Matic adds Policygenius’ property and casualty insurance portfolio
Adds nearly 30,000 home and auto policies to Matic’s carrier marketplace of over 70 insurers, alongside a minority investment from Primus Capital.
Takeaways
- Policygenius’ property and casualty insurance portfolio is a portfolio of property and casualty insurance policies.
- Matic is acquiring Policygenius’ property and casualty insurance portfolio with backing from Primus Capital.
- The business serves personal lines insurance for homeowners and auto owners.
Matic, an embedded insurance platform backed by Primus Capital, has acquired Policygenius’ property and casualty insurance portfolio, adding nearly 30,000 home and auto policies to its carrier marketplace of more than 70 insurers.
The acquired book consists of personal lines policies that sit outside Policygenius’ primary life insurance focus and will now gain access to Matic’s customer service team.
Primus Capital made a minority investment in Matic alongside the acquisition to support continued platform development, expansion of embedded partnerships, and pursuit of inorganic growth opportunities.
“Ben and the Matic team have built an impressive platform that is addressing a critical need across the housing and insurance markets,” said Ron Hess, Managing Director at Primus Capital.
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