Start-ups
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The reinsurance start-up could list on the London Stock Exchange in November. -
The appointments will give the new MGA a footprint in three markets.
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Griffin Highline will seek to invest in specialist companies across the spectrum of distribution, carriers and insurance services firms.
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Other investors involved in the fundraise include InsurTech specialist FinTLV and existing investor and (re)insurance capacity provider Munich Re.
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The funding for the deal was set to come from Cantor Fitzgerald and its billionaire CEO Howard Lutnick.
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The former Verto CEO is fundraising to begin writing as an MGA in 2021.
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Who is raising it, how much it will cost, and how best to use it – a round-up of the key points from the second day of (Re)Connect virtual conference.
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Sources said a final decision on whether to proceed with the venture is still pending.
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The executive said the company is targeting a trial of usage-based cyber policies for early 2021.
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The reciprocal exchange is reinsured by the French carrier Scor and follows a $24mn capital raise.
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The M&A and D&O insurance specialist has joined the company in New York.
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Other InsurTechs are likely mulling IPO options and are garnering more investor interest, according to a report.
