Vistria-Backed Crestfield Risk Launches to Unite and Support Leading Independent Insurance Agencies

Founded by industry leader Jeff Turner, Crestfield Risk aims to bring together leading independent agencies

DALLAS, May 21, 2024 /PRNewswire/ -- Crestfield Risk, a partnership platform that unites and supports leading independent insurance agencies across the U.S., launched today. Founded by industry leader Jeff Turner, the platform will equip agencies with world-class resources, insights, and unprecedented growth opportunities to best serve their clients and prosper for generations to come. The platform is backed by The Vistria Group, LP, a next-generation private investment firm that operates at the intersection of purpose and profit.

"Independent insurance agencies are part of the backbone of their communities, providing trusted risk management services," said Jeff Turner, Founder and CEO of Crestfield Risk. "In partnership with The Vistria Group, we are launching Crestfield Risk to help independent insurance agencies fuel their continued success and amplify their impact by fostering a collegial environment rooted in principled service and shared aspirations."

With a co-ownership model that aligns agency partners through equity ownership at both the agency and holding company level, Crestfield Risk collaborates closely with agency leaders so that they can preserve their businesses' unique strengths. At the same time, Crestfield Risk ensures that agencies get the resources they need to deliver unmatched service and meaningful impact on a larger scale than ever before.

"Crestfield Risk stands out because of its deep focus on enabling long-term agency prosperity," said Mike Castleforte, Senior Partner and Co-Head of Financial Services at The Vistria Group. "We are excited to partner with Jeff and support Crestfield Risk's trailblazing platform that strengthens agencies' abilities to deliver for their clients and communities."

Prior to founding Crestfield Risk, Turner served as CEO of Keystone Agency Partners, where he helped build an industry leading platform. Before that, Turner held several leadership roles at Willis Towers Watson. He started his career as an independent insurance agent based in Texas.

"We are thrilled to partner with Crestfield Risk and deliver best-in-class resources to agency leaders," said Boris Rapoport, Senior Partner and Co-Head of Financial Services at The Vistria Group. "At The Vistria Group, we pride ourselves on having deep industry knowledge in the sectors where we invest. Jeff's extensive experience and strong reputation in the industry make him an ideal partner for us and for leading independent insurance agencies."

In addition to partnering with Turner, The Vistria Group plans to leverage its unique operating partner network to help build Crestfield Risk into an industry leader, including the addition of board members Cyrus Walker, a long-term insurance executive, and Albert Benchimol, retired CEO of Axis Capital.

BMO Capital Markets acted as exclusive financial advisor to Crestfield Risk on the partnership with The Vistria Group.

To learn more about Crestfield Risk's approach to purposeful collaboration, visit www.crestfield.com.

About Crestfield Risk
Crestfield Risk is a united partnership platform that supports and strengthens leading independent insurance agencies across the U.S. We equip agencies with world-class resources, insights, and growth opportunities to best serve their clients and prosper for generations to come. For more information, please visit www.crestfield.com. 

About The Vistria Group
The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge and learning solutions, financial services and housing that deliver value for investors as well as communities, employees, and consumers. With over $12 billion in AUM (including co-investment and co-investment vehicles), The Vistria Group looks deeper by working as a true partner, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. For more information, please visit www.vistria.com.

SOURCE Crestfield Risk