Capital raising

Sedgwick closes $1bn investment from Altas at $13.2bn enterprise value

Sedgwick has closed a $1bn private equity investment from Altas Partners, which the claims management provider said brings its total enterprise value to $13.2bn.

Insurtech 9M VC funding down 7% YoY to $3.2bn: Mapfre

Although the $3.2bn in insurtech venture capital (VC) funding raised in the first three quarters of 2024 is down 7 percent on the prior-year period, positive trends suggest that there will be a pick up in activity during the fourth quarter, according to Mapfre.

Hilb secures $2bn debt refinancing to support M&A

Carlyle-backed US broker The Hilb Group has secured a ~$2bn round of financing to refinance its existing debt and upsize its revolving credit and delayed draw term facilities.

Delos confirms $9mn Series A led by HSBC Asset Management

Wildfire MGA Delos Insurance Solutions has confirmed the closure of its $9mn Series A funding round led by HSBC Asset Management, which took place earlier this month.

Joyn working on fundraise for Jan reboot after SiriusPoint capacity relationship ends

SME-focused E&S insurtech Joyn is working on securing additional funding for a January re-launch, after pausing writing business following the discontinuation of its capacity relationship with SiriusPoint in September, The Insurer can reveal.

Tidal Cyber gets USAA and Capital One Ventures investments

Tidal Cyber has secured investments from USAA and Capital One Ventures which the security company said will be used to fund enhancements to its Enterprise Edition platform along with fuelling the adoption of threat-informed defence.

Digital MGA Aurora secures seed funding from QBE Ventures

London-based digital MGA Aurora has secured seed funding from QBE Ventures, the investment arm of QBE Insurance Group.

Branch raises $51mn Series D led by American Family Ventures, HSCM Ventures

Branch has raised $51mn in a Series D funding round led by existing investors American Family Ventures and HSCM Ventures, as the personal lines insurtech targets profitability in 2025 and expansion into life insurance, The Insurer can reveal.

Claims insurtech Agentech raises $3mn in seed funding round

Agentech, an AI-driven solution for insurance claims, has completed a $3mn seed round in 30 days.

DeNexus closes $17.5mn Series A funding round, adds Axa XL CUO as board observer

Cyber risk quantification and modelling firm DeNexus has secured $17.5mn in a Series A funding round that included participation from Axa XL.

Agencies-focused insurtech Covu raises $12.5mn in Series A funding

Covu, which provides AI-native services for insurance agencies, has completed $12.5mn in equity and debt financing as part of the first tranche of its Series A funding round.

Workers’ comp insurtech Stream raises $5.3mn in Spark Capital-led seed round

San Francisco-based insurtech company Stream has raised a $5.3mn seed round led by Spark Capital, with participation from Acrew Capital and TTV Capital.

Starwind raises $270mn to launch Fractal Re sidecar for programs quota share

Starwind Specialty Insurance Services has raised $270mn from investors including Nationwide, Enstar and others for a Bermuda sidecar-style reinsurer called Fractal Re that will write a 15-20 percent quota share across 35+ programs on its underwriting platform, Program Manager can reveal.

New research group seeks funding to study mounting convective storm risk

A proposed research initiative focused on severe convective storms and involving two leading US universities is aiming to secure industry backing to help fund studies into a peril that is a growing source of industry pain and which cost US (re)insurers $37bn through 2024’s first half.

Actuarial insurtech Akur8 confirms $120mn Series C fundraise

French actuarial services insurtech Akur8 has secured $120mn in a One Peak-led Series C funding, bringing its total raised investment to $180mn.

Actuarial insurtech Akur8 completes latest raise at ~$400mn valuation, acquires Arius from Milliman

French actuarial services insurtech Akur8 has completed its latest funding round at a valuation understood to be somewhere around $350mn and $400mn, as it also sealed a deal to acquire Milliman’s reserving subsidiary Arius, The Insurer can reveal.

Auto insurtech Sigo Seguros secures $10.5mn Series A

Sigo Seguros, an Austin, Texas-based auto insurtech serving the Spanish-speaking community, has raised $10.5mn in a Series A financing round led by Varco Capital, the family office of Pronto Insurance founders Rafael and Carlos Varela, and returning investor Listen.

Accession closes $1bn financing with Golub Capital to accelerate growth

Risk Strategies and One80 Intermediaries parent Accession Risk Management Group has closed a $1bn financing that it says will further accelerate its “remarkable” growth trajectory both organically and through M&A, The Insurer can reveal.

Travel insurance start-up Faye raises $31mn in Series B round

Travel start-up Faye has raised $31mn in a Series B funding round led by Portage and supported by Lumir Ventures, F2 Venture Capital, Viola Ventures, and Munich Re Ventures that will be used to fuel the platform’s ambitious growth plans.

Kudale: Zurich investment is “endorsement” of Cowbell’s “vision and capabilities”

Cowbell CEO Jack Kudale said on Friday that the $60mn Series C investment his company received from Zurich is a “milestone” that marks “a new chapter” for the insurtech and that its latest funding round “is an endorsement of Cowbell’s vision and capabilities”.

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