Houlihan Lokey Advises Newport Specialty Partners

Houlihan Lokey is pleased to announce that Newport Specialty Partners (Newport), a newly formed specialty insurance platform backed by Lovell Minnick Partners (LMP), has made a majority investment in Complex Coverage, Inc. (“Complex Coverage” or “CCI”), a leading managing general agency focused on homeowners and personal lines coverage in New York.

Founded in 1997 and headquartered in Huntington, New York, Complex Coverage provides producers with access to specialized property insurance solutions through long-standing carrier relationships. The company has built a strong reputation for underwriting expertise, responsive service, and deep knowledge of the New York market.

Newport is a specialty insurance distribution platform focused on building and supporting leading managing general agencies and program administrators across the property and casualty market. Backed by LMP, Newport partners with experienced underwriting teams to support long-term growth while preserving the underwriting discipline and entrepreneurial culture that drive success in the MGA sector.

The transaction represents Newport’s first platform acquisition and establishes a strong foundation for the firm’s broader strategy of building a diversified MGA and specialty insurance distribution platform.

LMP, a private equity firm focused on investments in financial services, business services, and financial technology companies, partnered with Newport to support the launch of the platform and the acquisition of CCI.

Complex Coverage’s leadership team will continue to manage the business and remain actively involved going forward. The partnership with Newport will support CCI’s next phase of growth, including expanded carrier capacity, broader product offerings, and continued investment in operational infrastructure to better serve its producer partners.

Houlihan Lokey served as financial advisor to Newport and LMP.

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