Cohen & Co venture eyes ILS and insurtech M&A with $151mn IPOCohen & Co’s blank-cheque start-up Insurance Acquisition Corp (IAC) has completed an IPO on Nasdaq, raising gross proceeds of $151mm as it sets out to identify targets for transactions in the (re)insurance sector.
Chaucer teams with marine insurtech ConcirrusLloyd’s specialty insurer Chaucer has partnered with marine focused insurtech, Concirrus, to use its data analytics platform.
German insurtech Friday secures Eur114mn of fundingDigital motor insurance company Friday has completed a round of funding, with founder The Baloise Group investing Eur75mn ($84mn) and Seven Ventures and German Media Pool investing a combined Eur39mn.
German insurtech Wefox raises $125mnBerlin-based Wefox Group has raised $125mn in what the company says is the largest ever series B round for an insurtech company.
ChainThat to launch blockchain-powered risk and capital exchange in BermudaA blockchain-powered risk and capital exchange for the re/insurance industry is set to be introduced in Bermuda later this year by ChainThat, providing access to capital markets with the use of blockchain.
Cyber insurtech Arceo.ai launches platform with heavyweight supportInsurtech cyber start-up Arceo.ai has officially launched its platform with the backing of a heavyweight advisory board that includes former Aspen executive Mario Vitale and ex-RMS CEO Hemant Shah.
Allianz increases digital investment unit’s fund size to Eur1bnAllianz X has received additional investment from its German insurer parent, increasing its fund size to Eur1bn ($1.13bn) from Eur430mn.
Risk trading insurtech Akinova gets investment from Hiscox & MS&ADElectronic risk trading insurtech Akinova has secured investment from both Hiscox Re and Japanese conglomerate MS&AD via its Silicon Valley based venture capital firm.
Asia poised for substantial insurtech growth: KPMGInsurtech “matured significantly as a sector” last year, with 13 deals worth more than $100mn each, according to a new KPMG report.
Nationwide and MS&AD invest in insurtech platform SocotraInsurtech platform Socotra has raised $5.2mn, bringing its overall funding to $18mn.
Beazley-backed Digital Risks gains Lloyd’s coverholder statusUK-based insurtech start-up Digital Risks has achieved Lloyd’s coverholder status, enabling it to cover more specialist risks and insure UK businesses that trade internationally.
Inshur raises $7mn in Munich Re-led Series A fundingCommercial auto insurtech venture Inshur has closed a Series A investment round, securing $7mn in equity funding and a further $2mn credit facility.
Renters InsurTech Jetty in $25mn fundraiseRenters insurance-focused InsurTech Jetty has raised $25mn in a Series B funding round led by Keith Rhabois of Khosla Ventures, who will join the firm’s board of directors.
Former Axa exec Touffut launches InsurTech MGAFormer Axa Global Parametrics CEO Tanguy Touffut has launched a new MGA called Descartes Underwriting with funding from BlackFin Tech.
Root Insurance top line speeds past $100mnMobile tech-driven auto insurer Root saw direct written premiums speed past $100mn last year as it expanded its offering from 10 to 22 states.
Lockton-backed Mylo gets $28mn Guggenheim-led investmentLockton-launched and majority-owned digital insurance agency Mylo has secured an additional outside investment of $28mn in a Series A funding round led by Guggenheim Partners.
Axa XL partners up on AI for property risk engineeringAxa XL Risk Consulting is using Artificial Intelligence to enhance its property risk engineering capabilities.
Lloyd’s in search of next cohort of InsurTech start-upsLloyd’s Lab - the innovator accelerator launched by the Lloyd’s market last September – has launched a global search for the next cohort of InsurTech innovators.
Duperreault encourages more Bermuda InsurTechsStart-ups must continue to present new innovative ideas to shake-up the (re)insurance industry in Bermuda, AIG’s chief executive Brian Duperreault has said.
Lloyd’s COO Khoury-Haq to leave in 2019Lloyd’s chief operating officer Shirine Khoury-Haq is to leave the Corporation in the first half of 2019 after nearly 5 years in Lime Street.