Sector Updates

AmTrust Financial Services, a global specialty property casualty insurer, has acquired Contractor Managing General Insurance Agency, a California-based MGA that offers surety bonds to small to mid-sized contractors nationwide.

Apollo Brokers, a digital wholesale cyber insurance broker, has launched its Cyber Marketplace, which will offer cyber security solutions direct to every insured.

Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, has launched a Catastrophe Response System (CAT-RS) which it said will solve many of the greatest challenges insurers face when responding to natural catastrophe events such as hurricanes, wildfires, and more.

MercadoLibre, an Argentinian-based e-commerce company, has partnered with Brazil-based Prudential International Insurance to offer life insurance products to its shoppers via the Mercado Pago platform.

Coalition, a cyber insurance provider, has raised $250m in Series F funding, propelling it to a $5bn valuation.

Cowbell Cyber, provider of cyber insurance for small and medium-sized enterprises (SMEs), has expanded its agreement with Palomar Excess & Surplus Insurance Company to double underwriting capacity.

National Insurance Company Limited (NICL), a public sector insurer in India, has selected Cognizant as a technology provider to accelerate the company’s digital transformation.

Rey Assurance, an Indonesia-based integrated health, life and critical illness InsurTech, has raised $4.2m in seed funding.

American Farmers & Ranchers Mutual Insurance Company (AFR Insurance) has adopted global data analytics provider Verisk’s property claims-handling solutions, as part of its efforts to improve claims handling workflows.

GloveBox, a client experience platform for insurance agents and carriers, has raised $5.5m in Series A funding.