WALNUT CREEK, Calif. — April 30, 2019 — Relation Insurance Services (“Relation”), an insurance brokerage that offers risk-management, benefits, and TPA-consulting services through its family of brands across the United States, today announced the addition of three respected insurance industry leaders to its team. Chris McKechnie has been named to the role of Chief Financial Officer, Tim Hall was named Executive Vice President and Head of M&A, and Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners, will join the board.
The company also announced the completion of the acquisition by Aquiline Capital Partners (“Aquiline”). In February, Aquiline announced it had entered into a definitive agreement to acquire Relation. The transaction closed on April 15, 2019.
Chris McKechnie brings more than two decades of investment and operating experience in the insurance industry to his new role as CFO with Relation. Most recently, he served as operating partner and advisor to several financial services-focused investors, including, among others, Aquiline. Chris previously worked with The Swiss Re Group for more than 17 years, initially as part of the formation of Securitas Capital, LLC, a private equity fund focused on investments in the insurance industry. During his tenure, he held several key investment and operating positions, including leading Swiss Re’s Group Strategy, as well as its global M&A/Corporate Development and the Principal Investments Group. He also served as a member of Swiss Re’s Operations Committee and was a member of the Asset Management and Investment Committees. Chris began his career as an investment banker with Smith Barney focusing on M&A and financing opportunities.
Tim Hall joins Relation as Executive Vice President and Head of M&A, a new position within Relation created to propel the company’s expansion strategy through accretive acquisitions. As a member of the executive team, Tim is responsible for Relation’s M&A initiatives nationally across the organization. An accomplished investment banker in the insurance sector, Tim comes to Relation having most recently served as Partner and Managing Director at Waller Helms Advisors, where he advised insurance carrier, insurance distribution, and insurance services clients on mergers, acquisitions, and capital raises. Previously, Tim was a Vice President in Macquarie Capital’s Financial Institutions Group, focusing on executing M&A and financing transactions for clients across the insurance sector. Tim began his investment banking career at Cochran Caronia Waller, focusing principally on M&A in the insurance sector.
Relation also announced the addition of Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners, to its board. Prior to founding Aquiline in 2005, Jeff was the Chairman and Chief Executive Officer of Marsh & McLennan Companies, Inc (“MMC”). Previously, he was Chief Executive Officer of MMC Capital, Marsh & McLennan’s private equity business, and served in numerous executive positions at American International Group (AIG).
“With the backing of Aquiline and the addition of three of the insurance industry’s most respected leaders, who bring decades of expertise in successfully growing insurance businesses both organically and inorganically, Relation is poised for significant growth,” said Joe Tatum, Chief Executive Officer of Relation. “As we look to the future and the exciting new chapter, our goal is to build a 100-year-old company by having the best resources, talent, and innovative tools and strategies in our industry.”
Since its founding in 2007, Relation has built its strengths in specialized industries including agribusiness, education, employee benefits, public entity, transportation, and non-profit. The Company is committed to helping mid-market businesses navigate their myriad insurance needs by building relationships and leveraging the right mix of people, partnerships, processes, and technologies.
About Relation Insurance Services
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 40 largest agencies in the country by revenue and has nearly 500 employees in more than 30 locations nationwide. Relation is a privately held corporation, alongside its private equity partner, Aquiline Capital Partners. Visit www.relationinsurance.com for more information.
About Aquiline Capital Partners
Aquiline Capital Partners, founded in 2005 and based in New York and London, is a private equity firm investing in businesses across the financial services sector in banking and credit, insurance, investment management, and financial technology and services. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.
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Relation Insurance Services:
Emily F. Porro
Aquiline Capital Partners:
Alex Yankus / Harry Mayfield