Ategrity Specialty Insurance Company, a specialty property and casualty insurance company, has announced a further $75m investment from Zimmer Financial Services Group.
With this move, the total Zimmer investment in Ategrity has touched $300m.
This funding will be used by Ategrity to support of its primary and excess insurance lines and expand in the middle-market space.
In September 2021, Zimmer led a capital raise of $75m for Ategrity, which enabled it to make investments in its underwriting infrastructure and analytics, besides providing in service delivery for brokers and agents.
Ategrity Specialty Insurance Company executive chairman and CEO Mike 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.”
Zimmer Financial Services Group chairman Stuart Zimmer said: “This new investment underscores Zimmer’s continued commitment to fund Ategrity’s annual growth and business expansion as it makes smart, strategic investments.”
Ategrity recently opened a Service Delivery Center (SDC) as part of its plan to expand into the middle-market.
The SDC is aimed at centralising its service for brokers and agents across the US.
The new centre makes use of data, technology, and analytics to boost speed and efficiency in the submission intake and underwriting process, besides for triage bind and post-bind processing.
Ategrity was launched in September 2018 with funding from Zimmer Financial Services Group.
Zimmer Financial Services Group is the holding company for Zimmer’s insurance businesses and its asset management company.