Start-ups

The broker is developing solutions to accurately quantify intangibles including IP

Ambac’s fronting company Everspan has acquired Enstar’s subsidiary Providence Washington Insurance (PWIC) as part of its strategy to launch new admitted programs and expand its products portfolio.

Foundation Capital, Revolution’s Rise of the Rest Seed Fund, Clocktower Technology Ventures, Sure Ventures, and several angel investors, also joined the seed funding round.

Durable Capital, T Rowe Price Associates and Whale Rock Capital led the InsurTech’s latest round.

The executive joined Vantage on Monday, after spending the last 10 years at Axa XL.

The Silicon Valley-based Vouch, launched in 2019, raised $90mn at a $550mn valuation in its Series C round.

The Greg Hendrick-led firm added Richard Wall from Axa XL, Bhuma Patel from CNA, and Leona Lik from Aon for the buildout.

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.

The latest funding round was co-led by Icon Ventures and Lightspeed Venture Partners.

The new company will be named Newfront and is expected to place $2bn in premiums annually.

The executive will exit the Greg Hendrick-led start-up on July 2.

AIG, Axis, Chubb, Travelers, and The Hartford are among the underwriters to support the launch.