Funding Led by Bessemer and Northpoint Capital as EarthRe Becomes IFSC’s First Incorporated Licensed Reinsurer
Technology-led risk and reinsurance platform InRisk Labs has raised $27 million in a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital, marking a significant milestone in its growth journey. The fundraise coincides with a major regulatory achievement, as its subsidiary EarthRe Insurance IFSC Limited received a licence from the International Financial Services Centres Authority (IFSCA) to operate as a reinsurer.
According to the company, EarthRe is the first incorporated reinsurer to receive a licence from the International Financial Services Centre (IFSC) at GIFT City, strengthening India’s domestic reinsurance ecosystem.
Capital to Expand AI-Led Reinsurance Platform
The company said the fresh capital will be used to strengthen its underwriting, actuarial, catastrophe modelling and artificial intelligence capabilities. It also plans to expand into natural catastrophe and climate risk, while broadening its presence across non-life insurance segments, including marine cargo and motor insurance.
The funding will also support the development of parametric and structured reinsurance products and help meet regulatory capital requirements as EarthRe scales operations in India’s $10 billion reinsurance market.
EarthRe Marks Strategic Transition
With the regulatory approval, InRisk Labs is transitioning from a technology-focused insurtech platform to an integrated reinsurance group with licensed risk-bearing capacity.
While InRisk Labs will continue building technology, data intelligence and risk analytics infrastructure, EarthRe will undertake regulated reinsurance underwriting through its licensed balance sheet.
The company plans to focus on non-life reinsurance across natural catastrophe, climate risk, property, crop and specialty insurance lines.
AI and Data at the Core
EarthRe said its underwriting platform combines climate intelligence with geospatial, satellite, exposure and claims data to improve underwriting decisions, pricing, portfolio construction and capital allocation.
The company also plans to offer treaty, facultative, structured and parametric reinsurance solutions tailored for India and other emerging markets across the Global South.
Investors Back India’s Reinsurance Opportunity
Commenting on the development, Malay Kumar Poddar, Chief Executive Officer of EarthRe, said India is expected to become one of the world’s most significant insurance markets over the next two decades, creating the need for indigenous reinsurance capacity and locally built risk solutions.
Vishal Gupta, Partner at Bessemer Venture Partners, said the firm had backed InRisk Labs at the seed stage and has further increased its investment through the Series A round. Sameer Brij Verma, Founder and CIO of Northpoint Capital, said EarthRe combines a licensed balance sheet with an AI-native risk platform and deep underwriting expertise, positioning it well for long-term growth.
Outlook
The Series A funding and regulatory approval mark a pivotal moment for InRisk Labs as it evolves into a licensed reinsurance player. By combining AI-driven risk intelligence with regulated underwriting capabilities, the company aims to strengthen India’s domestic reinsurance capacity while developing technology-led solutions for climate, catastrophe and specialty risks across India and other emerging markets.
