Bought By Many to enter new markets after largest UK insurtech raise of $98m

Steven Mendel, Bought By Many

Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.

BBM plans to use the money to grow in its existing markets the UK and Sweden as well as enter new geographies and bolster its technology. The business insures over 200,000 pets in the UK, an increase

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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