Reinsurance start-up Kettle raises $4.71mn in seed fundingReinsurance start-up Kettle has raised $4.71mn in a seed funding round led by True Ventures, with participation from Acrew Capital, Homebrew Ventures, Anthemis and Inspired Capital.
Mapfre partners with insurtech Shift on claimsMapfre has partnered with Paris-based start-up Shift Technology to create a claim automation solution.
“Materially more” insurtech M&A to come: Scor’s JonesInsurtech is set for further M&A activity, Scor’s Adrian Jones has predicted, with the turmoil from Covid-19 making incumbents realise they need to do more than dabble in the space.
Hannover Re US extends partnership with insurtech LadderHannover Re US and insurtech Ladder have announced plans to expand their existing partnership in a move aimed at closing the life insurance gap in the US.
Swiss Re’s Mumenthaler reiterates need for cyber backstopThe CEO of Swiss Re has suggested that cyber insurance capacity will reduce in a few years’ time unless governments provide a backstop or capital markets become interested in the risk.
Broking insurtech Newfront reveals $500mn valuationTechnology-driven insurance broker Newfront has announced it has raised over $100mn of funding to date, most recently valuing it at $500mn.
Root looks to raise up to $604mn in IPORoot has provided an IPO pricing range of $22 to $25 a share, the top end of which would give the auto insurtech a valuation of about $6.25bn, while revealing that two funds also will buy $500mn worth of shares in a private placement.
Aon’s Nick Frankland on Lloyd’s trade capital, retro market, start-ups, and 1.1 renewalsIn our latest edition of The Best Policy podcast, we are joined by Nick Frankland, UK CEO of Aon’s Reinsurance Solutions business.
Ex-Aquiline and MMC exec Wijnberg joins Hippo’s boardFormer Aquiline Holdings and Marsh & McLennan Companies (MMC) executive Sandra Wijnberg has joined homeowners insurtech Hippo’s board of directors and will also serve as the company’s audit chair.
Workers comp insurtech Pie surpasses $100mn in premiumWorkers compensation insurtech Pie Insurance has exceeded $100mn in cumulative written premium and annualized run rate premium since its launch in 2017.
Insurtech in the cross hairs as BP Marsh targets growthBP Marsh & Partners is mulling possible investment opportunities in the insurtech space as the financial services investment firm continues to target entrepreneurial start-ups across the insurance market.
Former Argo executive Gleason joins EvolutionIQFormer Argo executive Rooney Gleason has joined insurtech platform EvolutionIQ as its chief insurance officer, The Insurer can reveal.
Insurtech Superscript greenlighted as Lloyd’s brokerBusiness insurtech Superscript has received approval to operate as a Lloyd’s registered broker.
Bold Penguin to buy fellow insurtech RiskGeniusCommercial insurtech Bold Penguin has made its second acquisition of 2020 with a deal to acquire RiskGenius, an insurance document intelligence software company.
Buckle appoints Munich Re’s Rear as chair as ex-USAA CFO Matus joinsRideshare insurtech Buckle has appointed Munich Re Digital Partners CEO Andrew Rear as chairman and former USAA chief financial officer Kristi Matus as CFO and chief operating officer.
Auto insurtech Root files for IPORoot has filed for an initial public offering on the Nasdaq Stock Market under the ticker symbol “ROOT”, a move that follows reports that it was looking to float at a valuation of $5bn to $6bn.
Blank cheque company FG New America Acquisition raises $225mn in IPOFG New America Acquisition Corp – a blank cheque company set up by TD Ameritrade chairman Joseph Moglia and 1347 Property Insurance Holdings CEO Larry Swets to focus on acquiring insurance and financial services companies – has raised $225mn in an initial public offering on the New York Stock Exchange.
Insurwave raises £5mn as transforms to SaaS under new leadershipInsurwave – the marine blockchain platform launched by EY and Guardtime in May 2018 – has raised £5mn ($6.4mn) as it is “re-architected” to a Software as a Service (SaaS) platform under new CEO David Power.
Securitisation insurtech Ledger closes $10mn series A roundLedger Investing, which is aiming to disrupt the financing of the insurance industry, has closed a $10mn funding round led by AllegisNL Capital.
US property debuts on Lloyd’s virtual roomThe Lloyd’s virtual underwriting room has launched with US property as its debut class of business.