Life reinsurance company Balance Re has raised $10m from a Series A funding round led by Anthemis Group.
The round also saw Global Brain, Talabot Finance and Roland Berger Industries take part.
Balance Re provides reinsurance solutions to life insurance companies. The company’s proprietary technology enables users to assess and measure risks through time and facilitates real-time data analysis.
According to Reinsurance News, Anthemis and Global Brain will bring extensive knowledge of the insurance sector and expertise in technologies dedicated to the financial industry.
Balance Re will use the newly raised capital to further develop its asset-liability management technology and to support its full-licensed reinsurer in Cologne, Germany.
The company claims it is the first reinsurer able to provide its clients with easy-to-implement and cost-efficient reinsurance solutions.
Balance Re founders Lucian Rautu and Michel Gauer said, “We are delighted to welcome Anthemis and Global Brain in the capital of Balance Re and at the Board. Their deep industry knowledge and capacity to take an “outside-the-box” approach to venture investments in the insurance space make them the perfect partners to disrupt the life reinsurance market.”
Global Brain partner Naoki Kamimaeda added, “We believe that the technology developed by the Balance Re team has far-reaching applications beyond life reinsurance and Europe. We are enthusiastic to join them at this important stage of the journey and look forward to helping them realise their vision to improve the management of long-term insurance and pension liabilities globally.”
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