More than $2.7bn was invested in InsurTech companies in Europe between 2014 and Q3 2019, with 315 transactions completed during the period.
The InsurTech landscape in Europe has been growing as insurance companies continue to embrace digital transformation, with research by UBS tipping InsurTech companies as the saviour of the insurance industry, as opposed to disruptors to be feared.
Investment grew by 4.5x between 2014 and Q3 2019, with 2017 marking the introduction $100m+ deals, with almost $600m invested in $100m+ InsurTech deals since 2017. When only sub $100m transactions are analysed, InsurTech investment in Europe in this deal size range still increased by more than 2.5 times between 2014 and Q3 2019, growing from $138.7m to $370.6m during the period.
BGL Group is a digital distributor of insurance products based in Peterborough. BGL owns brands including comparethemarket.com, LesFurets.com and online life insurer BeagleStreet.com. The InsurTech company raised $695.8m of private equity funding from Canada Pension Plan Investment Board in November 2017, in what is the largest InsurTech deal in Europe to date.
InsurTech funding in Europe increased year on year from $81.8m in 2015 to $527.0m in 2018, with investment in the first nine months of 2019 already 18.3% higher than total funding last year, setting strong expectations for the remainder of the year.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2019 FinTech Global
