Private-equity firm Aquiline establishes TPA platform
- June 6, 2025
- Posted by: Web workers
- Category: Workers Comp
Private-equity firm Aquiline Capital Partners LP said Monday it has set up Avondale Risk as a vehicle to acquire third-party administrators.
The initial deal adds Rocklin, California-based Intercare Holdings LLC and its affiliate InterMed, and Rancho Cordova, California-based George Hills Co. Inc.
“Avondale Risk is designed to unite highly specialized regional firms from across the country,” New York-based Aquiline said in a statement.
Lowell Hays was named CEO of Avondale Risk. Most recently, he was president of Maverick, a construction-focused brokerage and managing general agent based in St. Petersburg, Florida.
Aquiline, which is headed by former American International Group Inc. executive Jeffrey Greenberg, has several other insurance-related investments, including Core Specialty Insurance Holdings Inc., Hippo Holdings Inc. and Relation Insurance Inc.
