Acrisure announced it has completed the acquisition of Vave, a technology-driven managing general agent focused on property insurance, from Canopius Group. The deal brings Vave into Acrisure Underwriting, a platform comprising 12 MGAs operating across U.S. insurance markets.
Vave will continue operating under its existing brand and leadership, with founder Marek Shafer remaining at the helm. Canopius will also maintain an ongoing relationship with Vave as a capacity provider through a multi-year agreement.
The acquisition strengthens Acrisure’s presence in catastrophe-exposed property insurance segments, particularly in the excess and surplus market. Vave’s platform leverages data, science, and API-driven technology to deliver more than 10,000 quotes daily across commercial, homeowners, flood, and earthquake coverage.
A key focus of the expansion includes Vave’s recently launched California-specific property product, targeting homeowners and businesses in disaster-prone regions. The company is also preparing to roll out a broader commercial package product aimed at similar high-risk areas.
By integrating Vave’s underwriting technology and distribution model, Acrisure aims to enhance its ability to serve families and small businesses facing increasing exposure to natural catastrophes. Vave’s products are distributed through a network of U.S. wholesalers, and the company maintains operations in both London and the United States.
Acrisure, a global fintech platform offering insurance, reinsurance, payroll, benefits, cybersecurity, and real estate services, has scaled rapidly over the past decade, growing from $38 million in revenue to nearly $5 billion and employing more than 19,000 people across 24 countries.
KEY QUOTES:
“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.”
Matt Schweinzger, President of North America Insurance at Acrisure
“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.”
Marek Shafer, CEO of Vave
