Cayman Islands-based specialist property and casualty reinsurer Greenlight Capital Re has announced plans to invest in AccuRisk Solutions, a managing general underwriter (MGU) focused on employee and health insurance benefits.
It’s believed this investment will facilitate AccusRisk’s planned expansion via a series of strategic acquisitions in North America.
Having first invested in AccuRisk back in 2017, this latest move will see Greenlight Re become the firm’s largest shareholder.
“We are delighted to partner with a technology-driven and fast-growing MGU which is focused in a market where we see real growth opportunities. AccuRisk has a strong pipeline of acquisition targets, and we look forward to supporting them in their strategic growth plans,” said Greenlight Re Chief Executive Officer Simon Burton.
AccuRisk President and CEO Daniel Boisvert added, “Greenlight Re has been a valued strategic and reinsurance partner since our inception and we are pleased to have them increase their equity position in the company and provide our next tranche of growth capital.”
“There are numerous opportunities in the healthcare space for acquisitions and to implement innovative technologies and this capital infusion will allow us to execute with respect to both.”