Nassau Re Launches Insurtech Incubator Will Give Space and Support to Startups in Hartford
Hartford, CT – February 20, 2019 – Nassau Re today announced the launch of Nassau Re/Imagine, an insurtech incubator based in the company’s iconic Boat Building headquarters in Hartford, CT. Nassau Re/Imagine will support selected startups focused in the life insurance, annuity and reinsurance industries and will provide complimentary office space and business development services.
“We are excited to launch our Nassau Re/Imagine initiative, as Nassau Re looks to be a leader in Hartford’s emerging insurtech expansion plans. Our industry is changing dramatically, and Hartford’s community and business leaders have created great momentum to attract insurtech entrepreneurs and lead that change,” said Phil Gass, Chief Executive Officer of Nassau Re.
“Through Nassau Re/Imagine, our goal is to help accelerate Hartford’s transformation as a center for insurtech innovation by fostering new companies that will continue to attract a new generation of talent to the city and state. Further, Nassau Re will provide a free, convenient and supportive environment for founders to develop strong business relationships with Nassau Re and other carriers in the area,” Gass said.
Nassau Re developed the incubator program in cooperation with the City of Hartford and Connecticut Innovations.
“Nassau Re’s decision to launch an incubator is another major step forward in our mission to make Hartford a global destination for insurtech innovation,” said Hartford Mayor Luke Bronin. “Nassau Re/Imagine demonstrates that there’s tremendous interest in our Capital City from entrepreneurs who are at the cutting edge of the insurance industry. I want to thank Phil Gass and the entire team at Nassau Re for their commitment to Hartford and for being part of the growing innovation ecosystem we’re building here.”
“Hartford continues to evolve into an insurtech hub and premier insurance companies, like NassauRe, are leading the charge by supporting startups in the ecosystem,” said Matt McCooe, CEO of Connecticut Innovations. “This incubator will help attract companies to Connecticut and forge stronger relationships between corporates and startups. This is an innovative and exciting new venture by NassauRe's executive team.”
Nassau Re will contribute up to 48,000 square feet over the next three years to support Nassau Re/Imagine. The workspace will have flexible, open space configurations to accommodate different sizes and types of businesses. In addition, the startups will receive legal, human resources, and business development support. The Boat Building is a modern architectural landmark listed on the National Register of Historic Place and has been recently modernized.
Nassau Re/Imagine has earned praise from local leaders.
“This is an incredible investment of talent, expertise and real estate by Nassau Re – their commitment to Hartford and the future of the insurance and financial services industry is incredible,” House Majority Leader Matt Ritter said. “Nassau Re/Imagine will spark innovation and continue Hartford’s renaissance.”
“I thank Nassau Re for facilitating Hartford’s ever evolving insurtech industry that will be the catalyst for new businesses and good paying jobs,” State Rep. Julio Concepcion (4th District) said.
Nassau Re/Imagine is currently accepting applications for the program, led by Paul Tyler, Chief Marketing Officer for Nassau Re. For more information, contact ptyler@nsre.com.
About Nassau Re
Nassau Re’s mission is to build a franchise across the insurance value chain. With extensive experience as owner-operators of numerous insurance and financial services businesses, we believe we have a competitive advantage in building a unique platform over the long term.
Nassau Re, based in Hartford, CT, currently has combined assets of approximately $20 billion and capital of approximately $1.3 billion. Our business covers four segments: insurance, reinsurance, distribution and asset management through various affiliates including Nassau Life and Annuity Company, Constitution Life Insurance Company, Saybrus Partners, Nassau Asset Management Company, Nassau CorAmerica and Nassau Corporate Credit.
Nassau Re was founded in 2015 with capital provided by Golden Gate Capital, a private investment firm with over $15 billion of committed capital. For more information, visit www.nsre.com.
Media Contact:
Patrick McGloin
pmcgloin@gbpr.com
(860) 841-3921
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