Vesttoo eyes rise in demand driven by capacity crunch amid hardening


Vesttoo eyes rise in demand driven by capacity crunch amid hardening

Vesttoo, the insurtech that matches capital with risks using ILS structures, has seen a sharp uplift in demand as insurers and reinsurers grapple with a capacity crunch and hardening rates, the company’s newly appointed head of insurance markets, UK & Europe, told Intelligent Insurer.

Anthony Southern joined the company, which was recently valued at $1 billion at its latest Series C funding of $80 million, from another insurtech Instanda where he was managing director, EMEA P&C. Before that, he spent some five years at Arch Reinsurance. He has also worked for Advent Underwriting, Canopius and Hiscox.

Southern said that many parts of the market remain uncertain at the moment and there are areas where capital is in short supply. This has led to increasing interest in its products.

“From our insurer clients we are seeing continuous high demand for quota share as well as aggregate stop loss transactions in the non-catastrophe space,” he said. “The hardening reinsurance market has been exacerbated post Hurricane Ian, and Vesttoo is able to connect new capacity to the insurance market when it has become harder to find.

Vesttoo, Anthony Southern, Insurtech, Hardening, Rates, Capacity, Reinsurance, Insurance, ILS, Europe, UK, US

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