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The executive said his company is still “strongly capitalized” after raising its $118mn Series C round in March.
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The firm has developed a capability to hedge commodity price risk and was originally backed by Ascot Underwriting.
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Companies that had easily lured investors with major premium growth are now scrambling to prove their fundamentals work, and are sitting out fundraising to avoid a down round.
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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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Investment bank RBC has been retained to advise as the firm seeks a buyer, or new lead backer four years after its last funding round.
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The InsurTech (pronounced Signus) provides clients with the ability to securely connect and collaborate with brokers, insurers, vendors and policyholders.
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The personal auto writer’s partnership with the digital dealership should serve as a warning for other InsurTechs.
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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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Simpson spent 15 years at Marsh’s commercial and private client divisions.
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The deal could see payouts to over 110,500 customers nationwide, with 75% of the settlement earmarked to 5,011 in Illinois.
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Simard joins Hippo after 10 years at American Family Enterprise, where he most recently served as associate vice president of property field and catastrophe claims.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.