Aurenity, a technology-enabled excess & surplus (E&S) managing general agent headquartered in Connecticut, has secured a strategic investment from Great Hill Partners, a private equity firm known for backing high-growth, disruptive businesses.
Agman, the founding investor behind Aurenity, along with the company’s leadership team, will hold on to a substantial share of their equity following the deal, the terms of which have not been disclosed.
The capital injection is intended to support the company’s next stage of growth by widening its underwriting bench, launching additional specialty insurance programmes, and continuing to build out the automation and systems infrastructure that underpins its scaling strategy.
Set up in 2022, Aurenity operates in the E&S insurance space and was established by a leadership group with extensive backgrounds in underwriting, operations and technology, including chief executive Nick Davies, chief underwriting officer Doug Trainor, chief operating officer Pat Safino, and EVPs Janet Beaver and Mark Fuderanan.
The company now runs six core E&S programmes covering primary, lead and excess casualty, alongside public entity, religious organisation and property lines, supported by EVPs Kevin Thommes and John Woie and a network of carrier partners.
Alongside the investment, Great Hill managing directors Matt Vettel and Nick Cayer, together with principal Bob Anderson, will take up seats on Aurenity’s board. Great Hill’s existing insurance portfolio spans payments network One Inc, employee benefit group captive provider Pareto, and Second Nature, which supplies tenant insurance to the single-family rental sector.
Ardea Partners and Oliver Wyman advised Great Hill on financial and actuarial matters, with Goodwin Procter LLP as legal counsel, while Evercore and Fried, Frank, Harris, Shriver & Jacobson LLP advised Aurenity.
Aurenity Chief Executive Nick Davies said, “From the very beginning of Aurenity’s journey, our team has been focused on building a business that earns the trust of our carrier partners through disciplined risk selection.
“Great Hill’s investment and experience in both the insurance and technology sectors give us the capital and partnership to continue expanding our underwriting team and bring new programs to market. It also allows us to further invest in AI to enable smarter and faster decisions while preserving the expertise-led underwriting culture that’s been central to our success. We look forward to partnering with Great Hill to capitalize on the significant opportunities ahead.”
Great Hill Principal Bob Anderson said, “Aurenity is exactly the kind of company we look for, with a high-caliber founding team, a track record of earning the trust of its carrier partners, and the technology infrastructure to continue scaling.
“The structural shift of complex risks into the E&S market and toward specialized underwriters gives us strong conviction that Aurenity is well-positioned for the near and long term, and we look forward to partnering with the Aurenity and Agman teams to build on what they have already accomplished.”
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