Bermuda domiciled financial services holding company White Mountains Insurance Group has acquired a minority equity stake in property and casualty insurance provider Noblr.
A new company, Noblr provides consumers with real-time insurance rates and real-time feedback on driving behavior by leveraging telematics and Noblr’s own proprietary technology.
Gary Tolman, Noblr’s co-founder, commented, “The Noblr team and I are very excited to bring this new company to life, offering consumers more control over what they pay for car insurance, and also, perhaps more significantly, more control over their relationship with their insurer.”
“We are pleased to have White Mountains’ support, providing us with the additional know-how and financial support to scale quickly and intelligently.”
Tolman resigned from his position on the White Mountains Board of Directors, a role he had held since 2015, prior to this investment in Noblr.
Manning Rountree, Chief Executive Officer of White Mountains, said, “We will miss Gary’s experienced voice on the White Mountains board, but we are excited to partner with him again in the Noblr endeavor.”
“The Board thanks Gary for his many contributions to White Mountains over the years.”