New York Digital Investment Group (NYDIG) has raised $100 million of additional growth capital from strategic partners including Starr Insurance, Liberty Mutual Insurance, and other P&C insurers.<\/p>\n
These new partners are joining other life insurance and annuity-focused strategic partners that the firm already has, including New York Life and MassMutual.<\/p>\n
This enormous amount of capital raised reflects the growth of the investment company. Recently, NYDIG revealed that insurance firms now hold more than $1 billion worth of bitcoin investment on its platform. This feat was accomplished following the $200 million growth capital fund that was raised from notable investors, including its past business partners such as MassMutual<\/a> and Stone Ridge<\/a>.<\/p>\n The Bitcoin investment solutions provider also announced that Mike Sapnar, CEO of TransRe, would take the position of Global Head of Insurance Solutions, while Matt Carey, former co-founder and CEO of Blueprint Income, will work as NYDIG’s U.S. Head of Insurance Solutions.<\/p>\n Sapnar and Carey will work on accelerating bitcoin-driven innovation in the global property and casualty (P&C) industry and also bitcoin-powered solutions for U.S.-based life insurance and annuity providers, respectively.<\/p>\n Hank Greenberg, chairman, and CEO of Starr, a participant in the partnership, expressed his joy at the new deal and his excitement at the contributions Mike Sapnar would bring following his entry into the NYDIG.<\/p>\n With respect to the new additions into NYDIG, Robert Gutmann, co-founder, and CEO of the company, said, “The global property & casualty (P&C) industry is huge, paying out over $1 trillion in claims annually. I am excited to welcome Starr and Liberty Mutual to NYDIG as part of our expansion of bitcoin into new areas of insurance.”<\/p>\n He continued, “The team and I are also thrilled to welcome Mike and Matt to NYDIG. Mike has been a close collaborator with Stone Ridge since 2014, primarily with our catastrophic reinsurance asset management franchise and our non-catastrophe reinsurer, Longtail Re. Mike’s more than 30 years of experience will help NYDIG lead the way in bringing bitcoin to the insurance industry.”<\/p>\n","protected":false},"excerpt":{"rendered":" New York Digital Investment Group (NYDIG) has raised $100 million of additional growth capital from strategic partners including Starr Insurance, […]<\/p>\n","protected":false},"author":24,"featured_media":13079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1817,1810,5],"tags":[54,793],"ppma_author":[1761],"class_list":["post-22826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-startup-news","category-crypto-news","tag-bitcoin","tag-crypto-startup-funding"],"acf":[],"authors":[{"term_id":1761,"user_id":24,"is_guest":0,"slug":"michelleabigail","display_name":"Abigail Michelle","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/b3ef78982081d02575da47debb0e02f8?s=96&r=g","first_name":"Abigail","twitter":"https:\/\/twitter.com\/michell_gail","instagram":"","linkedin":"","user_url":"","last_name":"Michelle","facebook":"","description":"Michelle Abigail is an optimist who believes nothing is impossible even if it means treading on a foreign path. This disposition has moved her to join the crypto world with the hope of contributing her bit to the ecosystem."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/22826"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=22826"}],"version-history":[{"count":1,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/22826\/revisions"}],"predecessor-version":[{"id":313116,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/22826\/revisions\/313116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/13079"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=22826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=22826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=22826"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=22826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}