MGU Carbon Underwriting attracts strategic investment to fuel growth

Specialist managing general underwriter (MGU)  Carbon Underwriting has secured a strategic investment from a UK private equity firm to support its expansion in the London Market.

Apiary Capital has completed a significant strategic investment in Carbon. The investment will support Carbon’s management in maintaining its growth momentum at Lloyd’s for delegated underwriting authority business as it looks to “transform the international coverholder market”.

Carbon plans to use the investment to further develop its proprietary technology platform, Graphene.

Nick Tye (pictured), CEO of Carbon, said: “We are delighted to welcome Apiary’s strategic investment in Carbon Underwriting - this is a pivotal moment that we are confident will help accelerate our transformative impact on the market as we drive towards a data-driven Coverholder future. This investment will support our expansion including the development of our underwriting platform and proprietary technology platform, Graphene, as well as investing in our people.”

“We understand the significance of embracing modern technology to enhance our offering, and our in-house technology ecosystem, Graphene, has been instrumental in achieving this vision.”

He added: “We are poised to shape the future of underwriting, delivering unmatched value to our partners and setting new standards in the industry. The future is bright, and we are excited to embark on this next phase in our journey of transformation and growth.”

Jeniv Shah, Partner at Apiary Capital, commented: “We are absolutely thrilled to partner with Carbon Co-Founders Nick Tye, Jacqui Ferrier and Ben Laidlaw, and the rest of the Carbon team. This is exactly the calibre of business that Apiary seeks to invest in: a Founder-owned business, with a differentiated, technology-led proposition, and an opportunity to capture transformational growth in a large, underserved market.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.