Start-ups
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PE house Vistria will back the buy-and-build strategy in the independent agency space. -
The front has lined up its first 10 programs and is confident it will get at least seven or eight of them.
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Earlier this week, this publication revealed that Axis and Accelerant will support the recently launched MGA.
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The M&A insurance MGA also secured support from Accelerant.
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The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.
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The syndicate will be Asta managed and have capacity from Hampden Names.
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It is backed by paper from MS Transverse, this publication understands.
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The business has raised $250mn from backers including PartnerRe, RenRe, Starr and Amwins.
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The company is aiming for a 2024 Florida rollout, offering HO-3 and DP-3 policies.
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The carrier expects to re-emerge after operating as going-concern Anchor.
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It is understood that the InsurTech began fundraising late last year.
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The executive had been scoping out a new venture since late 2022, working alongside Bob Cooney on the first iteration.
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