VRA Advises Squaremouth on its Sale to Specialty Program Group, a subsidiary of Hub International
VRA is pleased to announce that Squaremouth, LLC ("Squaremouth" or the "Company") has completed a strategic sale to Specialty Program Group, LLC ("SPG"), a subsidiary of Hub International Limited ("Hub"). VRA acted as the exclusive financial advisor to Squaremouth. Terms of the transaction were not disclosed.
"We could not be happier with the outcome that VRA helped us achieve," said Squaremouth Co-Founder & CTO, Matt Outten. "The VRA team's expertise, thoughtfulness and consistent dedication was critical in helping us navigate the transaction process and find the right partner to support Squaremouth's next phase of growth."
Squaremouth is a leading provider of travel insurance products and services to the consumer market. The Company's platform offers the travel industry's most comprehensive travel insurance marketplace and includes its own branded private label travel insurance products. Squaremouth has built a trusted name in the travel insurance industry through its transparent and competitive coverage options and has insured over 3 million consumers.
SPG and Squaremouth will work together to transform the insurance marketplace through ecommerce and digital technology. "Squaremouth is a growing industry leader when it comes to the use, convenience and efficiency of its digital travel insurance platform. Clients can get a quote, compare rates and purchase their coverage online and receive their policy immediately. This aligns perfectly with our strategy to accelerate the scale and depth of our digital capabilities to keep pace with our clients' boundaryless needs," said SPG President & CEO Christopher Treanor.
"We've gotten to know Co-Founders Chris
Harvey and Matt Outten and the Squaremouth management team incredibly well over
the past few years," said VRA Managing Director, Doug McCartney. "The Company's resiliency through the
COVID-19 pandemic speaks to the strength and perseverance of the management
team and iconic Squaremouth brand. We
are not only excited to see what Squaremouth and SPG can achieve in
partnership, but also for the lasting friendships we formed throughout the
transaction process."
Squaremouth
Founded in 2003 and headquartered in St. Petersburg, FL, Squaremouth hosts a leading digital travel insurance platform with intuitive quoting and comparison engine capabilities. The Company offers the industry's largest and most diverse portfolio of travel insurance products through 22 A.M. Best insurance underwriters, allowing consumers to instantly purchase relevant travel insurance policies from every major provider in the U.S. The Company also provides its own branded private label travel insurance products, Tin Leg. Squaremouth.com and its multi-award winning customer service team has helped over 3 million travelers save time and money to find the best travel insurance policy for their trip. Learn more at www.squaremouth.com.
Specialty Program Group
Headquartered in Summit, NJ, Specialty Program Group is a fully licensed holding company established to acquire and scale best-in-class insurance underwriting facilities and specialty businesses throughout North America. SPG has a vast portfolio of specialty companies and is over three and half billion in premium. Learn more at www.specialtyprogramgroup.com.
Hub International Limited
Headquartered in Chicago, IL, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 16,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. Learn more at www.hubinternational.com.