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Great Hill backs Aurenity, an excess and surplus MGA
The deal will help Aurenity hire underwriters, launch specialty E&S programs, and invest in automation and AI underwriting systems.
Great Hill Partners has made a strategic investment in Aurenity, a West Hartford, Connecticut-based excess and surplus managing general agent, as covered by Coverager.
Aurenity, founded in 2022, said it runs six E&S programs covering areas including primary, lead and excess casualty, public entity and religious risks, and property. Financial terms were not disclosed, but Aurenity reported $11 million in prior seed-stage funding, and Agman, the founding investor, along with the management team, will retain significant equity stakes.
Under the investment, Great Hill Managing Directors Matt Vettel and Nick Cayer, plus Principal Bob Anderson, will join Aurenity’s board. The funding is intended to support underwriter recruitment, new specialty program launches, and additional investment in automation and AI-enabled underwriting systems, with underwriters using Aurenity’s “Augment” risk models to support underwriting decisions.
Aurenity also plans to launch its initial excess casualty product in the third quarter and is targeting the Excess and Surplus market following a $10 million financing, Coverager reported.