b'MERGERS & ACQUISITIONS| SPAC sInsurtech companies, including those focused onInsurance service providers, including data and using technology to maximize savings andtechnology providers, asset managers, claims efficiency, launch growth opportunities andadjustors, claims or cost management, disaster innovate new risk selection processes. recovery service providers, policy administration and premium payment facilitation, and business Oxbridge Acquisition Corp. processing; andIn August 2021, Oxbridge Acquisition Corp. completed a $115 million (inclusive of the over- Insurance distribution companies, including allotment option) IPO selling units consisting of oneinsurance brokers, wholesalers, retail agents, share of Class A common stock and one-half of amanaging general agencies, managing general warrant. The SPAC was sponsored by Oxbridge Re,underwriters or dually-licensed distribution a publicly listed reinsurance holding company,companies, such as registered investment based in the Cayman Islands that providesadvisors, mortgage brokers or other entities reinsurance primarily to Florida-based insurerswhere insurance distribution is a core ancillary through its licensed reinsurance subsidiaries,component of their business.Oxbridge Reinsurance Limited and Oxbridge Re NS.Business CombinationsAccording to the SPACs IPO prospectus, the SPAC intends to concentrate its efforts on identifyingThe following five insurance-related de-SPACing companies in the insurtech and blockchaintransactions were announced in 2021.technology sectors, with a particular emphasis onReinvent Technology Partners Z/Hippo Enterprises Inc.regulated insurance or reinsurance companies,On March 4, 2021, Reinvent Technology Partners Z distributors or disruptive technology and insurance(Reinvent Z), which went public in November service providers that focus on specialty lines of2020, agreed to combine with Hippo Enterprises business or that target product or customer nichesInc. (Hippo), an Israeli-founded, California-where a differentiated service offering and thebased vertically integrated, end-to-end home advent of new technologies have created, or areprotection and insurance platform. Hippo expected to create, a sustainable competitiveoperates a licensed P&C agent, Hippo Insurance advantage. The prospectus defined the insuranceServices, that facilitates customers buying policies sector (or insurance-related services andonline, through an agent, or with one of the companies) to include, but not be limited to: companys growing number of partners. Hippo Insurtech companies, including those companiesalso operates a proactive protection platform with fully developed or developing proprietarydesigned to reduce the likelihood of loss. The technology to maximize savings and efficiency,transaction closed in July 2021. launch growth opportunities and innovate newThe combined company, named Hippo Holdings risk selection processes; Inc. (Hippo Holdings), had an estimated Insurance and/or reinsurance carriers, in anyenterprise value of approximately $5 billion as of sector including P&C, life, annuity, health,the date of the announcement of the transaction. mortgage, title and fronting companies;30|Global Insurance Industry Year in Review 2021'