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August 3, 2020

Cohen & Company rolls out acquisition vehicle to tap reinsurance opportunities

By Verdict Staff

Cohen & Company, a financial services company specialising in fixed income markets, has launched a special purpose acquisition company (SPAC)INSU Acquisition Corp. II.

The move comes as the company is looking to raise around $207m to tap investment opportunities in reinsurance and insurtech segments, reported Reinsurance News.

The company aims to sell 20.125 million shares with each share valued at $10, with a maximum offering of $201.25m following the accounting of over-allotments.

Twelve Capital former managing partner John Butler will head the new SPAC company while Cohen & Co-founder Daniel Cohen will become the chairman.

Last year, Cohen & Company, in collaboration with Insurance Acquisition Corp, launched a SPAC to acquire and merge with other insurance firms.

Earlier this month, the company’s investment advisory subsidiary Cohen & Company Financial (Europe) Limited (CCFEL)completed a host of closed-end investment vehicles with combined commitments of more than €375m.

In June,  Insurance Acquisition Corp entered into a definitive merger agreement with automotive e-commerce firm Shift Technologies.

Founded in 1999, Cohen & Company specialises in segments such as capital markets, asset management, and principal investing.

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