Announcements
Beat Capital Partners launched proRISE Insurance Services
Beat Capital Partners (“Beat”), a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc. (“Ambac”) (NYSE: AMBC), and Doug Karpp, former executive at Hiscox and AIG with over two decades of industry experience, announce proRISE Insurance Services (“proRISE’”) to launch on Oct. 1. proRISE specializes in management and professional liability insurance with a focus on small and medium-sized enterprises (SMEs).
Beat joins Ambac Financial Group
Beat Capital Partners Ltd. (“Beat”), is pleased to announce that Ambac Financial Group, Inc. (“Ambac”) (NYSE: AMBC) will be acquiring a controlling stake of the company in a definitive agreement for approximately $282 million, up to $40 million of which will be paid in Ambac common stock. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval.
Podcast with John Cavanagh: Co-founder Beat Capital on supporting entrepreneurial underwriting at Lloyd’s
Wide-ranging discussion includes (1) the importance of Lloyd's in the global insurance market (2) balance between using analytics and underwriting intuition (3) role of the new "Syndicate in a box" at Lloyd's and other industry topics
Paraline UK and Beat Capital Partners announce merger
The £110 million Paraline Syndicate 4242 at Lloyd’s, which is managed by third-party managing agency Asta, will soon be known as Beat Syndicate 4242.