Representative Portfolio Companies

It is often with change that opportunities are born. Century Capital Management has a history of partnering with innovative people within the insurance, risk management and financial services industries to capitalize on the opportunities that arise in such periods. Century Capital’s successful private investments, as shown below, were generated through educated risk taking based upon analysis of the impact significant events and catalysts would have on the markets and industries in which the firm invests.

DP Mann Holdings, Ltd. (acquired by General and Cologne Re)

In the mid-1990's Lloyd's of London opened its market to institutional investors for the first time in history. Century Capital Management took advantage of this change by investing in DP Mann, an integrated Lloyd's underwriter formed for the purpose of owning both the managing agent of Syndicate 435 and the corporate name. Underwriting activities are divided into six specialized teams: commercial lines-property insurance, corporate liability, international casualty, personal lines, property treaty, and U.S. casualty and specialist lines. This investment was the firm's second investment in a Lloyd's entity.

Tempest Reinsurance, Ltd. (acquired by ACE Limited)

Following Hurricane Andrew in 1992 Century Capital Management took advantage of the dislocation of the catastrophe reinsurance market to participate in the creation of Tempest Reinsurance, Ltd. Tempest Re is a Bermuda-based reinsurer that underwrites both catastrophe and life and annuity reinsurance.

TerraNova (Bermuda) Holdings Ltd.

Century Capital teamed with an experienced team of insurance executives to purchase and restructure an existing group of insurance companies and a managing general agent to enter the Lloyd’s of London marketplace. Terra Nova (NYSE: TNA) is a Bermuda-based holding company organized in December 1994 to participate in global insurance and reinsurance markets through operating companies based in London and Bermuda. The company acquired Terra Nova Insurance Co. Ltd., as well as Underwriters Capital (Merrett) Ltd., as a strategic entry into the Lloyd's market. Terra Nova also acquired the ongoing business of Octavian Syndicate Management, a managing agency providing underwriting services and support for five Lloyd's syndicates.

Wellington Underwriters plc

As the first investment in the Lloyd’s market for the firm, Century capitalized on the historic opening of Lloyd’s of London to institutional investors in the mid 1990’s. Wellington Underwriting (LSE: WUN) was formed in 1994 as a corporate investment vehicle dedicated to underwriting insurance risks through Lloyd's syndicates managed by Wellington Underwriting Agencies Limited. The partnership subscribed to a November 1995 rights offering made in connection with the company's conversion to becoming a listed trading company. Today, Wellington combines the discipline and security of a conventional corporate insurer with the entrepreneurial flair and the decision-making agility of a Lloyd's-based underwriter.

InSystems, Inc. (acquired by The Standard Register Company)

As insurance carriers struggled to understand how the Internet could best be used to improve the efficiency and cost structure of their operations, Century Capital Management made an investment in InSystems. The investment capitalized on the company’s ability to enable insurance companies to use the Internet to streamline product lifecycle and manage business critical relationships through its document management and relationship management software solutions. Its eXtended Relationship Management (XRM) solutions allow insurance companies to manage relationships with customers, agents, brokers and regulators. The XRM solutions are delivered through a proven set of tools including: content assembly, management and workflow, regulatory compliance automation, intelligent compliant e-forms, batch processing, technology connectors and Software Development Kits.

National Healthcare Resources, Inc. (acquired by Concentra)

The tremendous rise in insurance fraud, especially within the workers compensation and personal auto insurance sectors created a need for independent, third party medical review of persons that filed accident-related claims. Recognizing this need, Century Capital Management invested in NHR, Inc. a company that provided independent medical and case review services to insurance companies.

The Galtney Group, Inc. (acquired by A.J. Gallagher)

Century Capital Management invested in The Galtney Group having recognized the Company’s ability to generate significant profits through an insurance brokerage operation specializing in professional liability and medical malpractice insurance coverage. This specialization gave Galtney a better ability to understand the insurance needs of their clients than could a general brokerage. It ranks as one of the 24 largest insurance brokers in the United States and one of the most productive as measured by revenues per employee. Originally focused on emergency medicine exposures, it's now recognized as the leading broker in the health care industry with an ability to tailor products for corporate medicine.

Montpelier Re Holdings, Ltd. (Public NYSE: MRH)

After the tragedy of September 11th there was a lack of adequate capital in the international reinsurance market. MRH was capitalized to fill the aforementioned vacuum by underwriting a broad range of reinsurance and insurance classes on a worldwide basis. MRH is focused on lines of business that provide an opportunity to achieve superior returns on capital including property catastrophe reinsurance, commercial property insurance and reinsurance, and property retrocession reinsurance. The Company successfully completed an initial public offering in October of 2002.