InsurTech

Unicorn-valued property software company Porch has closed its $100mn acquisition of Homeowners of America (HOA), a Texan personal lines insurer, from investors including IA Capital.

Next has a longstanding (re)insurance relationship with Munich Re, a major investor in the company.

Corvus last month raised $100mn in series C funding led by VC firm Insight Partners.

The company hopes to offer MGAs multi-year capital support through future securitization deals.

K2 has been on a deals spree of late, creating a new insurer in Florida and buying MGA April Group.

Short interest as a percent of float is a great indicator of current market sentiment.

The InsurTech’s loss ratio drops 18.3 points to 57.4% amid a pandemic-related drop in driving.

The move follows the expansion of GM, Ford and Tesla into the insurance market.

The report parses some of the more interesting aspects of going public through de-SPACing.

Kin is the latest insurer to expand its presence in Louisiana, following the return of Farmers to the state after a seven-year hiatus.

Nicole Perrault has stepped down from her role as head actuary of Hippo.

HDVI is planning to launch in Illinois, Indiana, Ohio, and Minnesota, on top of its existing presence in Tennessee and Alabama.