Personal Lines

Richard McCathron said that Metromile’s fate does not concern him because InsurTechs are not made equal.

Just over a quarter of shareholders voted to redeem shares as Aldel Financial took classic car underwriter public.

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.

The classic car MGA had previously agreed on a SPAC merger deal with Aldel Financial.

Lingering economic effects from pandemic, including supply chain disruptions and difficulties luring talent, pose challenges for US personal lines, according to AM Best.

the executive will oversee the MGA’s growth strategies, business planning, partnerships and execution, reporting to president of insurance Jack Butcher.

California homeowners MGA Delos Insurance has raised $5.3mn in a seed funding round.

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.

Slide will use the funding to accelerate its development of data-driven technology and operations.

Despite numerous firms divesting their life operations in the past, companies are again nibbling at the edges.

The Florida-headquartered carrier blamed litigation rates and rising reinsurance costs for the move.