Lewis & Ellis Acquires Alan Gray to Enhance Insurance Services

Lewis & Ellis, Inc., part of Novacap's portfolio, has finalized its acquisition of Alan Gray LLC and A.G. Risk Management, Inc. from Premia Holdings Ltd., marking the firm's latest move to reinforce its position as a leading comprehensive insurance services platform.

This acquisition, completed on August 31, 2026, underscores Lewis & Ellis’s strategic push towards diversification since 2023, following its partnership with private equity firm Novacap. Known for its nearly six-decades-long legacy in actuarial consulting, this expansion integrates Alan Gray’s profound expertise in claims consulting and litigation support. This combination allows Lewis & Ellis to provide a versatile array of services, ranging from actuarial and regulatory consulting to complex claims and forensic accounting.

According to Cabe Chadick, President and Managing Principal of Lewis & Ellis, this development aligns with the firm's strategy to build a diversified platform that integrates its core actuarial knowledge with Alan Gray's operational prowess. Chadick emphasized, "Actuarial expertise remains the foundation of Lewis & Ellis. This acquisition links our pricing, reserving, and regulatory work with in-depth claims and operational experience, aligning with our strategy of building a diversified insurance services platform while remaining sound in technical rigor."

This acquisition is part of Lewis & Ellis’s ongoing strategy to blend actuarial precision with broader insurance expertise, a strategy also reflected in their previous acquisitions of Huggins Actuarial Services and Griffith, Ballard & Company. By enhancing their capabilities in life, health, and property and casualty insurance, the firm aims to provide clients with innovative solutions that balance professional integrity with technical excellence.

Alan Gray’s track record in handling complex claims and associated legal and financial analyses makes it a perfect complement to Lewis & Ellis’s service offerings. Bill O’Farrell, CEO of Premia, highlighted Alan Gray's strength in trust and client service, expressing confidence that Lewis & Ellis will continue to uphold these values.

The successful closure of this transaction involved prominent advisory roles, with Houlihan Lokey acting as financial advisor to Premia and Kelso & Company, while legal assistance was rendered by Mayer Brown and Foley & Lardner for the involved parties.

For insurance professionals, this acquisition signals a broadening of resources available to manage insurance risks across various sectors. As Lewis & Ellis continues to integrate diverse expertise, the industry should watch for further expansions that could redefine how actuaries, claims consultants, and legal experts collaborate to deliver enhanced risk management solutions.