Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce that its marketplace has transacted $175M of reinsurance premium in 2021 and has achieved exciting marketplace revenue growth of over 400% year over year. Since 2018, over $275M of reinsurance premium has been transacted on the Tremor marketplace. While the market has continued to harden overall and traditional reinsurance placements struggle, Tremor has had its best quarter yet delivering required capacity for challenging placements well ahead of renewal dates with record numbers of participating reinsurers.

Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, furthers its rapid adoption with tremendous growth at the venerable Lloyd’s of London. Today, Tremor has crossed the two-thirds threshold whereby 67% of Lloyd’s stamp capacity is now directly available to insurance companies seeking reinsurance protection via the Tremor marketplace. More specifically, 33 Lloyd’s Syndicates representing more than 70% of Lloyd’s Managing Agents have entered into agreements to offer coverage directly on the Tremor marketplace, representing over $33 billion of capacity.

Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, has surpassed an important $500 billion in reinsurance capital milestone this month signing its 115th reinsurer to its marketplace. Tremor now provides insurance companies direct access to more than 95% of the world’s reinsurance capacity across traditional reinsurers, Lloyd’s syndicates and ILS funds. In addition, Tremor recently announced that it has completed agreements with every major reinsurance broker in the world.

Expansive reinsurance marketplace Tremor has announced that it has secured agreements with 8 major reinsurance brokers representing over 95% of reinsurance placements worldwide. When combined with the 110 reinsurance companies, ILS funds and Lloyd’s Syndicates active on Tremor, the company has solidified its place at the center of the modernization of reinsurance risk transfer worldwide. “We have said from the beginning that Tremor supercharges risk transfer with a new market model that benefits all parties.

Tremor and Root, Inc. (NASDAQ: ROOT), the parent company of the Root Insurance family of insurance companies, today announced that Root has successfully placed its June property catastrophe program with Tremor Panorama. As the leading online marketplace in reinsurance, Tremor enhances the placement process by using modern technology to help provide a more efficient and data-rich experience. “When we got the call that the Root team wanted to place their entire property catastrophe program with us, we were thrilled.

Insurance companies utilizing Tremor Panorama, the leading online marketplace for reinsurance, have sought over $700M in capacity from reinsurers in May alone. Beyond May, Tremor has booked more than $1B in new placement commitments while doubling its insurance company client base and growing its network to 105 reinsurers, a 20% growth in total capital. So far this year, the company has entered into new agreements with a top-10 U.S. insurance company, a top-3 global property & casualty insurance company, several innovative insurtech carriers and several specialty insurance carriers to place reinsurance programs on its platform.

Tremor Technologies is thriving in the midst of a hardening reinsurance market, and heads into 2021 with broadening momentum. Proving that Tremor’s tech is truly market agnostic The value of Tremor’s reinsurance risk transfer technology has now been field-tested in soft and hard market conditions, bringing efficiency, transparency, and speed to the reinsurance placement process. In soft markets, Tremor’s technology gives cedants the ability to easily expand panels to enhance competition, and in hard markets Tremor quickly provides valuable price discovery when it is otherwise difficult to gather because market participants are holding their cards very close.

For only the second time in recorded history, five named tropical cyclones are churning in the Atlantic at the same time, with Hurricane Paulette impacting Bermuda yesterday. “Tremor stands ready to assist the industry with live risk transfer during significant hurricane events. For re/insurers and ILS funds looking to buy protection discreetly, the Tremor marketplace is the ideal venue. We spun up a market for Hurricane Laura and we commit to do so for all hurricanes in the 2020 season, one of the most active seasons ever,” said Sean Bourgeois, Tremor’s Founder & CEO.

Today Tremor announced additional financing of $4M, which brings the company’s total funds raised to date to $15M. Anthemis Group, Berkley Ventures and Markel Digital Investments participated in the round. “We are humbled by the support from our investors who are also true partners to the company. The current funding will allow Tremor to further develop capabilities that we will be announcing over the coming months and gives us ample runway to outlast the slow adoption curve typical of traditional industries.