Reinsurance News
funding
Delos Insurance Solutions secures $7.3 million in seed extension round
14th September 2023
In a significant move to address the pressing issue of homeowners' insurance availability in wildfire-prone areas, Delos Insurance Solutions has announced a successful $7.3 million seed extension funding round. The financing, led by IA Capital Group and joined by notable investors such as Blue Bear Capital, Gallatin Point Capital, Avanta Ventures, ... Read the full article
Kin secures $33m in Series D extension funding
14th September 2023
Kin, the direct-to-consumer home insurance company, has announced the closing of a $33 million Series D extension. QED Investors led this funding along with returning investors like Geodesic Capital, Allegis Capital, Hudson Structured Capital Management Ltd. (doing its reinsurance business as HSCM Bermuda), and Alpha Edison. Kin has now raised approximately $265 ... Read the full article
inari raises $5.2m in seed funding round
11th September 2023
Core technology infrastructure provider for the global re/insurance industry, inari, has raised $5.2 million in funding as part of its seed round led by Caixa Capital Risc, through Criteria Venture Tech, alongside CDTI. Founded in 2017, Barcelona-based inari will use the funds raised from this round of financing to establish itself ... Read the full article
AI-insurtech DGTAL secures funding of €3 million
8th September 2023
DGTAL, a Software-as-a-Service (SaaS) platform providing artificial intelligence (AI) powered audit and tools for insurance portfolios, has secured strategic funding of €3m to facilitate the scaling of its pathbreaking technology. 1750 Ventures, the venture capital arm of German VGH Versicherungen, has entered the deal as anchor investor along with Gossmann & ... Read the full article
Renewable energy specialist Renew Risk raises £1.7m in funding
7th September 2023
Renew Risk, a London-based clean-energy risk analytics Software-as-a-Service (SaaS) startup, has raised £1.7 million in seed funding to improve the financing, planning and insurance for renewable energy assets. The funding round was led by strategic investor Insurtech Gateway with participation from ClimateTech fund One Planet Capital, the University of Surrey, and ... Read the full article
Aurora secures £2.5m funding to accelerate its Algorithmic Trading proposition
6th September 2023
Aurora, a digital commercial insurance platform for micro, small and mediums-sized businesses, has announced that it has secured an additional £2.5 million in funding to accelerate its Algorithmic Trading proposition. The funding total is made up of seven-digit support from Innovate UK, the UK’s national innovation agency, and an equity raise. According to ... Read the full article
Canada Life Re enters into €100m funding arrangement with Spry Finance
25th August 2023
Canada Life Re, a provider of reinsurance solutions for life and health, has agreed a long-term funding arrangement with Spry Finance, which is set to re-finance the the Irish-owned company's existing loan book and provide funding of up to €100 million for future lending. Spry Finance, the retail arm of Seniors ... Read the full article
Resilience raises $100m in Series D funding round
10th August 2023
Resilience has announced a $100 million equity financing round to accelerate its global expansion. The company also plans to scale the adoption of its holistic cyber risk platform, the Resilience Solution launched earlier this year. The Series D round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, ... Read the full article
Functional Finance secures $8 million in seed capital
4th August 2023
Functional Finance, a software platform that integrates and automates data and reporting functions for insurance companies, has secured $8 million in seed capital, plus $2 million in SAFE notes for future equity investments, which will go towards "product development and client relationships." The fundraising round was led by venture capital and ... Read the full article
PCF Insurance secures $400m in incremental financing
2nd August 2023
PCF Insurance Services has closed $400 million in incremental debt financing led by Blue Owl, a global alternative asset manager that acted as lead arranger and admin agent. According to PCF, the financing was upsized from $300 million to $400 million in response to strong lender demand from new and existing ... Read the full article
MGA Converge raises $15m in Series A funding from Forgepoint Capital
1st August 2023
Converge Insurance, pioneers in advanced cyber risk management and underwriting have raised $15 million in Series A funding from Forgepoint Capital. At the same time, Forgepoint Managing Directors Don Dixon and Andrew McClure have joined the company's Board of Directors as part of the financing. As part of the financing round, which ... Read the full article
Bain Capital Insurance successfully closes inaugural private equity fund at $1.15 billion
19th July 2023
Bain Capital Insurance, the insurance investing business of Bain Capital, has announced the successful final close of its first-ever private equity fund, the Bain Capital Insurance Fund, L.P., surpassing its initial target by raising $1.15 billion. The fund attracted approximately $1 billion in commitments from institutional investors and high-net-worth individuals ... Read the full article
OneDegree Group to strengthen its expansion into digital assets insurance
3rd July 2023
OneDegree Group has closed a $55 million Series B round, that is set to strengthen its expansion into digital assets insurance and generative AI-enabled insurtech solutions. The funding will also be used to broaden the company’s product offering, and further expand the market of its direct-to-consumer insurance products. Thomas G. Tsao, Co-founder ... Read the full article
Underwriting platform Federato raises $25m in Series B funding
29th June 2023
Federato, the insurance industry's first RiskOps underwriting platform has announced that it has raised $25 million in Series B funding, led by Caffeinated Capital, with participation from Emergence Capital and Pear VC. This round comes less than a year after the company announced its $15 million Series A funding, that ... Read the full article
Insurtech Raincoat raises additional $6.5m in seed funding
27th June 2023
Raincoat, a startup developing scalable climate insurance solutions, has announced the closing of an additional $6.5 million seed round. This follows the $4.5 million Raincoat raised last year, bringing its total raised to date to $11 million. According to the announcement, the latest round of capital will support the company's expansion ... Read the full article
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