IPOs

Carl Bauer-Schlichtegroll said InsurTechs in the IPO market attracted a lot of investors who did not understand the complexities of the insurance market.

The classic car insurer goes public but might have to pay a price for growth later.

The classic car underwriter will use the proceeds from its most recent fundraise to spur organic growth, and invest in data, technology, and geographic expansion.

The Traverse City, Michigan-headquartered MGA began training Friday after a merger deal with SPAC Aldel Financial, valuing the business at around $3.1bn.

After Slide completed a $100mn fundraise, the CEO laid out the InsurTech’s plans to launch in five states at the start of 2022 in an interview with Inside P&C.

AM Best said the ratings reflect Hallmark Group’s balance sheet strength, which the agency assessed as strong.

Monday’s disclosure showed the company had $78.8mn of gross premiums earned in 2020, and $119.4mn earned in the nine months ended 30 September 2021.

Depending on the pace at which others move, the firm could still be the first commercial lines player to trade publicly.

The private equity-backed retail brokers have lessons to teach the sector’s tech start-ups.

RT ProExec report finds increasing legal and regulatory action on SPACs and cybersecurity among top concerns for D&O market.

CEO Peter Zaffino said on Friday that AIG expects to be able to list more of the L&R unit than the 19.9% originally planned, and would fully use its remaining tax credits in 2022.

The move follows a $100mn capital raise in February from private equity house Centerbridge Partners that valued the InsurTech at $850mn.