Acrisure, a global fintech leader, today announces it has completed the acquisition of Vave, a technology-driven property MGA, from Canopius Group.

Vave is now part of Acrisure Underwriting, a platform of 12 MGAs operating in the U.S. insurance markets. Vave continues to operate under its brand name through the leadership of its founding management team, led by Marek Shafer. Canopius Group continues to be one of Vave’s capacity providers under a multi-year agreement.

Vave combines science, data, and precision underwriting to offer instantly bindable quotes to distribution partners on catastrophe-exposed E&S property risk in the U.S. Through its application programming interfaces (APIs), Vave delivers more than 10,000 quotes per day, including commercial, homeowners, flood, and earthquake coverage. Vave recently launched a California-specific home and commercial property product and expects to launch a commercial package product focused on cat-exposed areas soon.

Matt Schweinzger, President of North America Insurance at Acrisure, said: “We look forward to working with the Vave team starting today to continue expanding their technology-enabled products to serve families and small businesses in disaster-prone areas. Vave’s recent expansion into California property risks directly benefits the people of California and Vave’s network of distribution partners.”

Marek Shafer, CEO of Vave, said: “We are grateful to Canopius for sponsoring our team from the idea stage through to a successful sale of the business. Today we begin a new chapter. Under Acrisure’s ownership, we expect to continue expanding our capacity relationships, product offerings, and technology capabilities, starting with our new product for California property owners.”

Vave’s team is based in London and the United States. Vave’s products are distributed exclusively via a network of wholesalers in the United States. For more information, visit vavemga.com.