Cyber insurance MGA Corvus acquires Wingman Insurance
Cyber insurance MGA Corvus Insurance acquired Wingman Insurance , a Cambridge-based provider of insurance products for tech and cyber sector companies. Wingman will continue operating as an independent brand .
“The addition of Wingman into the Corvus fold represents a key milestone in the growth of our company. By expanding our footprint in the small and midsize business market and creating the ability to white label our solutions as we further explore multiple product lines, this addition creates new opportunities for Corvus as we launch an acquisition strategy and continue organic growth.” – Phil Edmundson, founder and CEO of Corvus Insurance.
Bottom Line: Cyber insurance has been getting a lot of attention this year with At-Bay announcing a $185 million Series D funding round at a valuation of $1.35 billion (products are underwritten by HSB Specialty Insurance) and Coalition announcing a $175 million Series D funding round at a valuation of $1.75 billion (products are underwritten by Swiss Re and Argo). Corvus, on the other hand, recently secured a $100 Series C funding round (followed by a $15 million extension) at a valuation of $750 million (products are underwritten by Hudson Insurance Group).