Digital Partners was founded in 2016 by Andrew Rear and Mark Dennis to enable one of the world’s largest reinsurers, Munich Re, to participate in the insurtech wave. The thesis was that:
- As a global reinsurer, Munich Re needed to understand and participate in insurtech
- The best economic returns in VC-funded companies are made by investors
- To earn a seat at the investment table, Munich Re needed to offer something uniquely valuable
And so Digital Partners was born: a vehicle to build underwriting and product partnerships with the leading insurtech MGAs, offering simple, technology-enabled, and fast access to Munich Re’s balance sheet and underwriting expertise, in return for the chance to invest in the companies we expected to become unicorns.
Over the course of 4 years, Digital Partners built an insurance business in the US, Germany and UK with $500m gross written premium, and an investment portfolio of $400m. As at September 2021, the portfolio is less than 15% exited, and is now worth close to $2.5bn.
Invested at $120m
2021 Series F: $4bn
Invested at $36m
2021 Series D: $2.4bn
Invested at $315m
2021 De-Spac: $5bn
Invested at $5m
2021 Series A: $85m
Valuations not disclosed
Invested at $55m
2021 Series C: $700m
Invested at $4m
2021 round: $26m
Invested at $400m
2021 Series D: $1.1bn
Valuations not disclosed
Invested at $300m
2021 sold to Travelers (price not disclosed)
Invested at $20m
2019 sold to Aviva
(price not disclosed)
(Sources: Pitchbook)