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Abry-backed illumifin to acquire LTCG

illumifin, an insurance third-party administration and software provider backed by private equity firm Abry, is to acquire LTCG, a provider of administrative solutions and clinical services to the long-term care insurance industry.

The transaction is expected to close within the next 60 days.
 
The strategic acquisition will make illumifin one of the largest insurance third-party administrators in the country with leading capability in underwriting, policy administration, health risk assessments and claims management. By combining illumifin’s third party administration and technology solutions with LTCG’s proprietary long-term care administration platform and claims capabilities, the company will be well positioned to advance digital capabilities across the market and provide end-to-end administration of next generation hybrid long-term care policies in addition to all the other products currently supported.
 
illumifin was formed in July 2021 by Abry Partners and Hoplon Capital to be an innovative partner to the insurance industry, delivering visionary technology enabled services and software solutions, to individual and group insurers.

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