Alliant Insurance Services

active

Insurance — KKR / Stone Point Capital

Deal Terms

Entry Year2020

Entry EV$5B

Entry Multiple14x

Leverage7x

Debt Amount$3.5B

Risk Metrics

LTV (est.)70%

Debt / EV0.70x

Notes

KKR and Stone Point control insurance brokerage. Serial PE flips drove valuation from $1B to $5B+ in under a decade. 7x leverage. Insurance brokerage rollup — acquire smaller brokers, raise commissions, load debt. Rising premiums benefit brokers. $3.5B debt on a middleman business.

Sponsor

KKR & Co.$638B AUM