SPACs

A vote on July 29 is expected to be less nerve-racking than once predicted, with investor appetite warming on the prospect of InsurTech SPAC mergers.

As part of expansion plans, Kin has also signed a stock purchase agreement to acquire an inactive insurance carrier that holds licenses in more than 40 states.

The InsurTech is said to be in negotiations with blank check company PWP for a merger.

Every market is going to have to decide where they stand on the issue of SPACs, said AIG’s head of North America financial lines.

The SPACs merging with Hippo, Doma and Qomplx are all trading below the redemption price.