Acrisure Acquires Property Insurance MGA Vave
- Acrisure, a global fintech leader, announced on April 1, 2026, that it has completed the acquisition of Vave, a technology-driven property Managing General Agent (MGA), from Canopius Group.
- The transaction follows an initial agreement reached on December 10, 2025.
- Acrisure Underwriting functions independently from the distribution side of Acrisure's business.
Acrisure, a global fintech leader, announced on April 1, 2026, that it has completed the acquisition of Vave, a technology-driven property Managing General Agent (MGA), from Canopius Group.
The transaction follows an initial agreement reached on December 10, 2025. Vave now operates as part of Acrisure Underwriting, which is a platform consisting of 12 MGAs serving the U.S. Insurance markets.
Acrisure Underwriting functions independently from the distribution side of Acrisure’s business. Vave will maintain its own brand name and continue to be led by its founding management team under CEO Marek Shafer.
Technology and Underwriting Capabilities
Vave specializes in providing instantly bindable quotes for catastrophe-exposed excess and surplus (E&S) property risk within the United States. The company utilizes a combination of science, data, and precision underwriting to deliver these services.
The MGA operates via application programming interfaces (APIs) that enable real-time binding and servicing for distribution partners. These APIs process more than 10,000 quotes per day across several coverage types, including:
- Commercial property
- Homeowners coverage
- Flood insurance
- Earthquake insurance
The Vave team is based in the United States and London, with its products distributed exclusively through a network of wholesalers in the U.S. Market.
Strategic Integration and Product Expansion
The acquisition is intended to align Vave’s technology-first strategy with Acrisure’s broader fintech objectives. According to Grahame Millwater, President of Global Markets & International at Acrisure, Vave’s expertise in underwriting small commercial and homeowners’ risks exposed to catastrophes provides a core capability in property underwriting for the company.
Vave has recently expanded its offerings by launching a property product specifically for home and commercial property owners in California. The company has also indicated plans to launch a commercial package product focused on catastrophe-exposed areas in the near future.
Matt Schweinzger, President of North America Insurance at Acrisure
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.
Relationship with Canopius Group
Canopius Group, an international specialty and P&C (re)insurer, was the previous owner of the MGA. Despite the sale, Canopius will remain one of Vave’s capacity providers under a multi-year agreement.
Marek Shafer, CEO of Vave
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.
Acrisure has stated that it will continue to invest in Vave’s proprietary technology and the expansion of its geographies, coverages, and products as a unit within the Acrisure Underwriting platform.