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IHC, BlackRock, Lunate partner for $1bn+ Abu Dhabi AI-native reinsurance launch
9th May 2025
The International Holding Company (IHC) is launching a new Abu Dhabi based reinsurer with $1 billion plus of equity capital and partnerships with asset managers BlackRock and Lunate, while Mark Wilson the former CEO of Aviva and AIA Group has been lined up to lead the reinsurance start-up as CEO. IHC ... Read the full article
Bermuda reinsurance start-up Mereo launches with initial capital of over $700m
10th February 2025
Bermuda-based, integrated reinsurance platform Mereo has launched with initial capital of more than $700 million, after receiving full regulatory authority from the Bermuda Monetary Authority (BMA) and an A- rating from AM Best, Reinsurance News understands. It was revealed around the 2024 annual meeting of the reinsurance industry in Monte Carlo ... Read the full article
Mereo Insurance expected to be operational for Jan 1 reinsurance renewals
9th September 2024
Bermuda-based re/insurance start-up, Mereo Insurance, sees the current market opportunity as very attractive and is expected to be operational for the January 1st, 2025, reinsurance renewals. As reported by our insurance-linked securities (ILS) focused sister publication, Artemis, the formation of Mereo Insurance has been in the works for some time. Industry veteran ... Read the full article
“Exceptional results” validate the Israeli InsurTech Accelerator program effectiveness: CEO Bendelak
30th October 2023
The Israeli InsurTech Accelerator program has reported “remarkable results” driving innovation and growth within the country’s start-up industry, InsurTech Israel has stated. Since its inception over two years ago, the program has contributed significantly to the evolving landscape of InsurTech in Israel. The country’s capital, Tel Aviv, has become a vibrant ... Read the full article
Fintech startup Inclined raises $15m in Series A funding round
27th September 2022
Fintech startup Inclined has announced it has raised $15m in a Series A funding round. HSCM Ventures led the round, with participation from Anthemis Group alongside several new and existing investors. The company states that the funding will fuel its mission to democratise a $150bn market by helping consumers significantly enhance ... Read the full article
MLTPLY launches insurtech startup Proxima
23rd September 2022
MLTPLY has announced the launch of Proxima, an insurtech startup that offers insurance companies software to develop and support its staff and expand IT, customer service, sales, underwriting and claims capabilities. Proxima currently operates in Latin America and the US, providing staff augmentation resources in underwriting and technology verticals. The company ... Read the full article
Insurtech investments fall by 80% in 2021: GlobalData
19th August 2022
According to GlobalData, insurtech investments fell by 79.6% in 2021, leading to job losses and tough economic conditions in 2022. GlobalData’s Deals Database reveals that the value of global investments in insurtech fell by 79.6% in 2021. This follows a consistent flow of stories of insurtechs struggling in 2022. Recently, Lemonade cut ... Read the full article
Insurtech startup Ledgebrook raises $4.2m in seed funding
18th August 2022
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022. The company plans to start by launching a broad-appetite E&S GL product to establish its value prop to wholesale brokers ahead ... Read the full article
Insurtech startups shift focus to profitability: S&P
17th August 2022
A recent S&P Global Market Technology report suggests insurtech startups have shifted from a "growth at all costs" mentality to one more focused on profitability. Full-stack companies, or those that have licensed carrier subsidiaries, will require profitable underwriting and investing to achieve this goal, though the report says this may prove ... Read the full article
Duck Creek partners with motor startup Adiona
4th January 2022
Duck Creek Technologies has partnered with newly launched UK insurtech motor insurer, Adiona. The partnership was created to offer insurance policies with premiums built on data and telematics, artificial intelligence and machine learning that provide pricing based on the driving habits of each insured customer. Having launched in September, Adiona is a ... Read the full article
AM Best report underlines ideal conditions for insurance start-ups
8th March 2021
A new report from Am Best has underlined the current favourable conditions to be entering the market as a start up, however there remain significant hurdles for new companies looking to establish themselves quickly. Hurdles include the need to secure capital, regulatory approvals, licences and underwriting teams. Am Best note how start-up ... Read the full article
Vermont’s Sustainable Assurance receives licensing from DFR
15th February 2021
The Department of Financial Regulation (DFR) announced it had licensed Sustainable Assurance Company as a pure Captive Insurance Company last month. The new insurer was formed by the Lancaster County Solid Waste Management Authority (LCSWMA), bringing the amount of licensed captive insurance companies in Vermont to 1200. Governor Phil Scott said: “As ... Read the full article
Mitch Blaser launches next-gen specialty insurer Mosaic
4th February 2021
Mitch Blaser, founding executive of Bermuda-based Ironshore, has established Mosaic, a next-generation global specialty insurance company with operations in Bermuda, London, the U.S., and Asia. Mosaic combines newly-formed Lloyd's of London Syndicate 1609 with sophisticated underwriting talent. The new specialty insurer is backed by private equity investment firm, Golden Gate Capital, who ... Read the full article
OTT Risk aims to provide deep business interruption reinsurance capacity
29th January 2021
A new startup called OTT Risk is looking to provide business interruption (BI) reinsurance capacity, via the use of advanced technology and with the support of insurance-linked securities (ILS) structures, in an effort to address coverage gaps that exist around the world. The COVID-19 pandemic and subsequent lockdowns highlighted the significant ... Read the full article
Lloyd’s broker London Re launches in EU
12th January 2021
Reinsurance broker London Re, a new European Lloyd's broker, has been launched as a joint venture between Seventeen Group and MRH Trowe, an independent German broker. London Re will be based in Dusseldorf, Germany, with a branch office based in London. The start-up offers an independent broking solution for EU clients and ... Read the full article
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