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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech. -
A quick roundup of this week’s biggest stories.
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The latest short interest data shows continued pessimism on InsurTechs and Florida insurers.
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The fundraise was led by Golub Capital and jointly arranged by Antares Capital, both existing lenders to Patriot Growth.
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This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.
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In addition to Lightyear’s capital injection, current backer BHMS agreed to roll a material portion of its existing equity and made an additional investment alongside Lightyear.
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The offering sold 3.6mn shares priced at $30.50 apiece and brought in approximately $104.9mn.
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Amynta Ease-of-Business president Arthur Seifert said he expects MGAs to move away from the popular Dutch auction process and instead find one party that’s a good fit.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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SEC filings show that, in Q3, the activist shareholder liquidated its remaining 508,880 shares in WTW — worth around $120mn at the end of Q2.
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With the fundraising, Skyward will capitalize on market opportunities within existing lines of business, but also continue to expand into new products.
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Last month this publication reported that the 777 Partners-backed company was close to signing a deal with Charlesbank.
