Fundraising
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Increased private investments by (re)insurers have been a “theme of the year” according to Johnston, who described the year as “one of consistency.” -
With plans to support three different types of Lloyd’s syndicates, the vehicle intends to trade under the new name London Innovation Underwriters by 15 November.
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The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.
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Gallagher Re's latest Global InsurTech report has shown that Q2 funding dropped below $1bn to the lowest quarterly investment level in three years.
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The investment will help the MGU to further establish its position in both the Lloyd’s delegated authority and international coverholder markets.
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The reaction to capital raising this year signals that investor belief in risk-takers is reinvigorated.
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The carrier stands to raise $210mn from the offering.
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The InsurTech uses aAI to calculate the severity of extreme weather events.
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Lloyd’s CEO John Neal said the Corporation now has ‘breathing space’ to consider improving individual investors’ access to the market.
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The funding triples Novidea’s value in less than two years and will be used to develop its insurance platform and drive international growth.
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Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.
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The fast-growing group – which did not exist when the UK voted to leave the EU – is now close to $500mn of adjusted Ebitda.
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