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Attendees noted the increased presence of service providers and carriers. -
Hiscox, Intact Ventures, Weatherford and RPM Ventures participated in the fundraise.
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The deal adds to Aspen’s existing support of the InsurTech in the UK and Canada.
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The agency cited the InsurTech’s material underwriting losses in 2023.
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This publication revealed that the company was raising capital earlier this year.
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The InsurTech’s quarterly revenue increased 80.2% to $64.5mn.
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The InsurTech will push for its services segments as main growth drivers.
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It’s unsurprising, following the Corvus-Travelers transaction.
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Fourth-quarter results saw larger profits, but 2024 guidance was subdued.
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The company has raised a total of $16mn in funding to date.
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The latest development comes on the heels of the Corvus-Travelers deal.
