Partnership to support Arden’s continued expansion and deepen technology capabilities to address the needs of condo associations across the United States
GLENDALE, California – Arden Insurance Services LLC (“Arden”), a tech-enabled managing general agent (MGA) specializing in insurance for residential condominium associations, today announced a significant investment from FTV Capital, a sector-focused growth equity investment firm. FTV’s investment will enable Arden to further penetrate the core condominium association market by expanding into new geographies, supporting talent recruitment and enhancing its advanced proprietary technology platform.
Founded in 2016, Arden combines specialized underwriting tools, deep industry expertise and machine learning to drive operational efficiency and industry-leading underwriting results tailored for residential condominium associations. This approach has allowed Arden to deliver cutting-edge solutions and high-quality service to its brokers at a time when several major insurance carriers have stepped back from the market, paving the way for its rapid, profitable growth within both admitted and excess and surplus lines (E&S) segments across 11 states.
Underpinning Arden’s success has been its data-enabled automated workflow that allows underwriters to quickly bind policies and more accurately assess risks, with proprietary risk scoring powered by machine learning. With FTV’s partnership, Arden intends to invest further in its tech stack in order to better price risk and provide creative solutions for its brokers and their clients.
“We are thrilled to partner with a firm of FTV Capital’s caliber as we launch the next phase of Arden’s rapid growth,” said Brian Cohen, co-founder and CEO of Arden Insurance Services. “FTV brings a wealth of insurance industry expertise to the table, and we have admired the firm’s track record of success fostering productive, collaborative relationships with high-growth companies across the insurance and financial services landscape. We look forward to continuing to institutionalize and scale our industry-leading offering with FTV’s support while remaining true to our core values, providing clients with the best-in-class services they have come to expect.”
“As large insurance carriers continue to pull back from the condo association segment, Arden has established itself as a differentiated leader driven by its specialized underwriting capabilities, tech-enabled workflows and strong broker relationships helping it better meet clients’ needs,” said Mike Vostrizansky, partner at FTV Capital. “The company has demonstrated impressive performance with strong policy retention rates, transparent risk analysis and industry-leading loss ratios. We have high conviction in Arden’s ability to continue their strong growth and are thrilled to partner with Brian and the talented team at Arden on their mission to deliver innovative insurance solutions to condo associations across the country.”
Arden has seen consistent, profitable growth since its founding. A recognized industry leader, Arden was awarded the Innovation in Insurance Award by the Program Manager at its annual E&S Insurer Conference this past March. In October, Arden was recognized as an Insurance Luminary by Property Casualty 360 for its unique wildfire parametric product.
Dowling Hales served as exclusive financial advisor and McDermott Will & Emery LLP as legal counsel to Arden. Massumi + Consoli LLP served as legal counsel to FTV Capital.