Carbon secures strategic investment from Apiary Capital

We are delighted to announce that we have completed a significant strategic investment in Carbon Underwriting Limited, the specialist independent managing general underwriter (MGU).

Apiary’s investment will support Carbon’s management team as they seek to maintain the strong growth momentum in the business and build on their position as Lloyd’s benchmark of excellence for Delegated Underwriting Authority. Carbon is a class-agnostic MGU with a Lloyd’s Syndicate, and operates as an Underwriting and Data Lead with a keen focus on coverholder partnership. Carbon is supported by its proprietary technology platform ‘Graphene’ which presents underwriters and coverholders with superior data that facilitates profitable and informed underwriting decisions.

Carbon was established in 2018 by co-founders Nick Tye, Chief Executive Officer, Jacqui Ferrier, Chief Underwriting Officer and Ben Laidlaw, Chief Technology Officer, and currently employs 47 staff.

Nick Tye, Carbon CEO, said: “We are delighted to welcome Apiary’s strategic investment in Carbon - this is a pivotal moment that we are confident will help accelerate our transformative impact on the market as we drive towards a data-driven coverholder future. The investment will support our expansion, including the development of our underwriting platform and proprietary technology platform, Graphene, as well as investing in our people.

We are pleased to have the support of Apiary Capital, known for its expertise in accelerating business development at innovative companies across many sectors. Their insight and guidance will undoubtedly propel Carbon to new heights and help us to capitalise on opportunities in the market.”

“We are absolutely thrilled to partner with Carbon Co-Founders Nick, Jacqui and Ben and the rest of the Carbon team,” commented Jeniv Shah, Partner at Apiary Capital: “This is exactly the calibre of business that Apiary seeks to invest in - a founder-owned business, with a differentiated, technology-led proposition, and an opportunity to capture transformational growth in a large, underserved market.”