NYDIG raised $100 million from insurance companies Thursday as the institutional crypto shop previewed its latest business venture: bitcoin insurance products.
Liberty Mutual and Starr Insurance joined NYDIGs growth capital round alongside other unnamed property and casualty coverage firms. NYDIG raised $200 million just last month from MassMutual, New York Life and others.
Also Thursday, NYDIG tapped industry veterans Mike Sapnar, CEO of Transatlantic Reinsurance, to lead its global insurance solutions wing. Matt Carey of annuity marketplace Blueprint Income will lead the U.S. effort, NYDIG said.