The insurer’s Q1 revenue increased by 8% to $2.41bn (£1.77bn), compared to $2.22bn in the same period last year.
According to the company, the funding will support broader specialty product offerings through partnerships with wholesale brokers.
The new approval allows the company to provide localised facultative and treaty reinsurance services.
AI tools are gaining traction, but integration remains a barrier and a key opportunity for insurers.
