OMAHA, Neb.–(BUSINESS WIRE)–Omaha National Group, Inc. (“Omaha National”), a leading workers’ compensation technology provider, today announced a $20 million senior unsecured debt financing facilitated by Cohen & Co., a financial services firm specializing in the fixed income markets. The notes bear a fixed rate of 6.8% with a term of 10 years.
“Omaha National is strengthening its balance sheet with this financing, which will allow us to better serve our customers as a comprehensive carrier and facilitate financial strength ratings,” said Bryan Connolly, chief financial officer of Omaha National.
“Cohen and Company is proud to support Omaha National as the company seeks to grow its capital structure to align with its long-term development plans,” said John Butler, managing director of Cohen & Company. “We are delighted to combine our expertise in the insurance industry with the leadership of Omaha National and look forward to our relationship with the organization and its management team.”
This latest funding follows Omaha National’s $45 million Series B funding round in 2021, which was led by Accomplice and included investors High Sage Ventures and Tull Investments. Agman, a Chicago-based investment firm, remains the lead and founding investor.
About Omaha National:
Omaha National serves the businesses that build America and make it work; small and medium-sized businesses where people work with their hands and are at greater risk of injury. Our proprietary software improves our operations to better serve our customers and their injured workers. Omaha National offers AM Best A (Excellent) rated workers’ compensation coverage through more than 2,500 agencies. Since our launch in 2016, the company has over 200 employees and over $140 million in premiums in force.
About Cohen & Company:
Cohen & Company is a financial services firm specializing in bond markets and, more recently, SPAC markets. It was founded in 1999 as an investment company focused on small cap banking institutions, but has grown to provide a growing range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management and Principal Investment. For more information, please visit www.cohenandcompany.com.