US insurtech company Gradient AI, which uses artificial intelligence-based solutions, has secured $6.0 million in a Series A financing round led by Forte Ventures and Sandbox Insurtech Ventures. The financing round also saw participation from MassMutual Ventures, the company’s existing investor. Gradient AI said that its artificial intelligence solutions enable commercial insurers to automate and […]
Tokio Marine acquisition of PURE Group : Japanese insurance holding company Tokio Marine will acquire Privilege Underwriters (PUI), which does business through the US insurance group – Pure Group of Insurance Companies (PURE Group) for $3.1 billion. The US insurance group is being acquired from investors led by KKR and Stone Point Capital, as per […]
AmWINS acquisition of Stealth Partner Group : US insurance broker AmWINS Group, which distributes specialty insurance products and services, has agreed to acquire Arizona-based Stealth Partner Group for an undisclosed price, as per the latest insurance acquisition news. Stealth Partner Group is an independent full-service general agent (GA) that specializes in medical stop-loss insurance. Headquartered […]
Gallagher acquisition of Serna Insurance : Global insurance brokerage Arthur J. Gallagher & Co has acquired Serna Insurance Agency based in Humble, Texas, for an undisclosed price, as per the latest insurance acquisition news. Established in 2001 by Pete and Martha Serna, Serna Insurance Agency provides private client, personal lines and commercial insurance products and […]
Integrity Marketing Group acquired American Investment Strategies (AIS), an insurance marketing organization based in Ohio, for an undisclosed amount. American Investment Strategies provides a range of personal and commercial insurance products in the US Midwest for the Senior Market, which includes Medicare Advantage, Medicare Supplement, and long-term care options. Bryan Adams – Co-founder and CEO […]
US insurance holding company Markel has launched Lodgepine Capital Management – its new retrocessional insurance linked securities fund manager (retrocessional ILS fund manager) in Bermuda, along with a reinsurance company called Lodgepine Re. The initial product offering of Lodgepine Capital Management will be the Lodgepine Fund, a property catastrophe retrocessional investment fund ahead of the […]
UK Insurance industry news : The UK witnesses 1,300 insurance scams uncovered every day with the average con being £12,000, as per the annual detected fraud figures published by The Association of British Insurers (ABI) for the year 2018. The association found that the total number of fraudulent claims and applications that were detected last […]