Carbon Underwriting secures investment from FTV Capital

Carbon Underwriting, a UK-based company, has secured a growth equity investment from FTV Capital, a firm specializing in sector-focused growth equity. The financial details of the agreement remain undisclosed.

This investment will support Carbon's expansion in delegated authority underwriting, particularly enhancing its Graphene data and analytics platform and facilitating entry into new markets. Carbon operates its own Lloyd’s syndicate and is recognized as a leader in delegated authority underwriting.

Carbon reported an increase in its premium from £150 million ($198.3 million) to £471 million between 2023 and 2026, achieved with market-leading loss ratios. The company aims to build on its success with the support of FTV Capital, which has a strong presence in the US and the broader managing general agent market.

The investment will also enhance Carbon's AI capabilities and support its international expansion, including the development of its US operations. Carbon will gain access to FTV’s Global Partner Network and FTV Propel, aiding in product execution, market strategy, and organizational scaling.

Carbon will continue to operate independently under its current management team. FTV partner Mike Vostrizansky noted that Carbon has effectively addressed an attractive, underserved segment of the insurance market with its data-driven approach to delegated underwriting.