A record 203 investment deals were made into insurtech companies worldwide last year, according to Financial Technology Partners. However, the San Francisco investment bank found that financing volumes fell 17% from the previous year's $2.693bn to $2.238bn. The year saw the first initial public offering by an insurtech company started after 2010, with China's ZhongAn insurance raising $1.5bn through a Hong Kong listing. In China, insurers are also looking for ways to expand their business beyond traditional property and casualty insurance. Lemonade was the biggest property and casualty funding deal of 2017, raising $120m.
A record 203 investment deals were made into insurtech companies worldwide last year, according to Financial Technology Partners. However, the San Francisco investment bank found that financing volumes fell 17% from the previous year's $2.693bn to $2.238bn. The year saw the first initial public offering by an insurtech company started after 2010, with China's ZhongAn insurance raising $1.5bn through a Hong Kong listing. There were over 80 merger and acquisition transactions last year, totalling $5.6bn - the biggest involving a start-up being Guidewire's acquisition of Cyence. Lemonade was the biggest property and casualty funding deal of 2017, raising $120m.