Lewis & Ellis Builds Diversified Insurance Services Platform with Acquisition of Alan Gray

DALLAS, Oct. 14, 2026 (GLOBE NEWSWIRE) — Lewis & Ellis, Inc. (“Lewis & Ellis”), a Novacap portfolio company, announced today that it has acquired Alan Gray LLC and A.G. Risk Management, Inc. (collectively, “Alan Gray”) from Premia Holdings Ltd. (“Premia”). The transaction closed on August 31, 2026, and is Lewis & Ellis’s third add-on acquisition since partnering with Novacap in 2023. It marks a significant milestone in the firm’s evolution into a diversified insurance services platform.

Built on nearly six decades of actuarial consulting experience, Lewis & Ellis is broadening its ability to help clients understand and manage insurance risk. The combination brings together Lewis & Ellis’s actuarial and regulatory expertise with Alan Gray’s capabilities in specialized claims consulting, litigation support and insurance operations. Clients gain access to a broader team of specialists across pricing, reserving, complex claims, forensic accounting, legal expense management, and run-off and estate administration within one organization.

“Actuarial expertise remains the foundation of Lewis & Ellis,” said Cabe Chadick, FSA, MAAA, President & Managing Principal of Lewis & Ellis. “Our clients face increasingly complex challenges that require multidisciplinary solutions. Bringing Alan Gray into Lewis & Ellis connects our pricing, reserving and regulatory work with deep claims and operational experience. This is an important step in our long-term strategy to build a diversified insurance services platform that serves clients across the risk and insurance value chain, while remaining grounded in the technical rigor that has always defined our firm.”

Founded in 1988, Alan Gray serves insurers, reinsurers, law firms and other insurance market participants. Its experience in complex claims, litigation and legacy insurance liabilities complements Lewis & Ellis’s actuarial and regulatory practices across life, health and property & casualty insurance.

“Alan Gray’s strength has always been its people and the confidence clients place in their expertise,” said Bill O’Farrell, Chief Executive Officer of Premia. “Lewis & Ellis brings complementary capabilities and a shared commitment to high-quality client service. We believe this combination provides a strong foundation for Alan Gray’s next chapter, giving its professionals broader resources to support their clients.”

The acquisition follows Lewis & Ellis’s combinations with Huggins Actuarial Services and Griffith, Ballard & Company. Together, the three acquisitions reflect a consistent strategy: bringing complementary specialists together to serve insurance clients more comprehensively, while building on the professional integrity, technical excellence and long-term relationships that distinguish each firm.

Advisors

Houlihan Lokey served as exclusive financial advisor to Premia and its shareholder Kelso & Company, and Mayer Brown served as legal counsel. Foley & Lardner served as legal counsel to Lewis & Ellis.

Partnership and Service Inquiries

For information about services offered by Lewis & Ellis and Alan Gray, or to explore a partnership with Lewis & Ellis, please contact:
Cabe Chadick, FSA, MAAA
President & Managing Principal
cchadick@lewisellis.com

About Lewis & Ellis

Lewis & Ellis is a diversified insurance services platform helping clients manage risk, navigate complex challenges and strengthen their operations. Serving the life, health and property & casualty markets, the firm delivers actuarial, regulatory, claims and operational solutions backed by specialized expertise and technology. Since 1968, Lewis & Ellis has earned client trust through practical advice, innovative thinking and cost-effective service. The firm continues to expand its geographic reach and capabilities through organic growth and acquisitions, guided by professional integrity and a commitment to long-term client relationships.

For more information, visit www.lewisellis.com.

About Alan Gray

Established in 1988 and headquartered in Boston, Massachusetts, Alan Gray LLC provides specialized insurance consulting services, including claims consulting, quantitative analysis, forensic accounting and legal expense management. Together with its subsidiary A.G. Risk Management, Inc., the business also offers run-off and estate administration, reinsurance services, and accounting and operational support. Alan Gray serves insurers, reinsurers, law firms and other insurance market participants with a focus on technical expertise, practical solutions and trusted client relationships.

For more information, visit www.alangray.com.

About Premia

Premia is a reinsurance group providing its clients with compelling solutions to address discontinued or legacy non-life insurance and reinsurance portfolios or companies. With operations in Bermuda, the United States, the United Kingdom (including at Lloyd’s) and Continental Europe, Premia has assumed over $5 billion in insurance liabilities via reinsurance transactions and acquisitions.

For more information, visit www.premiaholdings.com.

About Novacap

Novacap is a North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries, and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US$12 billion in assets under management and a presence across offices in Montreal, Toronto and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

For more information, visit www.novacapcorp.com.

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