Reinsurance News
funding
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
Reask raises $6.55m total in investment funding
15th June 2023
Climate analytics and technology driven risk modelling firm Reask, has raised a total of $6.55m in investment funding, with its most recent seed round reaching $4.6m. With its latest funding, Reask will add more hazard coverage and grow its team internationally to better service customers, the company stated. The latest seed round ... Read the full article
BrokerTech Ventures launches $34 million BrokerTech Fund
4th May 2023
BrokerTech Ventures (BTV) has partnered with ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. ManchesterStory, the Fund's General Partner, is an early-stage venture capital firm that manages more than $225 million in committed capital across multiple funds focused ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... Read the full article
Insurtech Ledgebrook raises $4.6m in funding
26th April 2023
Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding. The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build ... Read the full article
Munich Re Ventures invests in digital marketplace Capitola
17th April 2023
Capitola, a digital marketplace for commercial insurance, has raised $15.6 million in its Series A funding round led by Munich Re Ventures, along with Lightspeed Venture Partners. Capitola states that the funding will be used to grow its platform and accelerate sales in the U.S. This round adds to a $5M Series ... Read the full article
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