Allianz X co-leads $200m round in AI specialty underwriter Ledgebrook
Allianz Re has also agreed to enter a multi-year reinsurance agreement with the US firm, which writes only through wholesale brokers.
Allianz X and Rockefeller Capital Management have co-led a $200m primary equity round in Ledgebrook, a US specialty insurer that uses AI in underwriting, the company said on 7 October.
Allianz Re has also agreed to enter a multi-year reinsurance agreement with the firm.
Ledgebrook writes excess and surplus lines general liability, professional and specialty cover for mid-sized businesses, through wholesale brokers only, on its Blackbird platform. It said it was on track to pass $1bn of cumulative premium since it began writing in 2023.
The company has about 300 staff, including about 80 underwriters and 50 engineers, and in August 2026 AM Best gave its carrier, Ledgebrook Specialty Insurance Company, a Financial Strength Rating of A-.
Related coverage: Lexcel launches AI system that applies specialty underwriters' rules.
Sources
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