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2021-04-29T08:46:00+01:00
As fundraising activity in the global InsurTech sector continues to rebound from its brief COVID-19 related slowdown a year ago, global investment in the sector reached a new quarterly high of US$2.55 billion during the first quarter of 2021. The number of mega-rounds reached eight, more than any other three-month period, according to the new Quarterly InsurTech Briefing from Willis Towers Watson.
Total funding during the quarter grew by 180% when compared with Q1 2020, which suffered a deep decline due to fears surrounding COVID-19. The latest total grew by 22% relative to more comparable Q4 2020, while the number of discrete deals soared 42% higher than during the previous quarter. Investment was driven primarily by P&C focused companies, which represented 69% of deal share.