Ategrity Specialty Insurance Company Announces Additional $75 Million Growth Investment from Zimmer Financial Services
SCOTTSDALE, Ariz. & NEW YORK--(BUSINESS WIRE)--Sep 6, 2022--
Ategrity Specialty Insurance Company, a specialty property & casualty insurance company focused on the excess and surplus (“E&S”) lines market, today announced an additional $75 million growth investment from Zimmer Financial Services Group. This new capital round brings the total Zimmer investment in the company to $300 million. The funding will be deployed to support growth in Ategrity’s wide-ranging primary and excess insurance lines and expansion in the middle-market space, an area of increased focus for the firm.
Zimmer had previously led a capital raise of $75 million for Ategrity in September 2021, enabling the company to make significant investments in its underwriting infrastructure and analytics, as well as in best-in-class service delivery for brokers and agents.
“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,” said Mike Miller, Executive Chairman and Chief Executive Officer.
Stuart Zimmer, Chairman of Zimmer Financial Services Group, said: “This new investment underscores Zimmer’s continued commitment to fund Ategrity’s annual growth and business expansion as it makes smart, strategic investments.”
As part of its expansion into the middle-market, Ategrity recently opened a dedicated Service Delivery Center, centralizing its service for brokers and agents across the country. The new center uses data, technology, and analytics to dramatically improve speed and efficiency in the submission intake and underwriting process, as well as triage bind and post-bind processing.
Ategrity launched in September 2018 with funding from Zimmer Financial Services Group, the holding company for Zimmer’s insurance businesses and its multibillion-dollar asset management company. Ategrity has a Financial Strength Rating of A- (Excellent) from A.M. Best.
Ategrity partners with brokers and wholesale agents throughout the U.S. to deliver risk and insurance solutions for small to medium-sized businesses. The company is led by recognized industry leaders from the insurance and technology sectors, bringing together many decades of experience in the E&S market and advanced data analytics. With underwriting teams across the country, Ategrity helps businesses be well-prepared and protected for facing the complexity of risk today. For more information, visit www.ategrity.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220906005727/en/
CONTACT: Jonathan Wallace
KEYWORD: ARIZONA NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES
SOURCE: Ategrity Specialty Insurance Company
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PUB: 09/06/2022 10:00 AM/DISC: 09/06/2022 10:02 AM