A subsidiary of Canopius Group, the global specialty (re)insurer with an operation in Bermuda, has entered into a strategic partnership with Boost Insurance, the insurance infrastructure platform.

Canopius US Insurance Holdings Inc is to provide long-term risk capacity behind Boost-powered insurance programmes, and has also made a strategic investment in Boost to fuel the expansion of its proprietary technology platform and growing partner base.

Boost is a full-stack digital MGA platform that provides compliance, capital, and technology infrastructure to product and distribution-focused insurtechs, MGAs, and embedded insurance partners.

“We see enormous potential in the turnkey infrastructure that Boost has built,” said Lisa Davis, Canopius CEO, US and Bermuda.

“By lowering the barriers to entry for both innovative products and new market entrants, Boost has created an opportunity for Canopius to unlock new technology-enabled distribution channels and premium diversification opportunities.

“Their team values everything that always matters in insurance – underwriting, compliance, and capital efficiency – while still being committed to powering new and potentially disruptive concepts that can help move the industry forward.”

Alex Maffeo, Boost’s CEO and founder, said: “Having long-term support from seasoned reinsurers like Canopius enables Boost to provide a rock-solid platform that our partners can trust as they scale their business.”

Canopius has underwriting operations in Bermuda, Australia, Singapore, the UK and US. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), Canopius US Insurance Inc, a US surplus lines insurer, and Canopius Reinsurance Ltd, a Bermuda based Class 4 reinsurer.