Ledger Investing spins out Korra as a SaaS platform to revolutionise casualty reinsurance transactions

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1. https://fintecbuzz.com/ledger-investing-announced-the-launch-of-korra/ - Please view link - unable to able to access data
2. https://www.globenewswire.com/news-release/2025/12/09/3202533/0/en/Ledger-Investing-Launches-Korra-a-SaaS-Subsidiary-Connecting-Risk-to-Capital.html - Ledger Investing has launched Korra, a new SaaS platform designed to enhance efficiency, transparency, and intelligence in the casualty reinsurance and insurance-linked securities (ILS) market. Korra connects insurers, managing general agents (MGAs), reinsurers, and institutional investors through an integrated suite of applications and AI-driven workflows that support the full reinsurance lifecycle—from pricing and structuring to performance reporting and valuation. Since 2021, Ledger has been developing and using the Korra technology stack internally to structure, execute, and service more than 170 casualty ILS transactions, representing over $7 billion in gross written premium. Korra now brings that proven technology, refined through real-world use, to the broader market as a standalone platform. The Korra platform includes: Korra Marketplace—a digital transaction platform connecting risk to capital; Korra Analytics—actuarial and data science tools to stochastically forecast performance, price new deals, and estimate fair market value of existing deals; Korra Reports—automated bordereaux ingestion and performance monitoring dashboards of cession statements, collateral calculations, and financial statements; Korra Contracts—AI technology to transform bespoke contracts into structured data that can be queried in natural language and drive downstream processes. "Korra is an end-to-end solution that meets the pre and post transaction needs of risk originators and capital providers," said Umair Rasool, General Manager of Korra. "Customers can start in the application that solves their biggest problem today, knowing that the data created in one app is immediately available across the platform—reducing duplicate work, reconciliations, and manual handoffs between point solutions."
3. https://www.insurancebusinessmag.com/reinsurance/news/breaking-news/ledger-spins-out-korra-to-streamline-casualty-ils-deals-559578.aspx - Ledger Investing has launched Korra as a separate software-as-a-service company designed to support transactions in the reinsurance and insurance-linked securities market. The new platform links insurers, managing general agents, reinsurers, and institutional investors through applications and AI-enabled workflows that span pricing, structuring, reporting, and valuation across the reinsurance lifecycle. Korra is built on technology that Ledger has used internally since 2021 to structure, execute, and service more than 170 casualty ILS transactions, representing over US$7 billion in gross written premium. The launch comes against a backdrop of growing global reinsurance and ILS capital, with dedicated reinsurance capital estimated at about US$805 billion and traditional capacity projected to grow around 8% through 2025, according to Artex Risk. ILS issuance has surpassed US$18 billion this year, with the outstanding ILS market at roughly US$56 billion, highlighting the scale of alternative capital that platforms like Korra are targeting. "Korra is an end-to-end solution that meets the pre- and post-transaction needs of risk originators and capital providers," said Umair Rasool, general manager of Korra. He added that customers can start with whichever application addresses their most immediate need, while data created in one module is available across the platform, which he said is intended to cut duplicate work, reconciliations, and manual handoffs between separate tools. Alternative capital is playing a larger role across the sector, with ILS now estimated to represent more than US$100 billion of global reinsurance capacity, according to recent market commentary. That expansion is increasing demand for standardized data, transparent reporting, and scalable servicing platforms for ILS and collateralized reinsurance. "We built Korra because we needed it ourselves," said Samir Shah, co-founder and CEO of Ledger Investing. He said the firm’s work as broker, risk modeler, asset manager, and collateralized reinsurer on complex casualty transactions pushed it to address operational, data, and analytics challenges, and that the technology has been refined on a deal-by-deal basis. With Korra’s launch, Ledger has restructured its operations into two main divisions. Korra will operate as the SaaS platform company, while Ledger Investing will continue as a reinsurance brokerage and advisory firm.
