Ledgebrook raises over £150 million to scale AI-powered specialty insurance platform
The financing will help Ledgebrook expand Blackbird, which automates underwriting and quotes specialty risks in hours, the company said.
- Boston-Based Ledgebrook, an AI-native specialty insurance platform, secured $200 million in primary equity financing, co-led by Allianz X and Rockefeller Capital Management.
- The firm is on track to exceed $1 billion in cumulative premiums written since 2023, according to Gage Caligaris, Founder and CEO of Ledgebrook, driven by rapid expansion.
- Blackbird, the firm's proprietary AI-native underwriting platform, automates submissions and risk classification, enabling underwriters to quote specialty risks "often in hours rather than weeks."
- Allianz Re, the insurer's global reinsurance operation, entered a multi-year reinsurance agreement with Ledgebrook, deepening Allianz's presence in the property and casualty sector.
- Excess and surplus market growth remains strong, according to John Mullen, President of E&S at Ledgebrook, as admitted carriers tighten their appetite for specialized risks.
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Ledgebrook secures $200m equity financing, gets multi-year Allianz reinsurance
AI-native specialty insurance platform, Ledgebrook, has successfully raised $200 million in primary equity financing, co-led by Allianz X and Rockefeller Capital Management, and has also agreed a multi-year reinsurance agreement with Allianz Re. This $200 million in primary equity financing follows numerous funding rounds for Ledgebrook, which started in August 2022 with $4.2 million in seed funding. The Boston-based AI-native specialty insuranc…
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Gage Caligaris' Ledgebrook has raised $200 million, co-led by Allianz X and Rockefeller Capital Management. The valuation is $2.6 billion, a source said.
Allianz Group's investment arm is participating in a financing round of USD 200 million in the US-Assekuradeur Ledgebrook, which was founded in 2021. In addition to Allianz X, Rockefeller Capital Management and other existing customers and new investors are involved. Parallel to the equity investment, Allianz Re enters into a multi-year reinsurance agreement with the US company. Allianz X invests in US-Assekuradeur Ledgebrook first appeared on i…
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