Obsidian Insurance Holdings, Inc.: add-on acquisition by Daiichi Life Group, Inc.
Add-on acquisitionbuyer Daiichi Life Group, Inc.
Protective completes acquisition of Obsidian, establishing specialty property and casualty business line
- Announced
- Nov 2, 2026
- Closed
- Nov 2, 2026
closedadd-onFact
13 additional comparable deals, 6 additional named parties
Every relationship, signal and contact on this record, with the source on each.
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What happened
- Platform
- Protective Life Insurance Companyadd-on basis: Protective Life Insurance Company is held by Daiichi Life Group, Inc. (holding evidence https://abry.com/news-article/abry-partners-announces-sale-of-fi-and-dealer-reinsurance-leader-portfolio-to-protective-life/)
- Control
- Control
- Share acquired
- unknown
- Industry
- unknown
- Target location
- unknown
- Seller kind
- Sponsor
- Rollover
- unknown
Values and comparable deals
No value was disclosed for this deal: no enterprise value, price, equity value, revenue, EBITDA or multiple.
Near comps
- Similar because: same sector (financial services), same kind of deal (add-on acquisition), both control deals, 2 months apart
- Similar because: same sector (financial services), same kind of deal (add-on acquisition), both control deals, 4 months apart
- Similar because: same sector (financial services), same kind of deal (add-on acquisition), both control deals, 5 months apart
13 more comparables open with the complete profile.
Values print only where a source disclosed them; no multiple or price is estimated. No location or disclosed value is on this record, so the match could not use them.
Parties and roles
9 named
Buy side
- ““We are proud of what the Obsidian team has built since the company’s formation six years ago,” said Ryan Clark, President and Managing Partner at Genstar Capital.”
- “Protective Life Insurance Company is held by Daiichi Life Group, Inc. (holding evidence https://abry.com/news-article/abry-partners-announces-sale-of-fi-and-dealer-reinsurance-leader-portfolio-to-protective-life/)”
- “Protective Life Insurance Company is held by Daiichi Life Group, Inc. (holding evidence https://abry.com/news-article/abry-partners-announces-sale-of-fi-and-dealer-reinsurance-leader-portfolio-to-protective-life/)”
Evidence
“Protective Life Corporation (Protective), a U.S. subsidiary of Daiichi Life Group, Inc. (Daiichi Life, TSE:8750), today announced that its principal subsidiary, Protective Life Insurance Company, has completed its acquisition of Obsidian Insurance Holdings, Inc. and its affiliates (Obsidian) from funds advised by Genstar Capital.”