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Newfront’s business units will be combined with Risk & Broking and Health, Wealth & Career. -
Sources said that the New York-based InsurTech retained Evercore to advise on the process.
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InsurTech funding was down 7.3% from $1.09bn in the prior quarter.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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The insurer has been under review with positive implications since March.
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Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The company plans to launch in New York and New Jersey next year.
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The tech could quickly open the door to disruptors, and firms with poor data management will lose out.
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More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
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Its partnership channel grew three times in new writings year-over-year.
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CEO Rick McCathron also said the company is seeking to diversify its portfolio.
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The company reduced its proportional quota share program from 55% to 20% cession.
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The executive has been with the company for roughly one year.
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The cyber business will continue to operate as a standalone entity.
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The company said the reduction was due to years of steady improvements.
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The Florida homeowners’ InsurTech went public today at $17 per share.
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The carrier is pricing shares at the upper end of the range announced this month.
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This is up from last year’s $1bn protection for its Florida treaty.
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The deal triples Hippo’s new homeowner leads and extends Baldwin’s MGA capacity.
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The Floridian is the third insurance company to go public in 2025.
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The Series C brings the company's valuation to $2.1bn, its highest to date.
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A week ago, this publication revealed that Slide was pressing ahead with its IPO plans with an S-1 filing.
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He will also invest in the company.
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Shares were down as much as 20% after Hippo posted a $48mn loss.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Nordic operations have capacity provided by Allianz Commercial.
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The sale price represents Elephant’s approximate net asset value.
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The specialty insurance platform has now exceeded $3.1bn in premiums.
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The executive will also oversee premium audit and customer service.
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The InsurTech was also removed from under review, negative.
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It makes sense for Next to secure a sale as an exit strategy in an increasingly challenging funding environment.
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Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.
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The funding round valued the company at around $850mn.
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Hippo estimated its pre-tax cat loss from the LA wildfires at $42mn.
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