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In June, Buckle acquired Gateway Insurance Company from an official in Illinois for $4.2mn.
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CEO Dan Preston says the initiative is part of the company’s strategy to expand into the third-party claims administration sector.
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The global InsurTech chief warns of a potential “emotional reaction” towards the sector if the IPO experience at the renters’ carrier sours. -
The second quarter recorded $1.56bn in funding across 74 deals.
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The company can bind cover instantly online and offers customers discounted cover by bundling auto and homeowners insurance.
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The move follows the company’s successful IPO earlier this month.
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The Chicago-based InsurTech has so far raised $64mn since it was founded in 2016.
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Evercore is understood to be advising the InsurTech company on the upcoming series F round.
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This week the team looks at the consequences of Lemonade's highly successful IPO and the implications for the InsurTech's prospects.
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The stratospheric rise of Lemonade’s share price in its opening days raises the question of whether other InsurTechs will now rush to list on the public markets.
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The shares hit an intra-day high of $96.51 a share, before falling to $81.19 ahead of the close.
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On Thursday, the last day of trading before the 4th of July weekend, Lemonade made its debut on the stock exchange.
