Dequity Capital Management has acquired a 25 per cent stake in Pinnacle Insurance Brokers Limited in a transaction that values Pinnacle at $350 million.
This partnership is expected to accelerate Pinnacle’s growth, particularly in travel insurance and group health insurance.
Dequity Capital Management, with assets under management exceeding US$45 million across nine portfolio companies, is a diversified investment firm with interests in real estate development, financial services, healthcare, and more
Through this partnership, Dequity aims to increase Pinnacle’s net earnings and position the company for a future listing on the Junior Market of the Jamaica Stock Exchange.
“We see immense potential in Pinnacle and are excited to support their expansion into new business lines and markets. Just by plugging Pinnacle in our diverse group of companies we already project a 20 per cent revenue increase. Our strategy has always been to build strong corporate governance and structure, driving sustainable earnings growth. With this partnership, we are focused on positioning Pinnacle for a successful future and using our network and partnerships to open new doors for the company, ” said Kadeen Mairs, CEO of Dequity Capital Management.
Pinnacle Insurance Brokers’ CEO, Mark Neita, welcomed the deal, stating, ” The partnership between Pinnacle Insurance Brokers and Deequity Capital enhances our service option by combining insurance expertise with financial capital, enabling us to provide more comprehensive solutions to our clients. The strategic relationship also fosters innovative and growth opportunities, allowing both firms to expand their market reach and improve customer satisfaction. The expertise will be invaluable as we work towards growing our business.”
The partnership also grants Pinnacle access to Dequity’s expansive portfolio of companies, unlocking opportunities for collaboration across multiple industries, including real estate, healthcare, and financial services.
Founded in January 2013, Pinnacle Insurance Brokers offers life, health, motor, business, and travel insurance, both locally and internationally. Licensed by the Financial Services Commission, Pinnacle offers a diverse range of insurance products in Jamaica and holds a facultative license to provide specialised international life and health insurance.
