Once the deal closes, Western Select will be renamed Pie Casualty Insurance Company. Neither side disclosed financial terms.
“Since Pie was founded in 2017, our goal has been to offer the entire small business insurance experience to our customers as a full stack insurance carrier,” said John Swigart, co-founder and CEO of Pie. “Receiving regulatory approval to acquire Western Select Insurance Company is a key milestone on the path for Pie to write our own policies, and to bring our seamless commercial insurance experience to even more small businesses across the country.”
Pie has raised more than $300 million in venture funding and commitments for future funding since its launch, including an $118 million round in March 2021.
Source: PR Newswire