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1970 Group, a specialised risk financing provider to the insurance industry with expertise in structured financing, credit support, and risk management, has announced a significant growth capital investment from Bain Capital.
1970 Group pioneered Insurance Collateral Funding (ICF), a balance sheet and liquidity management solution that enables companies to transfer their insurance collateral requirements off their balance sheets, thereby giving them more capital to deploy to business operations and investment opportunities.
“Bain Capital’s investment will further support 1970 Group’s mission to help companies unlock liquidity and operate at their fullest potential, enabling us to bring our solutions to a greater number of businesses across the United States and Canada,” said Stephen Roseman, CEO and founder of 1970 Group.
"Stephen and the 1970 team have created an innovative liquidity solution for the insurance industry that can adjust to evolving collateral requirements, enabling companies to free up their balance sheets and dedicate more resources to seizing growth opportunities,” said Matt Popoli, global head of Bain Capital Insurance.
Financial terms of the private investment were not disclosed.