GI Partners-backed Insurity completed the acquisition of Instec.

GI Partners-backed Insurity, a provider of technology solutions for insurance services, completed the acquisition of Instec, a designer of software for the insurance industry. Financial terms were not disclosed. “This is a win for P&C carriers and MGAs as they are focused on rapidly introducing innovative insurance products. Instec’s strong experience and offerings, and Insurity’s proven solutions will empower insurers to cut the time to introduce new types of coverage across diverse risks. P&C carriers and MGAs will be able to introduce new products in half the time. Quickly offering coverage for new risks will accelerate innovation by providing insurance for a wide group of new and emerging businesses," Chris Lafond, Insurity CEO.