SiriusPoint backs ‘disruptive’ crypto insurtech Lukka that hits $1.3bn valuation

Global specialty re/insurer  SiriusPoint has continued its financing of “innovative and disruptive” insurtechs by investing in Lukka, an institutional crypto data and software provider.

The investment takes the number of partnerships and investments in SiriusPoint’s growing portfolio to over 20.

Lukka, which is now valued at over $1.3 billion, has just raised $110 million in its latest round of financing. SiriusPoint is one of the lead investors.

According to the re/insurer, the insurtech is the only crypto asset data and software provider that meets industry security standards, such as Type II AICPA’s System and Organisation Controls (SOC),.

SiriusPoint believes the investment will allow the company to expand its offering to institutional investors who are increasing their interest in, and exposure to, this nascent asset class.

“ SiriusPoint is on a mission to invest in truly innovative and disruptive companies and support entrepreneurial startups that will change the narrative of the insurance and reinsurance markets,” said Ming Zhang (pictured), chief investment officer at SiriusPoint.

He added: “The crypto and blockchain industries are constantly maturing, rapidly being adopted as a part of the mainstream economy by investors, and opening new doors. Lukka’s proven institutional grade data and software products will allow businesses to deliver crypto solutions and embrace digital assets, and we at SiriusPoint look forward to partnering with Lukka to bring first-rate crypto capabilities to continued innovations in insurance and reinsurance solutions.”

Robert Materazzi, chief executive officer of Lukka, said: “We couldn’t be more excited to partner with SiruisPoint as the adoption of crypto assets expands to more industries.

“ SiruisPoint’s commitment to innovation in the insurance industry combined with their global footprint makes them an obvious partner to Lukka.”

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