Start-ups
-
The syndicate will be Asta managed and have capacity from Hampden Names.
-
It is backed by paper from MS Transverse, this publication understands.
-
The business has raised $250mn from backers including PartnerRe, RenRe, Starr and Amwins.
-
The company is aiming for a 2024 Florida rollout, offering HO-3 and DP-3 policies.
-
The carrier expects to re-emerge after operating as going-concern Anchor.
-
It is understood that the InsurTech began fundraising late last year.
-
The executive had been scoping out a new venture since late 2022, working alongside Bob Cooney on the first iteration.
-
The former Aegis London CEO joins former AIG, Marsh McLennan and Ace CEO Brian Duperreault at the start-up.
-
Reciprocals have been cropping up more recently, with a shift toward cat-exposed lines, giving investors a quick way to tap into the hard market with an expectation of a rich multiple at exit.
-
Farmers’ agents in Florida will be offered an appointment with Slide. Renewals issued by Slide will begin for February 2024 effective dates.
-
The platform enables users to create, manage and archive live transaction conversations across deals and across companies in one place.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The group structure would constitute a Bermuda-based rated carrier, and an associated fund structure.
-
The reciprocal exchange received a consent order on Friday and is expected to begin underwriting in December
-
The start-up was previously targeting a $75mn raise. Investor meetings started last week and will continue into next week.
-
-
Village Protection is expected to be operational on or before January 2024.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
City of London grandee Martin Gilbert is attached to the project in a non-executive capacity, sources said.
-
Andrew Lewis has outlined growth plans for Xitus, a niche global legacy firm he has co-founded that will focus on non-life and reinsurance deals of $5mn-$50mn.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The former reinsurance CEO had previously parted ways with Bob Cooney after working together on a reinsurer start-up last year.
-
2022 marked a reversal from last year’s unprecedented levels of global investment in InsurTech as the macroeconomic scenario flipped and investors put lossmaking companies under a magnifying glass.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
Even if venture debt has always been around, sources said InsurTechs are approaching the market in different ways, as they struggle to raise equity rounds at attractive valuations.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Private equity is cautious around even the hard market opportunity in cat.
-
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.
-
The fund will primarily focus on early-stage investments in North America with an emphasis on insurance innovation.
-
The former executive is looking for $40mn to $80mn of new capital, sources suggested.
-
Names such as Next Insurance, Policygenius and Root have all announced layoffs to rein in expenses in worsening economic conditions.
-
It is understood that the outgoing exec left the company amid operational challenges and that the company has shrunk its workforce.
-
Industry veteran Beau Freyermuth worked at Hub International for 20 years before jumping to Newfront.
-
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.
-
Greenlight Re Innovations invests in platform that can provide on-demand, per-shipment cover.
-
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.
-
Carl Bauer-Schlichtegroll said InsurTechs in the IPO market attracted a lot of investors who did not understand the complexities of the insurance market.
-
The Floridian InsurTech will use around $50mn for policyholder surplus, sources said.
-
The new workplace will house the firm’s US cyber and transactional liability teams.
-
Jon Hutchens has been a tax lawyer for the last 14 years, most recently serving as a partner at Dentons.
-
The broker is developing solutions to accurately quantify intangibles including IP
-
Ambac’s fronting company Everspan has acquired Enstar’s subsidiary Providence Washington Insurance (PWIC) as part of its strategy to launch new admitted programs and expand its products portfolio.
-
Foundation Capital, Revolution’s Rise of the Rest Seed Fund, Clocktower Technology Ventures, Sure Ventures, and several angel investors, also joined the seed funding round.
-
Durable Capital, T Rowe Price Associates and Whale Rock Capital led the InsurTech’s latest round.
-
The executive joined Vantage on Monday, after spending the last 10 years at Axa XL.
-
The Silicon Valley-based Vouch, launched in 2019, raised $90mn at a $550mn valuation in its Series C round.
-
The Greg Hendrick-led firm added Richard Wall from Axa XL, Bhuma Patel from CNA, and Leona Lik from Aon for the buildout.
-
Eigen Technologies, which helps insurers and brokers extract and digitise data from various sources, hopes to accelerate growth with new investment in the London market.
-
The latest funding round was co-led by Icon Ventures and Lightspeed Venture Partners.
-
The new company will be named Newfront and is expected to place $2bn in premiums annually.
-
The executive will exit the Greg Hendrick-led start-up on July 2.
-
AIG, Axis, Chubb, Travelers, and The Hartford are among the underwriters to support the launch.
-
Ahead of its expected July 1 start, the underwriter promised “efficient and transparent processes” and “consistent decision-making".
-
The latest funding round brings the company’s total funding to date to $82.5mn.
-
The pair will work in New York under the leadership of former Willis executive William Monat.
-
Root’s reinsurance buyer Espinoza said that reinsurers had been receptive and appreciative.
-
Draper Esprit, Astanor Ventures, Lowercarbon Capital, Future Positive Capital and Time Ventures participate in financing round.
-
The start-up said it would use the additional funding to double headcount by 2021.
-
The long-rumoured appointment will see the former Ironshore executives jointly lead the Bermuda start-up.
