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The investment came from Geodesic Capital, QED Investors, and additional investors. -
An industry veteran of nearly five decades, the newly appointed independent director previously served as executive chairman for AIG's board of directors, and as the company’s CEO from 2017 to 2021.
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The Florida insurance carrier has grown its book rapidly through acquisition.
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The Texas Department of Insurance is not expected to conclude its revision and approve the filing before Q3.
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Inside P&C’s news team runs you through the key highlights of the week.
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A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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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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The fundraise comes just six months after the company raised $42mn in its Series A round, which was led by Foundation Capital, along with Aquiline Technology Growth.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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Though insurers are not heavily invested in Silicon Valley Bank, Signature Bank, or in other regional banks at risk of contagion, the developing macroeconomic situation could impact P&C carriers more significantly.
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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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The company added that it currently has less than $7,000 in cash at SVB.
