Global Indemnity Group, a New York–listed property and casualty insurance company, has acquired Sayata, an Israeli AI-powered marketplace for commercial insurance distribution, through its subsidiary Penn-America Underwriters.
The deal amount was not disclosed, but market sources estimate it to be worth tens of millions of dollars in cash and shares.
The acquisition shows that Global Indemnity wants to modernize its agency operations and grow through quicker, technology-driven channels. It comes soon after the company reorganized Penn-America Underwriters to focus on agency and insurance services.
Sayata was founded in 2017 by Asaf Lifshitz (CEO), Iddan Golomb (CPO), and Avishay Maya (CTO). The company has built a digital platform that is used by thousands of insurance professionals across the US.
The platform helps simplify the distribution of commercial property and casualty insurance by using AI-driven analytics to reduce inefficiencies and speed up policy placement. So far, it has supported tens of thousands of policies and built partnerships with top insurance carriers nationwide.
Sayata’s investors include Pitango Growth, Hanaco Ventures, Team8 Capital, Vertex Ventures, Elron Ventures, and OurCrowd.
Praveen K. Reddy, president and chief executive of Penn-America Underwriters, said the acquisition “directly supports our strategy to deliver faster, smarter distribution solutions for specialty insurance.”
For Sayata, the deal offers scale and backing within a larger insurance group. Lifshitz said the company will “continue to deliver best-in-the-industry economics for our customers” while broadening its reach through Global Indemnity’s network.
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