Insurance wholesaler ProWriters, a digital distributor which has made a push in cyber insurance, is exploring a potential sale of its business, reports Insurance Insider US. Insurance M&A specialist Dowling Hales is advising ProWriters, according to the article.
ProWriters offers several categories of cyber insurance, including E&O, CGL & D&O. It generates revenue of app. $4 million according to the Grata business database, but revenue of private companies is difficult to estimate and other sources indicate ProWriters’ topline may reach $19 million
As the cyber insurance industry grows in size and complexity, we expect more and larger M&A this year.
Other News: Global Cyber Insurance Market Set to Reach USD 75.61 Billion by 2032(Opens in a new browser tab).