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Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The aborted listing is the latest piece of evidence around challenges in the listed InsurTech space.
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Howden Tiger Markets & Advisory and Swiss Re Capital Markets acted as joint structuring agents and joint bookrunners on the transaction.
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Sources suggested that the layoffs at Buckle are more severe than at other InsurTechs that instituted headcount reduction programs with a view to preserving cash.
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While there were sparks of cheerfulness among attendees, a careful reading of the room showed that rationalism is superseding optimism.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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If a deal is sealed, it will be the second biggest US MGA deal of the year-to-date following Amynta’s acquisition of Ambridge.
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Gangu was previously president of the insurance and services division and COO at SiriusPoint.
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Root’s challenges generate lessons for other InsurTechs, as its stock value crash leads to a management exodus, and the banking collapse dries up funding needed to balance cash burn.
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Recent data shows an increase in InsurTech short interest and a slight uptick for brokers and P&C insurers as a result of economic uncertainty following the banking crisis.
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It is understood that the company has mandated Nomura to raise the risk capital.
