insurance this year.
ADIA bought a majority stake in Policy Expert in November 2023 after holding minority interest in the company since 2020.
