Three Things – Happy Fourth of July 2025!

Posted on by Nick Coenen

Hi Friends!

We’re officially in the second half of the year. There was no time for a break this week. Even though we celebrated a holiday, the headlines indicated that our insurance sector isn’t slowing down. I’ve been watching an anticipated IPO, capital movement, platform growth, and strategic plays that continue within insurance, tech, and private equity.

Before we dive in, we wish you all a safe and joyful 4th of July holiday! I hope your day and weekend are filled with celebration, gratitude, and the freedom to enjoy what matters most. Enjoy the summer break, and I look forward to connecting with you soon.

Here are three things we learned this week.

Accelerant IPO Revealed While The Capital Keeps Coming

Accelerant has officially filed for its IPO, a milestone that’s been expected for some time as the company continues to develop its risk exchange platform model. They aim to build on the success of other insurance IPOs this year and raise capital to support the growth of their distinctive business model.

Alongside this, global broker Ardonagh announced a $2.5 billion equity investment led by Stone Point Capital, echoing recent moves like the Bain Capital/Acrisure deal. These aren’t just financial events; they’re statements showing that distribution entities creating value are being developed and scaled globally in insurance today.

Bishop Street’s MGA Momentum and Zurich Scoops up Insurtech

MGA platforms and specialty players continue leading the M&A surge. Bishop Street Underwriters acquired Aerospace Insurance Managers, establishing another carrier operation to create a niche-focused MGA. This aligns with their ongoing strategy, supported by private equity investor RedBird Capital, and utilizes their expanding, shared-service, technology-driven platform for specialty insurance activities.

Meanwhile, Zurich acquired cyber-focused BOXX, strengthening its tech-forward capabilities by acquiring an insurtech innovator rather than building that capability from scratch. This shows how established carriers can use their capital to take advantage of insurtech companies seeking a new home.

Additionally, Korean insurer DB Insurance is in talks to buy Fortegra for $1.5B to enter the valuable North American market, and ReSource Pro has acquired Propellint, a boutique system integrator. Strategic buyers are eager for niche expertise and modern tools to stay competitive.

Insurers Strategy, Rebrands, and Filling Gaps

Strategic recalibration continues across the market. Chubb appointed a new leader to head private equity distribution, signaling a stronger focus on investor-driven partnerships and complex risk channels. Arch launched a new marine unit led by a former MSIG executive, reinforcing its commitment to targeted specialty lines.

Starwind Specialty launched a property program to address expanding coverage gaps in the E&S market, a direct response to changing appetites and rising catastrophe exposures that are leaving many risks underserved.

On the Insurtech side, Lemonade lowered its reinsurance overhead at renewal, thanks to improved portfolio diversification. It’s a meaningful step toward greater efficiency and validation of its evolving risk model.

Finally, INSTANDA rolled out a rebrand to align with its global growth and expanding role as a digital distribution platform, highlighting how tech providers are evolving in step with the industry’s transformation.