Reinsurance News
investment
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
Mosaic secures growth investment from Atalaya & Culpeper Capital
2nd August 2023
Specialty insurer, Mosaic Insurance has secured strategic investment from two US growth-capital providers to drive the company's talent acquisition and product development. According to the announcement, alternative asset manager Atalaya Capital Management and financial services-focused private-equity firm Culpeper Capital Partners LLC will take a minority stake in Mosaic, which is backed ... Read the full article
Percayso Inform completes £2.7m fundraise led by industry veteran Neil Utley
27th July 2023
Percayso Inform, an insurance data intelligence provider, has announced a second major investment in its fast-growing business with a £2.7 million fundraise led by industry veteran Neil Utley, and its existing venture capital investor, Praetura Ventures. Since launching in the UK insurance market three years ago, an increasing ... Read the full article
Solvency II reforms have the potential to unlock investment in the UK: PwC
25th July 2023
The Government's proposed Solvency II reforms have the potential to unlock investment by the insurance industry into the UK economy, according to analysts at PwC UK. PwC suggests that the refresh of the Solvency II rules will make certain assets "more attractive" to insurers. This includes infrastructure assets in their construction ... Read the full article
Carbon Underwriting receives strategic investment from Apiary Capital
17th July 2023
Carbon Underwriting Limited, a specialist, independent managing general underwriter (MGU), has announced a significant strategic investment from UK private equity firm Apiary Capital (Apiary). The investment is expected to bolster Carbon's growth momentum as it continues to be recognised as the Lloyd's benchmark of excellence for Delegated Underwriting Authority business, with ... Read the full article
Arch takes minority investment in MGA Helix
12th July 2023
Bermuda-based agency, Helix Underwriting Partners Ltd. has entered into an equity investment agreement under which global insurer Arch Capital Holdings Ltd. has become a minority shareholder. According to the announcement, this transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd., a global specialty property and casualty re/insurance ... Read the full article
Global Atlantic raises over $2.4bn for second co-investment vehicle
10th July 2023
Life and annuity re/insurance firm Global Atlantic Financial Group has closed a more than $2.4bn third-party capital raise for its second reinsurance co-investment vehicle, Ivy Co-Invest Vehicle II LLC (Ivy II). Ivy II is a reinsurance co-investment vehicle through which Global Atlantic brings third-party capital into its business to augment its ... Read the full article
Flow Capital invests in Wrisk to accelerate international growth
28th June 2023
Flow Capital, a provider of flexible growth capital and alternative debt solutions, has closed an investment in B2B2C insurtech Wrisk Limited. Wrisk is a digital-first insurance business that works with automotive brands to "shape the future of their customers' mobility and insurance experiences." The insurtech offers an embedded white-labelled insurance platform to ... Read the full article
Incline P&C Group secures $125 million investment from Braemont Capital to drive expansion
8th June 2023
Incline P&C Group, the leading insurance program market services firm, has secured a significant investment of $125 million from Braemont Capital. Braemont, known for partnering with exceptional companies during their growth inflection points, aims to support Incline in expanding its platform and remaining at the forefront of innovation in the insurance ... Read the full article
UK remains Europe’s most attractive spot for financial services investment: EY
5th June 2023
The UK continues to be Europe’s most attractive location for foreign direct investment (FDI) into financial services, according to EY’s latest Attractiveness Survey for Financial Services. According to EY's survey, The UK attracted 76 financial services projects in 2022, an increase of 13 projects from 2021, and has extended its lead ... Read the full article
Bregal Sagemount & FTV Capital invest in Neptune Flood Incorporated
16th May 2023
Bregal Sagemount and FTV Capital, two leading growth-focused private equity firms, have announced a strategic growth investment in Neptune Flood Incorporated. Both Sagemount and FTV will acquire a substantial minority stake in the firm, with Neptune CEO and management maintaining majority ownership. Financial terms of the transaction were not disclosed. Launched in ... Read the full article
Hub Intl. receives investment from PE firm, Leonard Green & Partners
3rd May 2023
Global insurance brokerage Hub International Limited (HUB), has entered into an agreement with Los Angeles-based private equity firm, Leonard Green & Partners, L.P. (LGP) for an expected “substantial” minority investment with HUB’s enterprise valuation of $23 billion. HUB said that the valuation marks the largest enterprise value to date for a ... Read the full article
Global growth drivers outweigh elevated geopolitical and economic risks: Marsh
31st March 2023
Global growth opportunities outweigh the current elevated geopolitical and economic risk landscape, according to a recent report published by insurance broker and risk advisor, Marsh. The 2023 Political Risk Report, published by Marsh Specialty, outlines the major shifts and trends in the global political and economic landscape that will impact multinationals ... Read the full article
Xceedance makes investment in India-based Vitraya Technologies
3rd March 2023
Re/insurance service provider Xceedance, together with a consortium of investors, has invested a total of $4.1 million in Vitraya Technologies, an India-based technology platform that enables automated claims decision-making for insurers and real-time payouts to providers. Arun Balakrishnan, CEO at Xceedance, commented, “The work Vitraya Technologies is doing to enable claims ... Read the full article
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