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Robinhood acquires credit card startup X1 for $95M

TechCrunch: M&A

The startup first made headlines for its unique model , which allows it to underwrite customers based on their income rather than their credit scores. Robinhood announced on Thursday that it was acquiring X1 , a no-fee credit card startup, for $95 million in cash. Robinhood currently earns interchange fees from its debit card. Sign up here.

Valuation 315
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5 Essential Tips for Tailoring Your Diligence Plan to Secure R&W Insurance in Manufacturing Deals

JD Supra: Mergers

It is no secret that a representations and warranties (R&W) insurer’s underwriting focus is informed by industry-specific risks and claims experience. For manufacturing businesses, aligning the buyer’s diligence plan and the insurer’s expectations is especially important given the need for advance planning and logistical coordination.

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Are You Really Ready To Hang Up Your Dancing Shoes?

H. Friedman Search

I had been given an assignment to fill an underwriter position, a rare task as most of my recruiting is opportunistic. This question came to me after I reviewed the calls I had last week. It was a very specific assignment in this case and one that I felt I was definitely challenged by. They love what they do. It gets into their blood!

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[Video] Navigating Reps and Warranties Insurance in 2024: Smooth Sailing or Rough Seas Ahead?

JD Supra: Mergers

From the dynamics of larger deals to the increasing prevalence of minority investments and earn-outs, the video sheds light on a diverse range of deals that have captured the attention of underwriters as well as the outlook for premium and retention rates. By: Woodruff Sawyer

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Bishop Street Underwriters Acquires Ethos Specialty’s Transactional Liability Unit, Adding High-Quality Capacity to its Rapidly Expanding Platform

Global Newswire by Notified: M&A

11, 2024 (GLOBE NEWSWIRE) -- Bishop Street Underwriters (“Bishop Street”), a RedBird Capital Partners portfolio company, today announced that it has acquired Ethos Specialty’s Transactional Liability unit. NEW YORK, Nov.

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R&W Insurance: Claims Still Common With Established Targets and Sophisticated Buyers

Deal Lawyers

“With 5,089 policies placed, 1,040 claims received, and 97 payments made,” Euclid believes “this is the largest data set used in an RWI claims study produced by an underwriter to date.” Euclid Transactional recently released the results of its first study of R&W claims. ” […]

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Exchange Underwriters Joins World Insurance Associates

Global Newswire by Notified: M&A

13, 2023 (GLOBE NEWSWIRE) -- World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Exchange Underwriters, Inc. Iselin, NJ, Dec. of Washington, PA on December 1, 2023.