Blockchain Insurance Consortium B3i Quietly Raises $16 Million
Summary
The company did not respond to a request for comment by press time, but it was known to be seeking funds (some reports have stated it could be targeting as much as $200 million). The firm has also shuffled its board, adding new executives from existing consortium members for the most part, according to commercial records. The only newly added board member who did not come from an existing B3i shareholder was Daniel Quermia, CFO and director at Spanish insurance company MAPFRE RE. B3i’s founding shareholders include Aegon, Allianz and Munich Re, as well as Swiss Re, Tokio Marine, XL Catlin and Zurich. In March 2018, it made the leap from a consortium to an independent company, in order to commercialize some of the solutions it had developed.
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