Start-up

Risk exchange start-up CatX raises $2.7mn in seed funding

Alternative capital risk exchange start-up CatX has successfully raised $2.7mn in seed funding from backers including Silicon Valley venture capital firms and angel investors from proprietary trading firms and hedge funds.

Florida reciprocal start-up Orange secures BBB KBRA rating

KBRA has assigned a BBB insurance financial strength rating to Orange Insurance Exchange, the new Don Matz-led reciprocal insurer that formally launched operations in Florida earlier this month.

Will any syndicates be caught short by the £1bn LIU reverse?

Dickens’ famous opening – “It was the best of times, it was the worst of times” – sprang to mind yesterday with the news that London Innovation Underwriters has given up on its plans to launch an ambitious new listed Lloyd’s investment fund.

Transactional risk advisory firm Birch Risk Advisors launches with AmTrust backing

Ex-Goldman Sachs executives Steve Bunson and Barry Sklar have partnered with insurance veterans Sheldon Elefant and David Danesh to launch Birch Risk Advisors, which is backed by AmTrust Financial.

No sign of new capital wave to alter 1.1 renewal trajectory

Despite traction in fundraising at a number of ILS funds and progress for at least one mooted reinsurance start-up, there is no expectation in the market of a meaningful influx of capital at a level that will alter the supply-demand equation at the upcoming 1 January renewals.

BRP launching Irvan-led reinsurance broker Juniper Re in latest challenger entry

Baldwin Risk Partners is launching a new reinsurance intermediary called Juniper Re, led by former BMS Re chief property officer Jeff Irvan, with the business planning to rapidly expand through opportunistic hires based on cultural fit, The Insurer can reveal.

Former NFP execs Flippen and Kiemnec set to launch FI brokerage Lion Specialty

Seasoned financial institutions broking executives Mark “Flip” Flippen and Natasha Kiemnec are working on a specialty retail brokerage called Lion Specialty, with the start-up targeting a 1 November launch initially focused on insurance company clients, The Insurer can reveal.

WTW’s Chang: Verita aiming to be a “holistic solution” for clients

WTW’s Michael Chang has said the firm’s new MGU platform Verita will be entirely driven by underwriting discipline, adding that there has never been a better time to get into the market as buyers are demanding more options amid prolonged hard market conditions.

Axis and Stone Point launch casualty-focused collateralised reinsurer Monarch Point Re

Axis Capital has partnered with Stone Point Credit Adviser to launch a new collateralised reinsurer called Monarch Point Re, which will underwrite a book of casualty business retroceded by subsidiaries of the Bermudian business, and which will be led by former Montpelier Re CEO Christopher Harris.

NormanMax gets initial Lloyd’s approval to launch parametric Syndicate 3939

Brad Meier-led E&S start-up NormanMax Holdings has received preliminary approval from the Lloyd’s business opportunities committee to launch parametric-only Syndicate 3939 with Apollo Syndicate Management, as it works with GC Securities to raise capital, E&S Insurer can reveal.

Reinsurance broking start-up Augment goes for the differentiation approach

Recently launched broker Augment is positioning itself as a differentiated alternative to the traditional broker market, offering multi-year, multi-geographic reinsurance and capital solutions focused on assisting clients in achieving their strategic objectives through an Ebitda-driven approach, The Insurer can reveal.

Griffin Highline Capital backing Matz-McNitt Florida start-up Orange

Former RenaissanceRe executive Michael Doak’s private equity firm Griffin Highline Capital is backing Florida residential insurance start-up Orange Insurance Exchange as it prepares for a December launch, The Insurer can reveal.

Zeller and Arora fundraising for $1bn Switzerland-based reinsurer start-up

Former Hannover Re CEO Wilhelm Zeller and ex-Axis Re CEO Steve Arora are in the process of fundraising for a new Switzerland-based multi-line P&C reinsurer called Alpine Re, which is looking to make a strategic entry early next year to target what is viewed as a significant opportunity in the space, The Insurer can reveal.

Augment continues senior build-out with former Aon exec Ledger

Reinsurance broking start-up Augment has further bolstered its senior team with the appointment of David Ledger as senior advisor.

Matz teams up with McNitt and Cabrillo on FL start-up Orange Insurance Exchange

Former Tower Hill executive Don Matz has teamed up with Michael McNitt and MGA Cabrillo to launch Florida residential insurance start-up Orange Insurance Exchange, which aims to begin underwriting in December in the voluntary market as well as considering Citizens takeouts, The Insurer can reveal.

Former Inver Re parametric head Kurt Cripps to join start-up Augment

Recently departed Inver Re parametric head Kurt Cripps will re-emerge in a senior role at fledgling (re)insurance intermediary Augment, The Insurer can reveal.

Florida regulator approves Hippo’s Mainsail as P&C domestic carrier

The Florida Office of Insurance Regulation (FLOIR) Friday approved Texas-based carrier Mainsail Insurance Company as an authorized property and casualty domestic insurer in the Sunshine State, as it also said it has now green-lighted 280,000 polices to be taken out of Citizens through to October 2023.

Alchemy build-out continues with market veteran Isachsen named claims head

Alchemy Underwriting, the new MGA from former Sompo International executives Richard Housley and Rupert Cousins, has continued its build-out with the hire of market veteran John Isachsen as head of claims, The Insurer can reveal.

Insurtech veteran Waite launches automation-focused Modives

Veteran insurtech entrepreneur Frederick Waite has launched Modives, a venture focused on the automation of insurance verification for property managers and auto dealers.

London start-up Pantheon swoops for Price Forbes’ Thorsteinson as early business wins continue

Pantheon Specialty, the ambitious London market wholesaler formed by former Besso joint CEO Rob Dowman, has doubled down on early business wins with the hire of Price Forbes’ exiting North America casualty specialist Danielle Thorsteinson, The Insurer can reveal.

Region

Topics

Events & Conferences

Content Types