Business Insurance
Menu
View all articles

Business Insurance: Newfront Raises $200 million

Insurtech brokerage Newfront Insurance Inc. said Tuesday it has raised $200 million, giving it a $2.2 billion valuation.

Last July, Newfront agreed to merge with San Mateo, California-based brokerage ABD Insurance and Financial Services Inc., the 40th-largest brokerage of U.S. business, with $112.5 million in 2020 brokerage revenue, according to Business Insurance’s latest ranking.

Newfront said it was profitable in 2021 and saw “significant” growth over the last year, booking more than $2 billion in premiums. The company has also added more than 200 staff in the last seven months, it said.

Newfront said it will use the financing to expand its technology platform and geographic footprint, and invest in specialized resources and experts across more industries.

Read the article here.

The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Newfront shall have no liability for the information provided. While care has been taken to produce this document, Newfront does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided.

Share this article

Keep up to date with Newfront News and Events—

Recommended reading

Year End Compliance Review:  What Are You Missing?

December 1st 2022

View all articles