Ledger Investing
Casualty ILS marketplace and SaaS platform connecting insurance risk with institutional capital
Overview
Ledger Investing is a reinsurance technology and insurance-linked securities (ILS) intermediary for the casualty insurance market. The company connects insurance carriers, reinsurers, and MGAs with institutional investors through a structured marketplace for casualty ILS transactions. It serves top-tier global reinsurers, major insurance carriers, wholesale brokers, and investor groups including pension funds, sovereign wealth funds, and private credit funds.
The company operates two business lines: a traditional broking and advisory practice covering casualty ILS origination, structuring, and placement, and Korra -- a separate SaaS subsidiary launched in December 2025 that digitizes reinsurance workflows across pricing, structuring, contract analysis, and performance reporting. The Korra platform is built around AI-driven modules and supports the full reinsurance lifecycle from deal pricing through collateral monitoring.
Founded in 2016 and a Y Combinator alumnus, Ledger Investing has facilitated over 170 casualty ILS transactions representing more than USD 7 billion in gross written premium. The company closed a USD 75M Series B round in 2024, bringing total funding to approximately USD 95.9M.
Products & Services
Korra Platform
A SaaS platform for reinsurance and ILS transactions, launched in December 2025 as a separate subsidiary. The platform integrates AI-driven workflows across the full reinsurance lifecycle, connecting insurers, MGAs, reinsurers, and institutional investors through a single environment.
Key Features
- Korra Marketplace: Digital transaction layer connecting insurance risk with capital market investors
- Korra Analytics: Actuarial and data science tools for deal pricing, performance forecasting, and portfolio valuation
- Korra Reports: Automated bordereaux ingestion with financial statement and collateral monitoring
- Korra Contracts: AI-powered contract parsing that converts bespoke reinsurance contracts into structured, queryable data
Target Users: Insurance carriers, reinsurers, MGAs, institutional investors
Casualty ILS Broking & Advisory
Traditional intermediary services for the casualty ILS market, covering the full transaction lifecycle from origination to secondary trading.
Key Features
- Deal origination and structuring for off-balance-sheet solutions
- Securities placement to institutional capital market investors
- Secondary market trading and liquidity solutions
- Strategic advisory on capital efficiency and risk transfer
Target Users: Insurance carriers, MGAs, reinsurers
At a Glance
- Founded
- 2016
- Headquarters
- [Unknown]
- Employees
- 11-50
- Funding
- Series B
Category & Focus
- Category
- Reinsurance Technology
- Subcategories
- Insurance-Linked Securities (ILS) Capital Markets Broking Reinsurance Analytics
- Insurance Verticals
- P&C Commercial Specialty/E&S Reinsurance Workers Compensation
- Target Customers
- Carriers, Reinsurers, MGAs/MGUs, Brokers
Customers
- Top 10 global reinsurers
- Top 15 global insurers
- Top 3 global wholesale brokers
- Pension funds and sovereign wealth funds
- Special situations and private credit funds
Last updated: 2026-06-15