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Star Insurance and Liberty Mutual raise $100m for NYDIG

Star Insurance and Liberty Mutual are amongst the leading Property and Casualty (P&C) insurers that have aided NYDIG to raise $100 million in added growth support.

NYDIG is a provider of investment solutions and technology for Bitcoin. Simultaneously, NYDIG has revealed the appointment of Mike Sapnar, Trans Re’s Chief Executive Officer as Global Head of Insurance Solutions.

Sapnar will manage the NYDIG’s insurance activities while assisting to accelerate bitcoin-driven inventions in the global Property and Casualty Industry. He will be joined by Matt Carey, Head of Insurance Solutions of US NYDIG. Matt will be concentrating on bitcoin solutions for US-based annuity and life insurance providers.

NYDIG is owned by Stone Ridge, which is a holding company that also operates Stone Ridge Asset Management.

Robert Gutmann, Co-founder, and CEO of NYDIG said, “ The global P&C sector is huge who pays out more than $1 trillion in claims annually. “I and the Team are also excited to welcome Matt and Mike to NYDIG. I am thrilled to welcome Liberty Mutual and Starr to NYDIG, as a part of our extension of Bitcoin into new sectors of insurance.” Ross Stevens, Stone Ridge’s CEO and NYDIG’s Executive Chairman commented, “With the new addition of Mark Sapnar, and MassMutual, Starr, Liberty Mutual, and New York Life as new shareholders of NYDIG, we will be working diligently to facilitate new bitcoin products for global insurers.

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