TPG-backed Third Wave Insurance completed the acquisition of Palmer & Cay.

TPG-backed Third Wave Insurance, a retail insurance brokerage platform, completed the acquisition of Palmer & Cay, a specialty commercial insurance and employee benefits brokerage and consulting firm. Financial terms were not disclosed. “Throughout its 150+ year history, Palmer & Cay has built a client-focused culture that is fueled by attracting and developing top industry talent. Their team is an ideal anchor partner for Third Wave Insurance, and we see a significant opportunity to build on their impressive momentum, while scaling the platform through both organic and inorganic expansion,” BJ Loessberg, TPG Growth Business Unit Partner.