Capital raising

It comes as the MGA expects to write more than $1bn of premium in 2026.

West Hill Capital is the main investor in the capital raise.

The Bermuda reinsurer has been active in ILS since launching in 2007.

The sidecar will support five programs providing specialty frequency coverages.

From aviation claims to retention challenges, underlying dynamics will take time to play out.

The tech firm is building a joint stock company with insurers and investors.

The relationship between growth and capital is “symbiotic”, the broker said.

Lenders include Morgan Stanley, Permira and Bridgepoint.

Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.

The syndicate will be targeting approximately $50mn of GWP in its first year.

Apollo most recently received in-principle approval for Syndicate 1972.

The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.

Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.

The insurer’s plans for the syndicate were revealed by this publication earlier this year.

The reinsurer is moving all its non-cat business to the new syndicate, leaving 1910 focussed on peak cat.

The post-disaster reinsurance start-up model is changing.

It is understood that CyberCube has been considering a sale of the business.

Strong CoRs and investment returns supported profitability in H1 2025.

The ILS play will make the business more capital efficient under new owner Sixth Street.

Assurex’s global independent broker network pumps $4bn of premium into the London market.

The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.

The fronting insurer will be able to support MGAs across the 27 EU states.

The firm is currently working with 13 MGAs, including QMetric and Eaton Gate.

A second syndicate is being explored for “big and bold” new lines

The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.

Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.

The company resumed work on a public offering in September.

The deal, revealed by this publication in December, values the firm at $14bn.

Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.

The Lloyd’s business secured a $90mn investment from Alchemy in 2021.

The managing agent for Syndicate 609 has been involved in an M&A process this year.

BP Marsh has subscribed for a 49% shareholding in the start-up MGA.

The $2.59bn renewal is up 45% from last year.

The Corporation is poised to accelerate its investments in start-ups.

Insight into the state of the insurance M&A market, powered by this publication's deal database.

The programme will succeed the previous buyback launched in 2023.

The CEO said Ascot would deploy capital where it sees opportunities.

The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.

The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.

Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.

We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.

Lloyd’s chair Bruce Carnegie-Brown officially hands over to Charles Roxburgh today.

Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.

The carrier is offering shares priced at $29-$31.

As the next generation of Names comes to the fore, advisers urge simplification.

The fund apparently plans to purchase life insurance policies as investments.

The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.

Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.

Due diligence is essential to make sure incubators are backing winners.

Modified freehold gives syndicates and investors clarity around exit plans.

Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.

Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.

Syndicate 1984 will be backed by Names under a modified freehold arrangement.

Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.

The investors are led by PE firm NMS Capital Group.

Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.

The insurer has renewed separate three and five-year arrangements.

The business is targeting an enterprise value in excess of $30bn, sources said.

The MGA can now put down $200mn lines in the niche aviation war class.

The path to Howden’s new era is steep – but the opportunity is vast.

In part two of our 2025 outlook, we explore the drivers of carrier M&A and recreating the ESG agenda.

The $2bn+ raise would likely rest on the base case of an IPO in the medium term.

Certain new and old themes will re-emerge this year as the balance of power shifts.

The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.

The reduction in capacity reflects “strategic adjustments”.

The broking business will transfer along with four unknown assets owned by the PE backer.

Insight into the insurance M&A market, powered by Insurance Insider’s deal database.

The company has exited some transactional liability and commercial D&O business.

The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.

The carrier has undertaken work to give it “optionality” for a public listing, but has no plans to list in the short term.

The start-up has secured BMA approval as it looks to a 1 January kick-off.

Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.

The company’s net asset value per share is expected to hit £2.06.

Acrisure’s syndicate launched in 2023 with an $84.4mn stamp.

Oak Re is being spearheaded by former RenaissanceRe executive Cathal Carr.

Carlyle re-launched efforts to find minority investor last June.

The Hartford will assume a quota share of Coalition’s UK cyber program.

In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.

Capital diversity can only be achieved when there are more options for third-party providers to access.

MIC Global will become Lloyd’s coverholder of Greenlight Re’s Syndicate 3456 for 2025

The Lloyd’s spread vehicle failed to meet fundraising deadlines.

There has been some strategic withdrawal of capital for younger syndicates.

