ICG Increases Ownership Stake in SeaPass Solutions

ICG Group, Inc., announces it has increased its primary ownership in SeaPass Solutions, a provider of web-based insurance distribution solutions to the property & casualty insurance industry, from 38 percent to 52 percent. The ownership increase was achieved by purchasing equity stakes from existing holders for a total of $13 million. ICG is consolidating the financial results of SeaPass beginning December 31, 2012.

SeaPass provides a platform that allows its insurance industry partners to serve all of the insurance needs of their customers, while driving market share, retention and increasing revenue per customer. SeaPass provides access to immediate quotes and expert guidance that helps end customers select the product that best suits their needs.