Arch Insurance, a global risk solutions company, acquired Thimble, a New York-based provider of an insurtech platform for small business customers and agents.
The amount of the deal was not disclosed.
With the acquisition, Arch will expand its suite of digital solutions for small business customers and brokers.
Led by Jay Bregman, Thimble helps small businesses acquire general and professional liability, business equipment, commercial property and other types of insurance coverage via a proprietary digital platform. Since May 2018, the company has delivered more than 170,000 policies to small businesses across the United States. Thimble works with a variety of carriers including Markel and Employers. The team will continue growing the business with its existing carrier partners and offer new solutions through Arch.
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. Business in the U.S. is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property Casualty Insurance Company and Arch Indemnity Insurance Company. Business in Canada is written by Arch Insurance Canada Ltd.
Arch Capital Group Ltd. (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $15.6 billion in capital at Dec. 31, 2022. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
FinSMEs
12/04/2023