New AXA XL CUO appointment for P&C, $2bn valuation for Ethos, Series C funding for Kin
Anish Jadav has been appointed Chief Underwriting Officer for AXA XL P&C in the UK, life insurtech Ethos Technologies Inc. has a more than $2bn (£1.4bn) valuation after a $200m funding round, and home insurtech Kin has raised $63.9m in Series C funding.

Anish Jadav is the new AXA XL Chief Underwriting Officer for UK P&C 

AXA XL have announced that Anish Jadav will be in charge of P&C underwriting for the firm’s UK operation from July.

Jadav has been CUO of Zurich Insurance Ireland since 2018. 

Luis Prato, CUO UK & Lloyds at AXA XL, has said, “I’m delighted that Anish will be joining the retail P&C team at AXA XL. As we continue to bring our value proposition to life, his extensive underwriting and management experience will be a tremendous asset in supporting clients to manage the risks they face today and in the future.”

Source: https://www.reinsurancene.ws/axa-xl-hires-anish-jadav-as-retail-pc-cuo-for-uk-lloyds/ 

Insurtech Ethos valued at $2bn

Following a $200m (£140m) funding round, led by General Catalyst alongside Sequoia Capital, Accel and GV, life insurtech Ethos Technologies Inc. now has a valuation of over $2bn (£1.4bn). 

Ethos aims to make life insurance policies more transparent, affordable and accessible – they emphasise a commitment to same-day policies and use questionnaires rather than medical tests.

The fundraising has been watched closely by the celebrity investors, with Jay-Z’s Roc Nation supporting the round alongside investment firms working on behalf of actors Robert Downey Jr. and Will Smith. 

While Ethos CEO Peter Colis has stated that the firm is not expected to IPO soon, they are set for $100m (£70m) this year. 

Source: https://www.bloomberg.com/news/articles/2021-05-11/life-insurance-startup-ethos-valued-at-more-than-2-billion 

Kin secures Series C funding 

Home insurance disruptor Kin have announced a $63.9m (£45.2m) Series C funding round. 

Kin has set out to disrupt the home insurance market by digitising the home insurance customer experience and leveraging aerial imagery and climate data to more accurately price areas at risk from floods and other extreme weather events. 

The round was led by Senator Investment Group and Hudson Structured Capital Management, alongside Allegis NL Capital, Alpha Edison and the University of Chicago’s startup investment programme.

Source: https://news.crunchbase.com/news/exclusive-home-insurance-startup-kin-raises-series-c/ 

Matt Kenyon is a content producer at Insurtech Insights.

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