Private equity firm THL buys Sword Insurance

SWORD INSURANCE, the property/casualty insurance-focused software arm of France’s Sword Group, has been bought by private equity firm Thomas H Lee Partners (THL) for an undisclosed sum. The business encompasses the AgencyPortal and Open+ brands. According to Steve Hauck, co-chief executive of Sword Insurance, THL’s investment will help the business support a greater portion of its customers’ complex technology needs and would push it towards its goal of becoming a top- five global technology vendor. This marks THL’s latest investment in the insurance sector. It is one of the founding shareholders of Bermuda’s Ariel Re and had been an investor in claims and management specialist Sedgwick CMS before a management buyout in April last year.