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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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Private capital providers are being signed down as two strong years have piqued interest.
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Lloyd’s investment vehicles have been shelved in past years but a strong run of returns is creating interest.
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It comes as the MGA expects to write more than $1bn of premium in 2026.
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West Hill Capital is the main investor in the capital raise.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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The sidecar will support five programs providing specialty frequency coverages.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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The tech firm is building a joint stock company with insurers and investors.
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The relationship between growth and capital is “symbiotic”, the broker said.
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Lenders include Morgan Stanley, Permira and Bridgepoint.
