About Somerset Re
Somerset Re is a company based in Bermuda founded in 2014 was acquired by Aquarian Holdings in June 2022.. Somerset Re has raised $306.59 million across 2 funding rounds from investors including Hannover Re and Aquarian. Somerset Re offers products and services including New Business Flow Reinsurance, Legacy Block Reinsurance, and Structured Reinsurance Solutions. Somerset Re operates in a competitive market with competitors including Supercede, Neat, Cerchia, QuanTemplate and Analyze Re, among others.
- Headquarter Bermuda
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
- Legal Name Somerset Reinsurance Ltd
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$306.59 M (USD)
in 2 rounds
-
Latest Funding Round
$276.39 M (USD), Series D
Oct 19, 2016
-
Investors
Hannover Re
& 1 more
-
Employee Count
Employee Count
-
Acquired by
Aquarian Holdings
(Jun 07, 2022)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Somerset Re
Somerset Re offers a comprehensive portfolio of products and services, including New Business Flow Reinsurance, Legacy Block Reinsurance, and Structured Reinsurance Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Reinsurance for new insurance business flows and risks.
Solutions for managing existing insurance legacy blocks.
Customized reinsurance for complex financial challenges.
Funding Insights of Somerset Re
Somerset Re has successfully raised a total of $306.59M across 2 strategic funding rounds. The most recent funding activity was a Series D round of $276.39 million completed in October 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series D — $276.4M
-
First Round
First Round
(17 Dec 2014)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2016 | Amount | Series D - Somerset Re | Valuation | Hannover Re |
|
| Dec, 2014 | Amount | Series C - Somerset Re | Valuation |
investors |
|
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Somerset Re
Somerset Re has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include Hannover Re and Aquarian. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Aquarian is recognized as a diversified global holding company.
|
Founded Year | Domain | Location | |
|
Diversified reinsurance company
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Somerset Re
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Somerset Re
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Somerset Re Comparisons
Competitors of Somerset Re
Somerset Re operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Supercede, Neat, Cerchia, QuanTemplate and Analyze Re, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Software suite for the reinsurance industry
|
|
| domain | founded_year | HQ Location |
White-label insurance solutions are provided for e-commerce businesses.
|
|
| domain | founded_year | HQ Location |
Offers escrow-based solutions for secure payment processing.
|
|
| domain | founded_year | HQ Location |
Data-driven decision making and compliance solutions are offered to reinsurance.
|
|
| domain | founded_year | HQ Location |
SaaS solutions are offered for reinsurance risk assessment and pricing.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Somerset Re
Frequently Asked Questions about Somerset Re
When was Somerset Re founded?
Somerset Re was founded in 2014.
Where is Somerset Re located?
Somerset Re is headquartered in Bermuda.
Who is the current CEO of Somerset Re?
Jeff Burt is the current CEO of Somerset Re.
Is Somerset Re a funded company?
Somerset Re is a funded company, having raised a total of $306.59M across 2 funding rounds to date. The company's 1st funding round was a Series C of $30.2M, raised on Dec 17, 2014.
What does Somerset Re do?
Somerset Re reinsurance and life insurance carrier, focusing on innovating financial technology, insurance it, insurance policy solutions, insurance software suite, and reinsurance. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets. It continues to evolve, meeting industry challenges with strategic approaches.
Who are the top competitors of Somerset Re?
Somerset Re's top competitors include Supercede, Neat and QuanTemplate.
What products or services does Somerset Re offer?
Somerset Re offers New Business Flow Reinsurance, Legacy Block Reinsurance, and Structured Reinsurance Solutions.
Who are Somerset Re's investors?
Somerset Re has 2 investors. Key investors include Hannover Re, and Aquarian.