Latest Funding Headlines
All the headlines from our Funding Topic Page, ordered by recency.
Bermuda-Based Somerset Re Raises Capitalization to $375 Million
Oct 21 2016 // Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized...
Fast-Growing Insurance Matchmaker EverQuote Raises $23 Million
Oct 20 2016 // Digital insurance matchmaker EverQuote Inc. reports that it closed a $23 million Series B investment led by Maryland-based Savano Capital Partners, with participation from Stratim Capital, Oceanic Partners and T Capital...
Venture Capital, Traditional Insurer Interest in Insurtech Remains High
Aug 24 2016 // Even though venture capital investments in venture capital-backed financial technology (fintech) companies fell more than 50 percent globally during the second quarter of 2016, interest in insurance technology startups...
Fosun Plans to Sell as Much as $6 Billion in Assets to Raise Credit Rating
Aug 1 2016 // Fosun Group, one of China’s most acquisitive conglomerates, is preparing to sell as much as 40 billion yuan ($6 billion) in assets as it focuses on raising its credit rating to above junk. After announcing more than...
BP Raises Liability by $5.2 Billion for Deepwater Horizon Spill
Jul 18 2016 // BP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax. The London-based company expects to...
AXIS Capital’s New Bermuda Operation, Harrington Re, Raises $600M
Jul 6 2016 // Harrington Re, a fledgling Bermuda operation sponsored by AXIS Capital Holdings Ltd., has raised $600 million in capital designed to beef up underwriting and investment plans put forth by its sponsor. Blackstone Group will...
Delta Lloyd to Raise $226M with Sale of Stake in Van Lanschot
Jun 9 2016 // Delta Lloyd NV may raise as much as 198.4 million euros ($226 million) through the sale of its stake in wealth manager Van Lanschot NV after shares were priced at 16 euros apiece. The offering size was 180 million euros...
Liberty Mutual Starts $150M Venture Capital Fund for Instech
May 20 2016 // Liberty Mutual Global Consumer Markets has formed a new venture capital initiative focused on technology and the insurance industry. Liberty Mutual Strategic Ventures (LMSV), a $150 million early stage venture fund, is...
Startup Embroker Raises $12.2M; Offers Firms Control Over Insurance Buying, Management
May 17 2016 // Investors have given $12.2 million to fund an insurance broker offering a cloud-based risk and insurance management system for small and mid-sized businesses. The broker, Embroker, promises to empower commercial lines...
Lyft Raises Offer to Drivers to $27M in Contractors V. Employees Suit
May 12 2016 // Lyft Inc. raised its proposed payout to 163,000 California drivers to $27 million in their lawsuit to be treated as employees rather than contractors. The revised settlement comes after a San Francisco federal judge...
Florida’s Universal Insurance Holdings Raises $10M in Share Sale
Apr 29 2016 // Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. Universal said it sold 583,771 shares of common stock to RenaissanceRe Ventures...
French Startup Drivy (‘Airbnb for Cars’) Raises $35M to Expand; Insured by Allianz
Apr 28 2016 // Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued expansion across...
London MGA, Pardus, Raises £1.6M ($2.3M) to Facilitate Next Phase of Growth
Apr 7 2016 // Pardus, the London-based independent managing general agency (MGA), announced the completion of a £1.6 million ($2.3 million) capital raising, which attracted a variety of new private investors into the business. Pardus...
Startup Slice, Offering Insurance for On-Demand Workers, Raises $3.9M
Mar 29 2016 // Slice Labs Inc., an instech startup set to launch an on-demand platform to sell insurance to participants in the on-demand economy, said it has secured $3.9 million in seed funding led by Horizons Ventures and XL...
PERILS Raises Insured Property Loss Estimate for UK Storms Eva & Frank to £578M
Mar 24 2016 // Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS,...
Update: Delta Lloyd Shareholders Approve Contested Plan to Raise $720M
Mar 17 2016 // Delta Lloyd NV rose to the highest since December after shareholders approved a contested plan to raise 650 million euros ($720 million) in a rights offer to improve its capital levels. The stock gained as much as 6.6...
Canada’s Fairfax Financial to Raise $536.4M to Fund Larger Stakes in 2 Insurers
Feb 23 2016 // Fairfax Financial Holdings said on Monday it plans to raise C$735 million ($536.42 million) through an equity issuance, to fund its acquisition of interests in Eurolife ERB Insurance Group Holdings and ICICI Lombard...
Virtual Insurance Agent Insurify with License Plate Quote Feature Raises $2 Million
Jan 28 2016 // Consumers will soon be able to simplify the buying of auto insurance by snapping a photo of their license plate and texting it to a phone number provided by the new site, Insurify.com, which will then generate price...
Entrepreneurs Raise $13 Million to ‘Reinvent’ U.S. P/C Insurance with Peer-to-Peer Insurer Lemonade
Jan 11 2016 // The U.S. property/casualty insurance industry is about to be tested directly by the sharing economy. Two tech entrepreneurs have raised $13 million in initial funding to launch a peer-to-peer online property/casualty...
IICF Northeast Benefit Dinner Raises $1.26M for Regional Charities
Dec 16 2015 // The Insurance Industry Charitable Foundation’s (IICF) 9th annual Northeast Benefit Dinner, held on Dec. 9 at New York City’s Waldorf Astoria Hotel, raised more than $1.26 million for regional charities. More...