-
The insurance price comparison business expanded net revenue by more than 100% in 2020 to $79mn and currently has a run rate of $150mn.
-
It is only six months since Next announced its Series D round at a $2bn valuation.
-
Core Specialty will retain some premium and risk on the underlying business before transferring defined natural catastrophe risks to the ILS manager.
-
Heffernan Insurance Brokers contributed to the raise, which was led by Mercato Partners.
-
The raise is understood to value the business at about $100mn.
-
The move adds actuarial muscle to Qomplx in the wake of the start-up’s agreement to merge with Tailwind, a SPAC.
-
The company launched in 18 states last year and plans to enter 11 new markets in 2021.
-
The start-up uses artificial intelligence to streamline insurance distribution and underwriting.
-
The entity plans to retain up to 30% of risk per program.
-
The fund will invest in global "growth-stage” InsurTech and FinTech companies.
-
Kornick was formerly the chief analytics officer at UK insurer Aviva.
-
The InsurTech could be merged into Reinvent Technology Partners, as Metromile prepares to go public in a similar transaction, Bloomberg reports.
-
The latest of a cohort of start-ups will focus on specialty lines syndicated on a global basis through Lloyd’s.
-
The move into commercial insurance follows Relay’s development of reinsurance placing tools last year.
-
French startup Akur8 automates risk modelling processes for insurers.
-
The move follows the company hiring new InsurTech partner Adrian Jones last month.
-
The start-up MGA is working with TigerRisk to structure (re)insurance capacity for the business.
-
Dana Bjornson joins the business from investment bank George K Baum & Company.
-
Companies with strong brands still fall down on “traditional success criteria”, the InsurTech head says.
-
Engineering Capital, Correlation Ventures, Innovation Endeavors and Sure Ventures contributed to the round.
-
Celerity will write public and private D&O business for the wholesale insurance market.
-
Abu Dhabi sovereign wealth-backed Mubadala becomes an Arbol investor.
-
The former Validus exec will become CEO, with current chief executive Larry Hannon set to remain in a senior role.
-
Sharon Fernandez’s hire follows the appointment of Munich’s Andy Rear as Buckle chairman last year.
-
At-Bay has grown gross written premiums by 600% in the last year.
-
The US carrier has offloaded a tranche of liability business written out of London.
-
The CEO dismissed comparisons between his start-up and the Class of 2005 (re)insurers.
-
CEO Greg Hendrick said the composition of the new carrier would eventually be more heavily weighted to insurance business.
-
The latest appointments include former Markel property head Peta White and former EY partner Gail McGiffin.
-
Reardon, Dudek and Roberts are all set to be reunited with former colleagues including Jeff Clements.
-
The start-up provides technology to assist carriers with underwriting and claims.
-
The start-up envisages expansion into insurance “in the coming years”, AM Best said.
-
The ratings agency has given the entity a financial strength assessment of A-.
-
Galanski, Consolino, Sills and Co will have to build franchises that can withstand a cycle turn.
-
The new entity has an initial financial strength rating of A- from AM Best with a stable outlook.
-
The insurance industry veteran obtained commitments from a PE firm for a $200mn-$300mn deal.
-
Former Pembroke CEO Mark Wheeler is widely expected to join the business after his restrictions end.
-
The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK.
-
The John Boylan start-up continues its aggressive hiring spree in Ireland, UK and Bermuda.
-
“We see a future where brokers are very important”, said Newfront's CEO.
-
Vantage Insurance has also been assigned an initial long-term issuer credit assessment of a-.
-
James Tees joins the new professional lines-focused insurer as CFO, and David Newman becomes CUO.
-
The reinsurer dubbed "Vantage" also secures Aurora Swithenbank as CFO.
-
The reinsurance start-up could list on the London Stock Exchange in November.
-
The appointments will give the new MGA a footprint in three markets.
-
Griffin Highline will seek to invest in specialist companies across the spectrum of distribution, carriers and insurance services firms.
-
Other investors involved in the fundraise include InsurTech specialist FinTLV and existing investor and (re)insurance capacity provider Munich Re.
-
The funding for the deal was set to come from Cantor Fitzgerald and its billionaire CEO Howard Lutnick.
-
The former Verto CEO is fundraising to begin writing as an MGA in 2021.
-
Who is raising it, how much it will cost, and how best to use it – a round-up of the key points from the second day of (Re)Connect virtual conference.
-
Sources said a final decision on whether to proceed with the venture is still pending.
-
The executive said the company is targeting a trial of usage-based cyber policies for early 2021.
-
The reciprocal exchange is reinsured by the French carrier Scor and follows a $24mn capital raise.
-
The M&A and D&O insurance specialist has joined the company in New York.
-
Other InsurTechs are likely mulling IPO options and are garnering more investor interest, according to a report.
-
HazardHub, Predata, Thimble and Hailios are among the accelerator’s latest cohort.
-
Brokers at Marsh, Aon and Epic have all been using the platform, which has been deployed on around eight renewals so far in 2020.
-
Project is in its early stages, with a round of meetings held to stress test it with PE firms.
Most Recent
-
AM Best downgrades State Farm General Insurance FSR to B
March 28, 2024 -
M&A weekly roundup: Risk Strategies and NFP
March 28, 2024