Start-ups
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Some sources argue that now is the time for new management teams to tap into the market with fresh platforms. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The fund will primarily focus on early-stage investments in North America with an emphasis on insurance innovation.
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The former executive is looking for $40mn to $80mn of new capital, sources suggested.
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Names such as Next Insurance, Policygenius and Root have all announced layoffs to rein in expenses in worsening economic conditions.
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It is understood that the outgoing exec left the company amid operational challenges and that the company has shrunk its workforce.
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Industry veteran Beau Freyermuth worked at Hub International for 20 years before jumping to Newfront.
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Clay Rhoades, formerly US E&S president, is named the new insurer’s CEO and will continue to report to Hamilton Insurance CEO Pina Albo.
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Greenlight Re Innovations invests in platform that can provide on-demand, per-shipment cover.
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The move is the latest in a flurry of steps Trean has taken to expand its presence in the white-hot programs market, and among a wave of fronting carriers that have entered the sector in recent years.
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Carl Bauer-Schlichtegroll said InsurTechs in the IPO market attracted a lot of investors who did not understand the complexities of the insurance market.
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The Floridian InsurTech will use around $50mn for policyholder surplus, sources said.
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