Fintech purchases property MGA from Canopius Group

Financial technology and insurance firm Acrisure has purchased property MGA Vave from Canopius Group.

The deal, announced 1 April 2026, will see the firm operate under the Acrisure Underwriting umbrella, while continuing to receive capacity from Canopius Group through a multiyear agreement.

Vave – which has offices in both London and the US – will continue to operate predominantly in the US market, with its products exclusively distributed by a network of wholesale brokers.

Acrisure said that Vave combines “science, data and precision underwriting to offer instantly bindable quotes to distribution partners on catastrophe-exposed E&S property risk” and that the MGA regularly delivered more than 10,000 quotes per day.

Branding retained

Vave will retain its branding and continue to be led by its founding management team, headed by chief executive Marek Shafer.

Matt Schweinzger, president of North America Insurance at Acrisure, said: “We look forward to working with the Vave team starting today to continue expanding their technology-enabled products to serve families and small businesses in disaster-prone areas.

“Vave’s recent expansion into California property risks directly benefits the people of California and Vave’s network of distribution partners.”

Shafer added: “We are grateful to Canopius for sponsoring our team from the idea stage through to a successful sale of the business.

“Today we begin a new chapter. Under Acrisure’s ownership, we expect to continue expanding our capacity relationships, product offerings and technology capabilities, starting with our new product for California property owners.”