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InsurTech funding was down 7.3% from $1.09bn in the prior quarter. -
Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
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The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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The syndicate is expected to write ~$300mn of business in 2026.
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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.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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The syndicate will be targeting approximately $50mn of GWP in its first year.
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Apollo most recently received in-principle approval for Syndicate 1972.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The insurer’s plans for the syndicate were revealed by this publication earlier this year.
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The reinsurer is moving all its non-cat business to the new syndicate, leaving 1910 focussed on peak cat.
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The post-disaster reinsurance start-up model is changing.
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It is understood that CyberCube has been considering a sale of the business.
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Strong CoRs and investment returns supported profitability in H1 2025.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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Assurex’s global independent broker network pumps $4bn of premium into the London market.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The fronting insurer will be able to support MGAs across the 27 EU states.
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The firm is currently working with 13 MGAs, including QMetric and Eaton Gate.
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A second syndicate is being explored for “big and bold” new lines
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.
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The company resumed work on a public offering in September.
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The deal, revealed by this publication in December, values the firm at $14bn.
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Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
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The Lloyd’s business secured a $90mn investment from Alchemy in 2021.
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The managing agent for Syndicate 609 has been involved in an M&A process this year.
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BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
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The $2.59bn renewal is up 45% from last year.
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The Corporation is poised to accelerate its investments in start-ups.
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The programme will succeed the previous buyback launched in 2023.
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The CEO said Ascot would deploy capital where it sees opportunities.
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The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
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The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.
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Lloyd’s chair Bruce Carnegie-Brown officially hands over to Charles Roxburgh today.
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Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
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The carrier is offering shares priced at $29-$31.
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As the next generation of Names comes to the fore, advisers urge simplification.
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The fund apparently plans to purchase life insurance policies as investments.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
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Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.
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Due diligence is essential to make sure incubators are backing winners.
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Modified freehold gives syndicates and investors clarity around exit plans.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
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Syndicate 1984 will be backed by Names under a modified freehold arrangement.
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Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.
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The investors are led by PE firm NMS Capital Group.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.
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The insurer has renewed separate three and five-year arrangements.
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The business is targeting an enterprise value in excess of $30bn, sources said.
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The MGA can now put down $200mn lines in the niche aviation war class.
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The path to Howden’s new era is steep – but the opportunity is vast.
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In part two of our 2025 outlook, we explore the drivers of carrier M&A and recreating the ESG agenda.
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The $2bn+ raise would likely rest on the base case of an IPO in the medium term.
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Certain new and old themes will re-emerge this year as the balance of power shifts.
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The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
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The reduction in capacity reflects “strategic adjustments”.
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The broking business will transfer along with four unknown assets owned by the PE backer.
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Insight into the insurance M&A market, powered by Insurance Insider’s deal database.
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The company has exited some transactional liability and commercial D&O business.
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The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.
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The carrier has undertaken work to give it “optionality” for a public listing, but has no plans to list in the short term.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.
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The company’s net asset value per share is expected to hit £2.06.
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Acrisure’s syndicate launched in 2023 with an $84.4mn stamp.
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Oak Re is being spearheaded by former RenaissanceRe executive Cathal Carr.
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Carlyle re-launched efforts to find minority investor last June.
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The Hartford will assume a quota share of Coalition’s UK cyber program.
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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.
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Capital diversity can only be achieved when there are more options for third-party providers to access.
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MIC Global will become Lloyd’s coverholder of Greenlight Re’s Syndicate 3456 for 2025
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The Lloyd’s spread vehicle failed to meet fundraising deadlines.
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There has been some strategic withdrawal of capital for younger syndicates.
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The Canadian pension plan put its Lloyd’s portfolio under review earlier this year.
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The shift to private market fundraising should be a meaningful boost to this and other initiatives.
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K2 plans to put $10mn-$20mn into the new syndicate, with third-party investors teeing up to fund the rest.
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Former Teneo M&A head Alexander Schnieders will lead the unit.
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The proceeds will fund AUB’s acquisition of Pacific Indemnity.
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The hard market has not burst the MGA bubble – and now interest is on the rise again.
