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The capital raise was led by Gravitas Securities.
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The InsurTech’s shares have tripled since November.
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The insurer’s new UBI offering is set to support further pricing segmentation and growth. -
Sharon Fernandez’s hire follows the appointment of Munich’s Andy Rear as Buckle chairman last year.
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The InsurTech’s stock had dropped to $113.36 per share at close of business on Monday.
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The deal has increased the carrier’s personal lines market share by about one percentage point.
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Defence costs are expected to remain elevated, as weather losses have also weighed on results.
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While PIF growth continues to excel in its direct personal auto channel, growth now appears to be trending downwards.
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The Irish broker was founded in 1961 and has around 200 employees writing both commercial and personal insurance.
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HCI is offering $5.2mn in stock plus up to $3.1mn cash for the portfolio.
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The InsurTech also discloses an increased fourth quarter marketing spend.
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The T-Mobile parent company says the InsurTech remains forbidden from using pink in the logo of its German subsidiary.
