The investment round was led by HSBC Asset Management. Credit: My Photo Buddy/Shutterstock.

Delos Insurance Solutions, a property insurance managing general agent (MGA) that serves homeowners in wildfire-stressed areas, has obtained $9m in a Series A funding round.

Delos was set up in San Francisco in 2017 by aerospace engineers. The company currently underwrites $40bn in total insurance value.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Utilising satellite imagery and wildfire science, Delos’ proprietary technology can identify homes with a lower risk of wildfire damage, offering an alternative to traditional insurers, which have retreated from these high-risk regions.

The latest infusion will help Delos advance this goal, supporting its expansion into other states and the development of new products.

Delos Insurance Solutions CEO Kevin Stein said: “We are looking to provide insurance outside California and develop new products to help people obtain the affordable insurance they deserve.

“We scaled back our funding requirements for this round, despite being oversubscribed. This is due to our better-than-planned growth, market-leading loss ratios and the positive response from California homeowners.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

HSBC Asset Management climate growth partners investment director Mike D’Aurizio said: “We are excited to support Delos by leading their latest funding round. Its proprietary wildfire forecasting, driven by AI, is improving access to property insurance coverage in California, a market that is under stress from growing climate catastrophes.”

In September 2023, Delos Insurance raised $7.3m in an extended seed funding round led by IA Capital Group.