Genstar's AWL to Buy Bankrate's Insurance Division for $165M
November 09, 2015
Genstar Capital portfolio company All Web Leads has agreed to acquire the insurance division of Bankrate (NYSE: RATE) for $165 million. As part of the transaction, expected to close by year end, the newly purchased company will be renamed insuranceQuotes.com. Upon closing, AWL’s clients will include the top 20 U.S. property and casualty insurance carriers, most of the largest U.S. health insurers and over 30,000 individual insurance agents and agencies in all 50 U.S. states. Genstar backed the platform earlier this year.