SiriusPoint drops MGA deal with Mosaic
Bermuda-based SiriusPoint has invested in insurtech Joyn Insurance, which offers E&S coverage for property, general liability and excess for companies.
Joyn Insurance has exceeded its fundraising target with a $17.7 million Series A funding round led by OMERS Ventures with participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors.
Launched in July 2021, Joyn Insurance integrates insurance, data and technology expertise in the E&S space, providing a faster, more accurate and more transparent experience.
"We built this company to remove the pain points and operational inefficiencies that have frustrated brokers and underwriters for as long as we can remember, and we are proud to be delivering on this bold mission," said Joyn CEO Seraina Macia.
"This funding will allow us to further build and expand so we can continue providing a best-in-class insurance experience in the market. "Many brokers are already seeing that we can deliver on what we were built to do, and with our broad E&S appetite for small to mid-sized property and general liability risks, we look forward to adding more trading partner relationships in the near future."
Representatives from OMERS Ventures, ManchesterStory and Avanta Ventures will also be joining the Board of Directors of Joyn Insurance.
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