M&A Deal Summary

White Mountains Acquires Distinguished

On July 7, 2025, White Mountains acquired insurance company Distinguished from Aquiline Capital Partners

Acquisition Highlights
  • This is White Mountains’ 21st transaction in the Insurance sector.
  • This is White Mountains’ 20th transaction in the United States.
  • This is White Mountains’ 2nd transaction in New York.

M&A Deal Summary

Date 2025-07-07
Target Distinguished
Sector Insurance
Buyer(s) White Mountains
Sellers(s) Aquiline Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Mayer Brown (Legal)

Target

Distinguished

New York, New York, United States
Distinguished Programs is a national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Real Estate, Community Associations, Hospitality, and Restaurants. Distinguished was founded in 1995 and is based in New York, New York.

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Buyer(S) 1

Buyer

White Mountains

Hamilton, Bermuda

Category Company
Founded 1980
Sector Insurance
Employees893
Revenue 2.4B USD (2024)
DESCRIPTION

White Mountains is a domiciled financial services holding company with business interests in property and casualty insurance and reinsurance. White Mountains was founded in 1980 and is based in Hamilton, Bermuda.


DEAL STATS #
Overall 25 of 26
Sector: Insurance M&A 21 of 22
Type: Add-on Acquisition M&A Deals 8 of 8
State: New York M&A 2 of 2
Country: United States M&A 20 of 21
Year: 2025 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-10 BroadStreet Partners

Columbus, Ohio, United States

BroadStreet Partners is an insurance brokerage holding company that invests in select, entrepreneurial, high-performing independent agencies that are seeking support for continued growth and a solution for ownership succession. BroadStreet uses a unique co-ownership model that allows its partners to fully participate in the financial rewards of the value they create. BroadStreet Partners was founded in 2001 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-03 Bamboo

Midvale, Utah, United States

Bamboo is a capital-light, tech- and data-enabled insurance distribution platform providing insurance offerings to the residential property market in California. The company operates primarily through its full-service MGA business, where it manages all aspects of the placement process on behalf of its fronting and (re)insurance partners, including product development, marketing, underwriting, policy issuance, and claims oversight, and earns commissions based on the volume and profitability of the insurance that it places. Bamboo Insurance is based in Midvale, Utah.

Sell $1.8B

Seller(S) 1

SELLER

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 29 of 31
Sector: Insurance M&A 9 of 9
Type: Add-on Acquisition M&A Deals 16 of 17
State: New York M&A 5 of 5
Country: United States M&A 20 of 22
Year: 2025 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-12 Ontellus

Houston, Texas, United States

Ontellus is a technology-enabled record retrieval provider that empowers insurance carriers, self-insured corporations, and law firms to reduce costs, make better-informed decisions, and accelerate claims resolution. Ontellus was established in 1975 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-14 ABC Legal

Seattle, Washington, United States

ABC Legal is a national, tech-enabled legal logistics and document management business focused on service of process. ABC Legal was founded in 1974 and is based in Seattle, Washington.

Sell -