Novel Financial Holdings, Inc. has received new equity capital from private equity firm Crestview Partners. Launched in 2025 and led by CEO Rob Bredahl, Novel manages policyholder-owned reciprocal exchanges through attorney-in-fact entities, alongside traditional stock insurance companies. The company's growth strategy incorporates partnerships with managing general agents such as SageSure, individual risk underwriting capabilities, and expansion into specialty and casualty lines. Howden Capital Markets & Advisory acted as exclusive financial advisor to Novel on the transaction.
Why it matters
The transaction provides Novel with flexible capital and sector expertise from Crestview Partners, supporting its continued multi-line expansion across insurance underwriting and reciprocal management.
Jargon, explained
underwriting
Assessing a risk and deciding whether to provide insurance, at what price and on which terms.
Original source
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