2025-10-17 · Source: Reinsurance News
Summary in 3 Points • MGT raises $21 million.6m in Series B funding • Mubadala Capital leads investment round • Focus on modernising P&C insurance with AI --- MGT, an **AI-native** neo-insurer, has successfully closed an oversubscribed $21.6 million Series B funding round. This investment was led by new investor **Mubadala Capital**, with participation from **Clocktower Ventures**, **Tacora Capital**, and existing backers. The funds are earmarked to advance MGT's mission of transforming the commercial property and casualty (P&C) insurance sector by leveraging **artificial intelligence** to deliver smarter and faster services. For the London Insurance Market, MGT's funding round signifies a growing trend towards integrating **artificial intelligence** in insurance processes. This development could prompt London Market underwriters and brokers to explore partnerships or innovations that incorporate **AI** for enhanced efficiency and risk assessment. The involvement of prominent investors like **Mubadala Capital** and **Clocktower Ventures** highlights a strong confidence in the potential of **AI-driven** solutions to reshape traditional insurance models, potentially influencing future investment strategies and competitive dynamics within the market.
For the London Insurance Market, MGT's funding round signifies a growing trend towards integrating artificial intelligence in insurance processes. This development could prompt London Market underwriters and brokers to explore partnerships or innovations that incorporate AI for enhanced efficiency and risk assessment. The involvement of prominent investors like Mubadala Capital and Clocktower Ventures highlights a strong confidence in the potential of AI-driven solutions to reshape traditional insurance models, potentially influencing future investment strategies and competitive dynamics within the market.