Gallatin Point Capital, a private investment firm, agreed to acquire a majority stake in Trusted Resource Underwriters Exchange, a reciprocal insurer serves homeowners from American Family Insurance, a property and casualty insurance group, for $1.25bn. “We are excited to be part of TRUE’s journey as it enters a new phase of growth, and we believe that our investment aligns perfectly with TRUE’s long-term vision and Gallatin Point’s commitment to the insurance sector. The regulatory changes in Florida present a unique opportunity for us to contribute to the stability of the market and provide crucial support to homeowners in the region. With TRUE’s leadership team, combined with the strength of American Family’s industry expertise and our capital investment, we are confident in the prospect of TRUE supporting homeowners as a fully national insurance company over time,” Matthew Botein, Gallatin Point Co-Founder and Managing Partner.