4. https://www.ledgerinvesting.com/ - Ledger Investing is a specialized broking and advisory firm exclusively focused on casualty insurance-linked securities (ILS)—a rapidly emerging asset class at the intersection of insurance and capital markets. The company connects insurers, reinsurers, and fronting carriers seeking access to new capital from institutional investors. Ledger has been a first mover in connecting insurance risk to the broader capital markets and works with a broad range of risk markets, including some of the largest, publicly traded global (re)insurers. The company has securitized $2.5 billion of casualty premiums through primary and secondary transactions and has been recognized on CB Insights’ Insurtech 50 list in 2023. Ledger operates through its wholly owned subsidiaries: Ledger Risk Markets, LLC, a reinsurance intermediary; Ledger Capital Markets, LLC, a securities broker/dealer; Ledger ILS Managers, a registered investment advisor; Ledger Re SPC, a class B(iii) insurer; and Ledger ILS Services, Ltd., an underwriting and risk management services firm.
5. https://www.prnewswire.com/news-releases/ledger-investing-closes-100-million-casualty-sidecar-with-global-reinsurer-302256183.html - Ledger Investing, the leading marketplace connecting insurance risk to capital, announced the successful funding and launch of a new casualty sidecar facility. This sidecar will provide up to $100 million of capital to finance the casualty reinsurance business of a global reinsurer over three underwriting years on a quota share basis. Ledger Re SPC, a Cayman-based subsidiary of Ledger Investing that provides institutional investors access to casualty insurance-linked securities (ILS), served as the retrocessionaire. Ledger Capital Markets acted as the sole structuring agent and bookrunner for the deal, reinforcing Ledger's position as the leader in casualty ILS. Samir Shah, CEO of Ledger, said, "This is an important development for Ledger as we expand from primarily securitizing MGA-originated portfolios to supporting the long-term capital management of leading (re)insurers."
6. https://www.prnewswire.com/news-releases/ledger-investing-expands-capabilities-to-further-advance-the-casualty-ils-market-302214992.html - Ledger Investing, the leading marketplace connecting insurance risk to capital, announced today an expansion of its capabilities within the casualty insurance-linked securities (ILS) market with the launch of two new Cayman-based subsidiaries: Ledger Re SPC, a reinsurer providing institutional investors access to casualty ILS, and Ledger ILS Services, a provider of underwriting and risk management services. Ledger Investing has pioneered the development of casualty ILS since its founding in 2017 and the formation of these business segments further cements its leading role in helping managing general agents (MGAs) and (re)insurers source capital in the ILS market. In another sign of the company's momentum, Ledger Investing is also delighted to announce that the casualty ILS funds previously managed by Ledger, will now be managed by the casualty team at Fermat, leveraging Fermat's extensive experience in ILS asset management.
7. https://iireporter.com/ledger-investing-launches-korra-to-streamline-reinsurance-transactions/ - Ledger Investing (New York) has launched Korra (New York), a separate SaaS platform company offering transaction services for the reinsurance and insurance-linked securities (ILS) market. Korra connects insurers, managing general agents (MGAs), reinsurers, and institutional investors through a suite of integrated applications and AI-driven workflows that support the full reinsurance lifecycle—from pricing and structuring to performance reporting and valuation. Since 2021, Ledger has used the Korra technology stack internally to structure, execute, and service more than 170 casualty ILS transactions, representing over $7 billion in gross written premium. Korra now brings that technology to the broader market as a standalone platform. The Korra platform includes: Korra Marketplace—a digital platform connecting risk to capital; Korra Analytics—actuarial and data science tools to stochastically forecast performance, price new deals, and estimate fair market value of existing deals; Korra Reports—automated bordereaux ingestion and performance monitoring dashboards of cession statements, collateral calculations, and financial statements; Korra Contracts—AI technology to transform bespoke contracts into structured data that can be queried in natural language and drive downstream processes. "Korra is an end-to-end solution that meets the pre and post transaction needs of risk originators and capital providers," said Umair Rasool, General Manager of Korra. "Customers can start in the application that solves their biggest problem today, knowing that the data created in one app is immediately available across the platform—reducing duplicate work, reconciliations, and manual handoffs between point solutions."