Latest Funding News: Insurtechs, Brand Growth & More

Just a quick round up of the latest funding and growth investment new we spotted online recently;

QOALA

Deal Street Asia is reporting that Qoala has raised another $5.4m in Series B funding as it looks to expand further. Indonesia based Qoala was founded back in 2018 and specialises in Commercial, Life and Health cover.

ALICIA

Netherlands based Alicia has announced a successful 7m euro funding round, as it looks to expand its freelancer insurance offer across more EU territories. The brand is currently acrtive in Spain, Germany, the UK and Belgium, plus the Netherlands. Volta Ventures, Achmea Innovation Fund and the Randstad Innovation Fund all took part in this latest round.

MS&AD VENTURES

MS&AD Insurance Group Holdings, Inc. has increased the fund amount available for investing in insurance brands and start-ups by US $100 million ( approximately JPY 14 billion) which brings the total amount under management to US $300 million (approximately JPY 42 billion), says a company press release late December.

Going forward, MS&AD Insurance Group will continue to make use of MS&AD Ventures’ effective investment activities to provide new value to stakeholders while working to solve social issues, with the aim of achieving sustainable growth and increasing corporate value.

BMS GROUP

According to Captive International reinsurance specialist BMS has agreed a deal with Eurazeo on additional investment, which is unspecified. The cash will fund extra growth for BMS in 2023.

ARTHUR GALLAGHER

Late December, Arthur J Gallagher announced they were buying ROC Group, a HR specialty company in the USA. Terms were not disclosed, but the offical PR release is here.

HOWDEN

Just before the end of the year Howden announced it had made a move on March Risk Solutions, a Spain based broker.

José Luis Acea, CEO of Banca March, commented: “March Risk Solutions and Howden will combine best-in-class expertise and knowledge of the Iberian market and with the addition of Howden’s global network we will be able to boost the growth of our brokerage business, providing both a local and international offering to clients which is truly market leading.”