Start-up

Embroker: Cyber insurance adoption among start-ups hits 93%

Nearly 93 percent of start-ups now carry cyber insurance, with many opting for simplified coverage solutions, according to insurtech MGA Embroker’s third annual Cyber Risk Index that focuses on start-ups.

Ex-Alesco duo launch professional liability Lloyd’s underwriting manager

Former Alesco duo David Doe and Paul Emuss have unveiled Doe & Emuss, a new boutique underwriting manager specialising in professional liability.

Oak Re continues build-out with Lockton Re, Gallagher Re, Inigo and Nephila hires

Lloyd’s 1.1 start-up Oak Re is continuing to build out its underwriting team with a number of hires from both carriers and brokers, The Insurer can reveal.

ILS veteran Darren Redhead close to launching $300mn+ start-up

Former Howden and Lancashire ILS executive Darren Redhead is returning to frontline underwriting with the launch of a new Bermuda-based ILS manager that is expected to go live at 1.1.

Oak Re secures £200mn launch capacity as team build-out continues

Lloyd’s 1.1 reinsurance start-up Oak Re Syndicate 2843 expects to write in the region of $300mn GWP in its first year as the business continues to build out its executive and underwriting teams, The Insurer can reveal.

Solasta Innovation withdraws from planned 1.1 Lloyd’s launch

Proposed Lloyd’s investment fund Solasta Innovation has ceased fundraising and will not be going live at 1.1, The Insurer can reveal.

BP Marsh confirms launch of London energy MGA Volt

Insurance-focused venture capitalist BP Marsh has confirmed its investment in Volt Underwriting, a new London-based energy-focused MGA launched by former Travelers senior executives Chris Allison and Andrew Tokley.

Ambac confirms backing of Miller-led MGA Pivix

Ambac Financial Group has confirmed that it has partnered with surplus lines veteran Mike Miller and his team on the launch of excess and surplus lines MGA Pivix Specialty Insurance Services.

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.

MC roundtable: Reinsurance volatility limiting investor interest as other industry segments draw funding

Investor appetite for the insurance industry remains strong, but volatility in the reinsurance space means there has been limited appetite to support start-ups in that sector, especially when there are potentially greater returns to be found in the wider market.

Beat launches professional liability-focused proRISE led by former Hiscox exec Karpp

Ambac-owned MGA incubator Beat Capital Partners has unveiled proRISE Insurance Services, led by former Hiscox and AIG executive Doug Karpp.

E&S veteran Miller launches Ambac-backed MGA Pivix Specialty

Surplus lines veteran Mike Miller has brought a new E&S-focused MGA to market called Pivix Specialty Insurance Services, which this publication understands is backed by Ambac as the start-up’s primary investor.

Pine Walk tees up specialty reinsurance cell Silverflame Re

Pine Walk, the Fidelis Partnership’s MGA incubation platform, is set to launch a new specialty reinsurance cell called Silverflame on 1 October, The Insurer can reveal.

Legacy start-up Sophrosyne Partners to target corporate long-tail liabilities

Opportunities to tap into the growing demand from European corporates for solutions to their US liability exposures spurred the formation of new legacy specialist Sophrosyne Partners, Eleni Iacovides has told The Insurer.

Oak Re, Mereo and Alpine Re among start-ups aiming for 2025 launch

Having received in-principle approval from Lloyd’s to launch at 1.1, Oak Reinsurance has joined Mereo and Alpine Re in the aspiration to begin underwriting in 2025 amid renewed investor interest in balance sheet vehicles.

Arcadian eyes balance sheet platform to support growth after passing $1bn GWP mark

Arcadian Risk Capital is weighing options to launch a balance sheet platform, including a potential rated Lloyd’s or Bermuda vehicle, and is engaging (re)insurers to add to its existing capacity panel as it looks to onboard new underwriting teams, The Insurer can reveal.

Stonybrook mulls launch of new Lloyd’s investment fund

New York investment boutique Stonybrook Capital is in discussions with potential investors for a new Lloyd’s-focused fund that would look to capitalise on the market’s renewed earnings potential, The Insurer can reveal.

Willis Re reboots in Bain Capital JV that shields WTW earnings from attritional build-out costs

WTW looks set to end its three-year hiatus from reinsurance broking as it partners with private equity firm Bain Capital to launch a new venture, returning to a space it exited with the $3.25bn+ sale of Willis Re to Gallagher, The Insurer revealed on the eve of Monte Carlo.

New Lloyd’s investor Solasta surpasses $125mn in 1.1 funding: sources

Executives behind the latest spread capital Lloyd’s investment proposal are attending the Monte Carlo Rendez-Vous next week with $125mn+ provisionally committed from potential investors, this publication understands.

WTW close to reinsurance return with PE backing

WTW has been linked with a partnership with private equity firm Bain Capital to launch a new reinsurance venture which would fulfil the global intermediary’s stated ambition to get back into a space it left with its $3.25bn+ sale of Willis Re to Gallagher, The Insurer can reveal.

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