Altaline Capital Management makes a strategic growth investment in Risk & Regulatory Consulting (RRC), a provider of actuarial, financial and information technology, compliance and related services to US insurance regulators. Ellen Charnley joins the RRC board alongside John Haley, Sebastian O’Neill and Rafael Telahun of Altaline. Charnley served as president of Marsh Captive Solutions for seven years to the end of 2024, capping more than 28 years in captive insurance. Marsh Captive Solutions manages approximately 1,900 captives across more than 55 domiciles. Haley was chief executive officer of Willis Towers Watson from 2016 to 2021 and led its predecessor businesses from 1998. Both directors were recruited through the Altaline Executive Network, which introduces the firm’s platform companies to executives who have led businesses in adjacent markets. RRC was founded in 1988 and employs close to 160 professionals, serving 44 states and jurisdictions. Its work spans financial and information technology examinations and analysis, market conduct examinations, actuarial services, insolvency and receivership support, market studies and investment analysis. Its leadership, teams and services are unchanged, with LeeAnne Creevy and Tricia Matson continuing as co-chief executive officers. Altaline says demands on state insurance regulators have risen steadily, with climate exposure, cyber risk, increased investment in private credit securities and the spread of artificial intelligence and automation in insurers’ operations now appearing routinely in regulatory reviews, alongside the shift towards excess and surplus lines and the use of fronting and captive structures. The firm intends to support RRC in adding credentialed actuaries and specialists to meet that demand. The investment is the fourth platform investment in the last twelve months within Altaline’s compliance, safety and risk thematic investment initiative. Sebastian O’Neill, principal at Altaline, says: "As part of our investment research work, we found the public sector actuarial solutions market to be compelling and RRC, in particular, to have all the attributes we look for here at Altaline. Nearly four decades of regulatory relationships, genuine technical depth and national coverage." Matson says: "We want to serve more regulators, and provide more of what they need, than we can today. That takes credentialed people and it takes capital. Altaline is committed to both." Matson adds that RRC will implement Altaline’s broad-based employee ownership programme, allowing substantially all staff to become equity owners in the business for the first time, and its domestic technical talent training and apprenticeship programme.
