Zimmer is backing Ategrity with a $75 million investment

by James · September 7, 2022

Zimmer is backing Ategrity with a million investment

Ategrity Specialty Insurance Company, a specialty property and casualty insurer focused on the lines of excess and surplus (E&S) market, has received a $75 million investment from Zimmer Financial Services.

Founded in 2018, Ategrity is focused on the excess and excess lines market, and its offerings include commercial E&S property and casualty on a primary and excess basis. The business serves brokers and wholesale agents throughout the United States on a contractual and individual broker account basis.

Zimmer previously participated in a $75 million capital raising for Ategrity in 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.

Mike Miller, CEO and Executive Chairman of Ategrity, said at the time: “Since launching in 2018, Ategrity has done an extraordinary job of building its market presence. Now is the time to combine our existing strengths with new investments in data and analytics that will position our company for the next phase of growth. We are pleased to have raised significant capital to support this plan as we work to deliver the highest level of service to our agents and brokers.”

This investment brings the total amount Zimmer has invested in Ategrity to $300 million.

Ategrity said the funding will be used to support growth in its comprehensive primary and excess insurance lines and expansion in the middle market, an area of increased focus for the firm.

Also as part of its expansion into the middle market, Ategrity recently opened a dedicated service delivery center, centralizing service for brokers and agents across the country. The new center uses data, technology and analytics to dramatically improve the speed and efficiency of the submission and underwriting process, as well as triage binding and post-binding processing.

Miller said: “In the four years since Ategrity’s launch, we have been able to build a business known for high-quality warranties, product innovation and a fast and frictionless warranty transaction experience.

Stuart Zimmer, chairman of Zimmer Financial Services Group, added “This new investment underscores Zimmer’s continued commitment to funding Ategrity’s annual growth and business expansion as it makes smart, strategic investments.”