Foley Represents GuideOne Insurance in $200M Investment by Bain Capital, Creation of Innovative Platform Dedicated to Mutuals

Foley & Lardner LLP served as legal adviser to GuideOne Insurance Company (“GuideOne”), a leading niche-market insurance carrier founded in 1947, in receiving a $200 million investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital.

GuideOne will serve as the inaugural member of The Mutual Group, an innovative new platform dedicated to mutuals being created through Bain Capital Insurance’s acquisition of GuideOne’s operational platform. The Mutual Group will launch with approximately $800 million in annual premium serviced across 50,000 commercial policyholders by its over 400 employees and will provide a unique combination of equity capital plus outsourced operational capabilities to improve the financial strength, flexibility, and operational efficiencies of its mutual insurance company members.

GuideOne will use the $200 million it receives for becoming the inaugural member of The Mutual Group to strengthen its balance sheet and surplus position and to bolster its continued growth in support of policyholders. As The Mutual Group’s inaugural member, GuideOne will further support its long-term stability through improved operational efficiencies and underwriting performance.

The multidisciplinary Foley team was led by Foley’s Insurance Practice Group, including partners Kevin Fitzgerald, JillAllison Opell, and Morgan Tilleman, senior counsel Jonathan Goeringer, special counsel Nicholas Secara, and associates Matthew Citrin and Benjamin Schwab. Partner Christopher King and associate Tori Worcester advised on IP matters, partner Casey Knapp, of counsel Isaac Morris, and associate Gage Maurer advised on employee benefit matters, partners Carrie Hoffman and John Litchfield advised on labor and employment matters, and partner Rishi Sodhi and associate Jacob Davis advised on taxation matters.

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