The Canadian pension plan put its Lloyd’s portfolio under review earlier this year.

The shift to private market fundraising should be a meaningful boost to this and other initiatives.

K2 plans to put $10mn-$20mn into the new syndicate, with third-party investors teeing up to fund the rest.

Former Teneo M&A head Alexander Schnieders will lead the unit.

The proceeds will fund AUB’s acquisition of Pacific Indemnity.

The hard market has not burst the MGA bubble – and now interest is on the rise again.

The additional investment from HarbourVest brings total fundraising to $120mn.

Artificial Labs undertook the Lloyd’s Lab accelerator programme in 2020.

The transaction will reduce the firm’s reliance on private debt deals.

A hard cat market in 2023 means cedants must consider the alternatives.

As part of the fundraise, Marcus Ryu, Battery Ventures partner, and a16z general partner Angela Strange will join Hyperexponential’s board.

We look at data trends that shed light on the past year, ranging from growth plans at Lloyd’s to personnel planning, uncertain IPO prospects and the unexpected trends from Florida losses.

Lloyd’s has been trying to simplify its story for external investors, but it has more work to do judging by the outcome of the London SPAC vehicle that was planning a new syndicate investment launch.

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.

The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.

Gallagher Re's latest Global InsurTech report has shown that Q2 funding dropped below $1bn to the lowest quarterly investment level in three years.

The investment will help the MGU to further establish its position in both the Lloyd’s delegated authority and international coverholder markets.

The reaction to capital raising this year signals that investor belief in risk-takers is reinvigorated.

The carrier stands to raise $210mn from the offering.

The InsurTech uses aAI to calculate the severity of extreme weather events.

Lloyd’s CEO John Neal said the Corporation now has ‘breathing space’ to consider improving individual investors’ access to the market.

The funding triples Novidea’s value in less than two years and will be used to develop its insurance platform and drive international growth.

Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.

The fast-growing group – which did not exist when the UK voted to leave the EU – is now close to $500mn of adjusted Ebitda.

City of London grandee Martin Gilbert is attached to the project in a non-executive capacity, sources said.

Morgan Stanley has reached out to sponsors in recent weeks after initial attempts to source a US strategic tie-up.

The funding round, Superscript’s largest to date, was led by BHL UK and included participation from Concentric and The Hartford.

As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.

The company specialises in technology-enabled surety bonds that can be bought and managed through the company’s platform.

The vehicle offers attachment points of $500mn and above for global property and downstream energy risks.

Syndicates will need to put up more capital for 2023 and will likely have to resubmit business plans after 1 January.

PE funds considering a play in the catastrophe space are far more likely to be looking for an alpha play.

Cover Genius has grown GWP to nearly $1.1mn a day since its last funding round in September 2021.

The fundraise comes after the company raised $180mn of Series A funding last year.

Investors are beginning to pull back from writing $50mn+ funding cheques for InsurTechs, according to Zach Powell, general partner at Eos Ventures.

The fund has already made its first investment, joining Descartes Underwriting’s recent $120mn Series B funding round.

The funding will be used to hire dozens more client directors by the end of the year and expand the platform.

The funding round led by Force Over Mass Capital will trigger a hiring spree at Artificial Labs and fuel the development of its automated underwriting platform.

The US firm is looking at expanding across Australia, Canada and the UK after securing new investment.

The Series A funding round was led by Mercia Asset Management.

The start-up can now expand operations in new territories to help farmers recover from extreme climate events.

The investment will be used to develop Humn’s data capabilities, grow commercial teams and drive European expansion.

Everest Re recently outlined plans to lift gross premium by 10%-15% annually from 2021 to 2023.

Eigen Technologies, which helps insurers and brokers extract and digitise data from various sources, hopes to accelerate growth with new investment in the London market.

Willis’s Quarterly InsurTech Briefing shows investments raised more in H1 this year than the whole of 2020.

The UK specialist technology firm that helps carriers deploy pricing models is looking to North America and Bermuda as key expansion areas.

Reinsurers from Bermuda, the Cayman Islands and Japan have also provided capital to the syndicate for its 1 July launch.

The business was founded in 2013 by Hong Kong tycoon Richard Li and has expanded across Asia.