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The company will use the funding to invest in new software hires and expansion in Hong Kong and Madrid.
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The supply-chain InsurTech is also broadening the scope of its Lloyd’s syndicate. -
The round was led by global technology giant Tencent and saw participation from SV Angel and Hawktail.
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The fund will focus on later-stage investment in companies already known to Eos.
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Reinsurers using the platform will now be able to receive their lines at the cedent’s chosen clearing price automatically.
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The funding was led by Anthemis Group, Blue Bear Capital and QBE Ventures.
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As a result of the deal, EY, through its wholly owned subsidiary Shackleton, becomes a minority shareholder in IncubEx.
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K2 Parametric will offer policies that pay pre-agreed claim amounts based on local parameters of measurable events, such as hurricanes or earthquakes.
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The firm has hired former head of specialty at Ariel Re, Amit Shah.
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The new functionality supports online collaboration for optimal placements.
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Trade body Insurance Europe has warned the Prudential Regulation Authority (PRA) that the temporary regime enabling EU reinsurers to trade in the UK will close before they know which of the Solvency II reforms will be taken forward.
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ILS Capital Management has backed the launch of a new InsurTech incubator, Mltply, which will offer fronting and reinsurance capacity to start-ups as well as venture capital and infrastructure support.
