Ategrity Specialty Insurance Company, a specialty property & casualty insurance company focused on the excess and surplus (E&S) lines market, has received $75m investment from Zimmer Financial Services.
Founded in 2018, Ategrity is focused on the excess and surplus lines market, and its offerings include commercial E&S property and casualty on a primary and excess basis. The business serves brokers and wholesale agents across the US on a contract-binding and individual brokerage account basis.
Zimmer has previously participated in a capital raise of $75m for Ategrity in 2021, enabling the company to make significant investments in its underwriting infrastructure and analytics, as well as in best-in-class service delivery for brokers and agents.
Speaking at the time, Mike Miller, Ategrity CEO and executive chairman, said, “Since launching in 2018, Ategrity has done an extraordinary job at building its presence in the marketplace. It is now time to marry our existing strengths with new investments in data and analytics that will position our company for its next phase of growth. We are excited to have raised significant capital to support this plan as we work to deliver the highest level of service to our agents and brokers.”
This investment brings the total amount invested by Zimmer in Ategrity to $300m.
Ategrity said the funding will be used to support growth in its wide-ranging primary and excess insurance lines and expansion in the middle-market space, an area of increased focus for the firm.
Also as part of its expansion into the middle-market, Ategrity recently opened a dedicated Service Delivery Center, centralizing its service for brokers and agents across the country. The new center uses data, technology, and analytics to dramatically improve speed and efficiency in the submission intake and underwriting process, as well as triage bind and post-bind processing.
Miller said, “In the four years since Ategrity’s launch, we have been able to build a business known for high-quality underwriting, innovation in products, and a fast and frictionless underwriting transaction experience.
Stuart Zimmer, chairman of Zimmer Financial Services Group, added “This new investment underscores Zimmer’s continued commitment to fund Ategrity’s annual growth and business expansion as it makes smart, strategic investments.”
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