Sector Updates

An InsurTech newcomer, MiKargo247, is to be backed by Munich Re Syndicate, the Lloyd’s of London Marine & Specialty underwriter of reinsurance giant Munich Re.

Mercury Insurance has made its usage-based insurance app, MercuryGO, available to drivers in Virginia to help improve driving skills and safety.

With backing from Munich Re, Chainproof, which aims to “insure the future of Web3” has officially launched.

Berlin-based InsurTech company wefox has closed its Series D funding round on $400m, bringing its valuation to $4.5bn.

BlackFin Capital Partners, a private equity and venture capital firm focusing on financial services, has closed its Tech 2 fund at €350m.

SiriusPoint, a global specialty insurer and reinsurer, has partnered with Alta Signa, a European Manging General Agent (MGA) specialising in financial and professional lines insurance.

K2 Parametric Insurance Services, a subsidiary of K2 Insurance Services, has partnered with Homesite Underwriting Managers to offer parametric natural catastrophe policies in the US.

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.