InsurTech

The company’s gross written premiums totaled $83.2mn in Q1 2023, marking a 54% increase year on year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Last week, the company disclosed an ultimate loss ratio of 36% for 2022, as the market softened after a period of dramatic hardening in 2020/21.

The round was led by Tokio Marine and included MetLife Next Gen Ventures, Malaysia's sovereign wealth fund Khazanah Nasional and new and existing shareholders.

Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.

The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Boston-based cyber MGA also reported premium growth of 80% last year compared with 2021.

Morgan Stanley served as exclusive financial adviser to Neptune. Howden Tiger Capital Markets & Advisory acted as financial adviser to Bregal Sagemount and FTV.

Hippo’s gross loss ratio remained unchanged at 76% and its net loss ratio rose 23 points to 273% as the InsurTech was hit by catastrophic events in Q1, mainly in California.