Start-ups

The M&A insurance MGA also secured support from Accelerant.

The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.

The syndicate will be Asta managed and have capacity from Hampden Names.

It is backed by paper from MS Transverse, this publication understands.

The business has raised $250mn from backers including PartnerRe, RenRe, Starr and Amwins.

The company is aiming for a 2024 Florida rollout, offering HO-3 and DP-3 policies.

The carrier expects to re-emerge after operating as going-concern Anchor.

It is understood that the InsurTech began fundraising late last year.

The executive had been scoping out a new venture since late 2022, working alongside Bob Cooney on the first iteration.

The former Aegis London CEO joins former AIG, Marsh McLennan and Ace CEO Brian Duperreault at the start-up.

Reciprocals have been cropping up more recently, with a shift toward cat-exposed lines, giving investors a quick way to tap into the hard market with an expectation of a rich multiple at exit.

Farmers’ agents in Florida will be offered an appointment with Slide. Renewals issued by Slide will begin for February 2024 effective dates.