Novel Financial Holdings Secures Investment from Flexpoint Ford

Investment to support Novel's continued build-out as a diversified underwriting and insurance services holding company

JERSEY CITY, N.J., June 22, 2026 /PRNewswire/ -- Novel Financial Holdings, Inc. ("Novel" or the "Company"), a holding company that is building a diversified underwriting and insurance services platform, today announced it has received an investment from Flexpoint Ford ("Flexpoint"), a specialist private equity firm focused on financial services and adjacent verticals. The investment is being made from Flexpoint Asset Opportunity Fund III and Flexpoint Insurance Opportunity Fund I and will support Novel's continued expansion. This investment from Flexpoint broadens Novel's ownership base, reinforcing its position as an independent insurance platform.

Led by a team of respected industry veterans, Novel manages both policyholder-owned reciprocal exchanges through ownership of attorney-in-fact ("AIF") entities and traditional stock insurance companies through direct ownership and service contracts. By combining fee income from AIFs and other service arrangements with operating results from its owned insurance carriers, Novel is building a business with increased scale and diversification across both underwriting exposures and revenue type, supported by expert underwriting program partner selection, and relationships with established underwriting partners, including SageSure Insurance Managers LLC ("SageSure"). Novel's portfolio currently includes Forza Insurance Holdings, owner of the AIF entities that manage SureChoice Underwriters Reciprocal Exchange ("SURE") and Elevate Reciprocal Exchange ("Elevate"), and the GeoVera Nova group of companies ("GeoVera Nova"). Across these businesses, Novel supports a diversified portfolio of residential homeowners, residential earthquake, business, and commercial residential insurance, including through GeoVera Nova's A.M. Best rated insurance companies.

Effective April 1, 2026, GeoVera Nova became a wholly owned subsidiary of Novel via a share exchange among substantially common existing shareholders, bringing the business under Novel as part of the Company's planned build-out of a diversified insurance platform. GeoVera Nova will continue to operate with its existing leadership team and underwriting, claims, and distribution relationship with SageSure, while gaining the benefit of Novel's diversified operating model and experienced management team. AM Best recently affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of GeoVera Nova's rated members, each with a stable outlook.

"As we continue to scale and diversify Novel, we are excited to partner with Flexpoint given their deep investment experience across the insurance value chain. Flexpoint brings not only flexible capital but also meaningful sector expertise and relationships that will support our growth for years to come," said Rob Bredahl, Chief Executive Officer of Novel.

Flexpoint has been investing across the property and casualty insurance value chain for over two decades, with significant experience partnering with growth-oriented platforms across underwriting, distribution, and insurance services. The investment in Novel leverages the firm's institutional knowledge and relationships in the insurance sector and its experience structuring flexible financing solutions across the capital structure.

Dominic Hood, Managing Director of Flexpoint noted "We have known Rob and the Novel management team for many years and have great admiration for what they have accomplished across the insurance industry. We are excited to support Novel's build-out as a differentiated holding company in the P&C insurance sector that combines fee-based insurance services with the ability to deploy balance sheet capital across multiple classes of business and throughout the underwriting cycle."

About Novel Financial Holdings
Novel is an independent holding company that oversees insurance carriers supporting managing general underwriters (MGUs). Novel manages both policyholder-owned reciprocal exchanges through ownership of AIF entities and traditional stock insurance companies through direct ownership and service contracts. Across its platform, Novel managed carriers write approximately $2 billion of annual gross written premium across various lines of business. By combining the fee income from AIFs and other service arrangements with operating results from its owned insurance carriers, Novel is building a diversified underwriting and insurance services business. For additional information, visit novelfh.com.

About Flexpoint Ford
Flexpoint is a specialist private equity firm focused on financial services and adjacent verticals. Founded in 2005, the firm manages approximately $9.0 billion in assets and operates as a single, integrated platform investing through two complementary strategies: Private Equity and Asset Opportunities. Over two decades, Flexpoint has completed more than 100 investments, leveraging deep sector expertise and structural flexibility to drive long-term value across a wide range of investment structures and market cycles. Flexpoint is headquartered in Chicago with offices in New York and Miami. For additional information, visit flexpointford.com.

Media Contacts

Novel Financial Holdings
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Flexpoint Ford
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SOURCE Flexpoint Ford