Insurance Supermarket International Inc. Closes US$100 Million Equity Investment From Gallatin Point Capital to Accelerate Global Growth

Represents the major at any time progress fairness investment decision of a Canadian-launched Insurtech

TORONTO, July 18, 2022 /CNW/ – Insurance policy Grocery store Global Inc. (“ISI” or the “Organization”), one of the major and swiftest escalating electronic existence insurance plan businesses in Canada working under Insurance Grocery store and Specialty Daily life Insurance coverage models, nowadays announced it has closed a US$100 million minority financial investment from cash managed by Gallatin Point Money LLC (“GPC” or “Gallatin Issue”). GPC will appoint its Co-Founder and Taking care of Spouse, Matt Botein, to ISI’s Board of Directors.

This transaction signifies ISI’s initially institutional fairness spherical given that launching its electronic distribution and administration system in 2015. The proceeds will be applied to accelerate ISI’s financially rewarding progress in lifetime insurance throughout North America and to scale its know-how-pushed system companies and distribution channels.

ISI has recognized by itself as the top digital lifetime insurance policy participant and as a single of the very couple of that has properly scaled its company in numerous nations and languages. In excess of 150,000 households currently rely on ISI for economic protection. ISI has also been meaningfully growing its operations into the U.S. together with its carrier and reinsurance partners, though retaining a critical concentrate on furnishing effortless and very affordable access to existence coverage for every person.

“Our major objective when we started out this system with RBC was to locate the proper spouse,” claimed Alex Dudarev, Founder and CEO of ISI. “Gallatin Point’s know-how of the sector and the alignment of our eyesight for the long run of the insurance plan industry allows us to touch and enhance additional life and to aid the everyday living insurance plan market transition to the digital age. We are operating tricky to ensure that the selection of underinsured families is reducing and our partnership with Gallatin Place will allow us to swiftly and seamlessly make a meaningful variance in the sector.”

Matt Botein observed “We are extraordinarily very pleased to associate with Alex and the ISI group. We have been amazed by ISI’s vision and its values, which have fueled the firm’s large advancement although providing beneficial and necessary money protection to its customers. ISI combines entrepreneurial energy and creative imagination with institutional good quality products design and company.  We glimpse forward to supporting the company’s development into new solutions and marketplaces.”

Mr. Dudarev included “I would like to thank our clients, marketplace companions, and most importantly our teammates, with no you we would under no circumstances get this much, but a lot more importantly we would not be ready to seem so confidently into the long term.”

RBC Cash Markets served as Special Placement Agent. Stikeman Elliott LLP and Kirkland & Ellis LLP acted as lawful advisors to the Corporation. Goodwin Procter LLP and Torys LLP acted as authorized advisors to Gallatin Issue.

About Insurance policy Grocery store Intercontinental Inc.

Coverage Grocery store Worldwide Inc. is a leading North American electronic life insurance distribution system that utilizes proprietary technological know-how to give a entire spectrum of particular security and investment decision merchandise to prospects in the U.S. and Canada. Through its equipment studying system, ISI can bind policies in true-time, for similar-working day-challenge, settlement, and fee. ISI’s mission is to use its innovative technological know-how system to democratize person lifetime insurance policy and make approach easy and reasonably priced for absolutely everyone.  To understand more about ISI stop by www.isi.ca.

About Gallatin Point Capital

Gallatin Level Money LLC is a personal expenditure agency with a primary aim on producing opportunistic investments in financial institutions, expert services and belongings. Its tactic is to establish prospects that come up from complexity, dislocation or alterations in engineering and regulation. Gallatin Place aims to kind remarkably collaborative partnerships with its investors and with administration groups of its portfolio businesses, looking for to incorporate the proper cash with the appropriate managerial competencies in buy to maximize the result for all stakeholders. A lot more data about Gallatin Stage can be discovered at www.gallatinpoint.com

Supply Insurance coverage Grocery store Intercontinental Inc.

For even more details: David Dyck, Chief Monetary Officer, [email protected] or Nicky Rua, VP of Corporate Services, [email protected]