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Financial
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The
Republic Group
Founded in 1903, The Republic Group offers personal property, dwelling
fire, personal automobile and commercial lines of insurance through
independent agents primarily in Texas, Oklahoma, Louisiana and New
Mexico. Separately, Republic manages insurance programs through
unaffiliated managing general agents ("MGAs") that target
niche markets and underwrite personal and commercial lines policies
in the southwestern United States and in other selected states.
Republic also provides insurance services to MGAs and national and
regional insurance carriers that wish to access our markets and
fully reinsure the business written.
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Independent
Insurance Investments
Independent Insurance Investments Inc owns American Independent Insurance
Company (AIICO) located in suburban Philadelphia, Personal Service
Insurance Company of Columbus Ohio and Bankers Independent Insurance
of Gaithersburg MD. The insurance companies have been providing a
wide array of quality insurance products and services since 1971.
All three companies specialize in providing affordable automobile
insurance with low down payments and convenient payment plans to fit
any budget. Customers can tailor their coverage to meet their specific
needs. |
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Bayly
Martin & Fay
Bayly
Martin & Fay was a medium-sized, national insurance broker. Wand
invested in 1985 and played an active role in repositioning the
organization. Wand exited this investment in 1989 when the company
was acquired by AON. |
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Life
Partners Group
Life Partners was a life insurance holding
company created from the 1990 acquisition of certain major subsidiaries
of ICH (a troubled, publicly-owned insurance business). Life Partners
offered a wide range of life insurance and annuity products. Wand
co-sponsored the acquisition and played in an active role as a director.
After a successful IPO, Wand exited this investment in 1994. |
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PennCorp
Financial Group
PennCorp
Financial Group was an underwriter and marketer of health, accident
and life insurance products. Wand led the subordinated debt financing
for this 1990 acquisition and served as a Director of the Company.
After a successful initial public offering, Wand exited the investment
in 1995. |
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AMERESCO
Wand initially
invested in BEI, a specialty manager of real estate investments 1991.
In 1993, BEI merged with AMERESCO Holdings, Inc. The combined entity
became one of the largest US companies specializing in the management
and disposition of distressed real estate assets. Wand exited this
investment in 1995. |
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ACE
Limited
ACE is a major property/casualty insurance/reinsurance holding company
based in Bermuda. The Company was founded in 1985 by a group of Fortune
500 companies to provide excess liability coverages. Bruce Schnitzer,
then CEO of Marsh & McLennan, was involved in the formation of the
Company. In 1993, Wand took a small ownership stake in the business.
Wand exited this investment in 1995. |
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Old
American Group
In 1992, Wand acquired Old American, the manager of a Texas County
Mutual Insurance Company that primarily acts on behalf of other insurers
and reinsurers to provide non-standard automobile insurance. Wand
provided operational assistance and strategic guidance. Wand sold
this business in 1999. |
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Seguros
Comercial America
Seguros Comercial America ("SCA") is the largest insurance company
in Mexico. The Company offers all lines of life and non-life insurance.
In 1996, Wand co-invested with a syndicate of private equity firms
to finance SCA'a acquisition of Aseguradora Mexicana SA ("Asemex"),
a large Mexican insurance company. Wand exited this investment in
2000 when SCA was sold to ING. |
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Chartwell
Wand led the acquisition of Chartwell, a medium-sized, broker-market
reinsurance company, in 1992. Wand played an active role in the development
of the organization. In 1999, Chartwell merged with Trenwick (NYSE:
TWK), and Wand exited this investment. |
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Acordia
Wand led the acquisition of Acordia in 1997. Acordia, the world's
sixth largest insurance broker, focuses on middle market, main street
commercial accounts. Revenues are generated from brokerage commissions
and fees on the placement of approximately $3 billion of property
and casualty insurance premiums.
Acordia grew successfully through the acquisition of insurance agencies
with strong franchises in relatively small local markets. Wand played
an active role in Acordia's development, with Bruce Schnitzer serving
as Chairman. Wand exited this investment in 2001 in connection with
its sale to Wells Fargo. |
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Universal
American
Universal, is a leading provider of supplemental health insurance,
life insurance and annuities to the Senior Market. Wand invested in
Universal American in 1994, and played an active role as a Director.
The Company completed a series of successful acquisitions , and Wand
exited this investment in 2002. |
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Litle
& Co.
Litle & Co. was a credit card processing and authorization service
provider focusing on fraud protection for telephone-based direct marketing.
Wand assisted in the establishment of the company in 1988 and assisted
with its strategic development. Wand exited this investment in 1995
when the company was acquired by First USA. |
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Hicks
Muse & Co.
Hicks Muse, a leading private equity firm, was established in 1990.
Wand invested in the General Partner of Hicks Muse Equity Fund I,
and has provided support for the Financial Services investment activities
of Hicks Muse. Wand has exited this investment. |
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Soundview
Technologies
Wit Capital, now Soundview Technology Group, was formed as an innovative,
online business to leverage Internet connectivity to enhance the efficiency
of certain aspects of investment banking and securities distribution.
In 1999, Wand took a small stake in the Company. Wand exited this
investment in 2000. |
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Mitchell
Mitchell is a worldwide leader in technology based business solutions
including property and casualty insurance and automotive collision
repair. Mitchell acquired Ensera (a Wand-sponsored company) in September
2001. Mitchell is still held in Wand's portfolio of companies. |
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Intagio
Intagio (www.intagio.com) is an electronic
marketplace for the selling of goods and services among companies
using "barter dollars" as the form of payment. Intagio allows
businesses to sell excess capacity of goods or services and surplus
inventory at full price, improving profitability and cash flow. Wand
sponsored the establishment of Intagio and has been the lead investor.
Intagio is still held in Wand's portfolio. |
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eScout
eScout (www.escout.com)
is a business-to-business e-commerce community. The eScout.com community
unites small and mid-sized companies through major regional banks
and their correspondent banking clients. The company also provides
its technology platform to large corporations to facilitate more
efficient purchasing. Wand has been as investor in eScout since
2000 and continues to hold this investment. |
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Datasynapse
Datasynapse (www.datasynapse.com)
has developed a scalable platform for distributing computations across
networks of idle personal computers to power large scale applications,
primarily for financial services clients. Wand invested in Datasynapse
in 2000 and continues to hold the investment. |
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