Reinsurance News
funding
bolttech’s expansion continues with Series C funding led by Dragon Fund
20th December 2024
Global insurtech bolttech has revealed a new $100 million Series C funding round, led by Dragon Fund, alongside Baillie Gifford and Generali. According to bolttech, the strategic support of these investors will empower the company to enhance its platform's capabilities, expand its global market presence, and accelerate its mission to make ... Read the full article
MetLife enters into £450m longevity swap with Merchant Navy Ratings Pension Fund
3rd December 2024
The Trustee of the £1 billion Merchant Navy Ratings Pension Fund (MNRPF) has entered into a transaction with Metropolitan Life Insurance Company (MetLife) to manage longevity risk of around £450 million of pensioner and dependant liabilities. This transaction provides long-term protection to MNRPF against costs resulting from pensioners or their dependants ... Read the full article
Fortegra secures $150m funding for growth
8th November 2024
The Fortegra Group, a global specialty insurer and a subsidiary of Tiptree Inc., has completed $150 million of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064 (the Notes). With this investment, Fortegra aims to deepen partner relationships through tailored insurance solutions, enhance risk management capabilities to protect partners' and policyholders' ... Read the full article
Global insurtech funding reaches $3.2bn in Q3, expected to reach $4.2bn by the end of 2024
5th November 2024
The third quarter of 2024 closed with an investment in insurance technology (Insurtech) of $3.2 billion, 7% less than in 2023, however, this trend appears to be a positive and suggests a rebound in funding in the fourth quarter, according to a new report by Dealroom.co, Mundi Ventures, and MAPFRE. Venture ... Read the full article
B.P. Marsh & Partners fund SRT with up to £2.5m, subscribe to 25.5% share
31st October 2024
B.P. Marsh & Partners, a specialist private equity investor, has acquired a 30% cumulative preferred ordinary shareholding in SRT & Partners Limited, a start-up UK Retail and London Market broker. B.P. Marsh has provided £2.5 million in funding through a combination of equity and loan, which has been fully drawn down ... Read the full article
Aurora secures seed funding from QBE Ventures
23rd October 2024
Aurora, a digital commercial insurance platform, has secured seed funding from QBE Ventures, the investment subsidiary of the global insurer QBE Insurance Group. The funds will be used to enhance Aurora’s lead algorithmic trading proposition, expand its product offering, and enable the company to pursue new commercial distribution partnerships. QBE Ventures is ... Read the full article
BlackFin Capital Partners successfully closes Fund IV at €1.8bn
18th October 2024
BlackFin Capital Partners, a specialist in Europe’s financial services sector, is excited to announce the successful closing of the BlackFin Financial Services Fund IV at a total of €1.8 billion. This new fund exceeds its initial target of €1.5 billion, driven by strong interest from institutional investors, with 45% from Europe, ... Read the full article
DeNexus raises $17.5m in Series A funding, with backing from AXA XL
16th October 2024
DeNexus, a provider of cyber risk modelling solutions, has raised $17.5 million in a Series A funding round led by Punja Global Ventures with participation from AXA XL, Prosegur/SegTech and HCS Capital. From what Reinsurance News understands, DeNexus will use the funding to boost its growth and expand its product offerings ... Read the full article
Akur8 raises $120m to fuel its next-gen actuarial platform growth
16th September 2024
Akur8, a machine learning-powered insurance pricing and reserving platform, has secured $120 million in series C funding which will significantly bolster the company’s capacity to broaden its product portfolio and drive its expansion within global markets. With this latest funding round, Akur8 brings its total raised investment to $180 million. Launched in ... Read the full article
Inigo to fund research programme exploring how climate change impacts the risk of hurricanes
11th September 2024
Specialist insurer Inigo Limited has announced that it will be funding a three-year research programme at the University of Cambridge, which will apply the latest advances in both computing and AI in order to deepen understanding of how climate change has impacted the risk of hurricanes. According to the announcement, InSPIRe ... Read the full article
Accession Risk Management Group secures $1bn to fuel growth and expansion
22nd August 2024
Accession Risk Management Group, the parent company of Risk Strategies and One80 Intermediaries, has secured $1 billion in financing to boost its growth and support continued expansion. The financing includes a $900 million delayed draw term loan, which increases the company's existing unitranche loan, and a $100 million increase to its ... Read the full article
Insurtech funding shifts to $1.27bn in Q2, highest level since Q1’23: Gallagher Re
1st August 2024
The global Insurtech sector witnessed a significant rise in funding throughout the second quarter of 2024, amounting to US $1.27 billion, marking the highest levels of funding seen since the first quarter of 2023, according to latest findings unveiled by reinsurer Gallagher Re. Q2 2024 saw AI-centred Insurtechs obtain a grand ... Read the full article
Gradient AI raises $56.1m in Series C funding
30th July 2024
Gradient AI, the provider of proven artificial intelligence (AI) solutions for the insurance sector, has raised $56.1 million in Series C funding, in a round led by Centana Growth Partners, with participation from existing investors MassMutual Ventures, Sandbox Insurtech Ventures and Forte Ventures. Gradient AI will reportedly use the funds for ... Read the full article
First Street raises $46m to support advancements in physical climate risk modeling
25th July 2024
First Street, a provider of physical climate risk data, has finalised an oversubscribed Series A-1 funding round, bringing a total amount of $46 million raised. According to the announcement, this round was led by Innovation Endeavors, with other investors SE Ventures backed by global energy management and automation firm Schneider Electric ... Read the full article
wefox gets €25m capital injection from investors to support restructuring efforts
2nd July 2024
Insurtech wefox Holding AG, at its General Meeting, saw investors reaffirm their support for the company by providing an immediate fresh capital injection of €25 million. This capital will support the ongoing restructuring efforts for which the company has already taken substantial steps, with further capital being realized through the continued ... Read the full article
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