Published in Finance

Acrisure appoints former Disney executive as new CFO

BY Wednesday, September 15, 2021 10:39am

GRAND RAPIDS — Acrisure LLC has hired a new chief financial officer who comes from The Walt Disney Co. and will play a key role in helping the company grow beyond the core insurance business.

Lowell Singer has been senior vice president of investor relations for Disney (NYSE: DIS) for 14 years. He’ll be responsible for planning, managing and executing the Grand Rapids-based Acrisure’s financial operations and answer directly to co-founder and CEO Greg Williams.


“Our ability to attract someone of Lowell’s caliber is a testament to Acrisure’s success and bright future,” Williams said in an announcement on the appointment. “Lowell’s experience with dynamic and rapidly growing businesses fits perfectly with Acrisure’s trajectory. His addition to an already stellar team enhances Acrisure’s core finance capabilities. It also greatly bolsters our ability to convey our expansion strategy to existing and future investors.”

Ranking among the top 10 insurance brokers in the world, Acrisure has grown quickly through an aggressive acquisition strategy. The company for years has ranked as the top acquirer of independent insurance brokerages and agencies in North America, acquiring 430 agencies from the start of 2017 to mid 2021.

Through mid August, Acrisure completed 62 acquisitions in 2021 and expects deal flow this year to exceed the five-year rolling average of more than 100.

Acrisure today has more than 700 locations in 44 states and seven countries, and expects to grow revenues by 50 percent this year to about $3 billion. The company in March closed on a $3.4 billion private capital raise that will support growth beyond the core insurance business.

Acrisure also formed an asset management division in March and said it expects “M&A activity in this and other adjacent industries to close in the near-term,” according to an August announcement on year-to-date deal flow.

No plans to go public

Growth at the company has been fueled by private capital. In Singer, Acrisure hired a CFO with experience at a major public corporation and working in the public markets.

However, Acrisure has “no plans at this time” to go public through an initial public offering, according to Elliot Bundy, chief communications and marketing officer.

“We continually look at options to fuel our current expansion and growth, but at this time there are no plans for a public offering,” Bundy said. “Lowell’s hiring is very intentional. His ability to tell our story to a different set of investors, stakeholders and analysts — that sort of third party that we just don’t reach today — has much more to do with our expansion beyond our core insurance offering.”

Acrisure has been investing in artificial intelligence capabilities to become what the company calls “a broad-based technology-driven financial services distribution platform (that) continues to attract a broad range of investors.”

At Disney, Singer managed relationships with investors, analysts and corporate governance, and played a key role in positioning for acquisitions such as Marvel, Lucasfilm and 21st Century Fox. He also was involved in launching streaming services such as Disney+.

Prior to Disney, Singer worked as an equity research analyst at Cowen and Company LLC and Robertson Stephens LLC.

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