Minority Broker Partnerships (MBP), backed by insurance veteran Peter Cullum, has taken a minority stake in Moonrock Insurance, providing fresh capital to fuel the MGA’s expansion in the fast-growing drone and eVTOL insurance market.
The Series A investment, made for an undisclosed sum, is expected to strengthen Moonrock’s underwriting capabilities, broaden its product portfolio, and support its international ambitions.
Building scale in a rapidly evolving market
Moonrock, founded and led by managing director Simon Ritterband, specialises in insurance for drone operators and emerging aerial technologies. With drone deliveries, surveying services, and eVTOL cargo transport gaining traction, demand for bespoke coverage is increasing rapidly. Recent research values the global low-altitude economy at over US$30 billion, with projections topping US$54 billion by 2030, underscoring the need for dedicated insurance solutions.
The investment will allow Moonrock to roll out additional specialist products, extend coverage for aerial technologies, and enhance internal operations through increased staffing and automation. It will also support the development of proprietary platforms designed to improve services for both clients and insurers.
Strategic backing for innovation
Ritterband (pictured above) emphasised that MBP’s involvement represents a turning point in Moonrock’s development, as the firm seeks to accelerate growth and innovation while consolidating its position in the drone insurance sector. He highlighted that Cullum’s long experience in scaling insurance businesses and MBP’s deep understanding of capacity providers and distribution channels will be central to shaping Moonrock’s next stage of growth.
For MBP, the move reflects strong confidence in Moonrock’s potential and in the broader opportunities within drone and eVTOL insurance. Chief executive James McCaffrey underlined that MBP intends to work closely with the Moonrock team to deliver ambitious growth plans, citing the MGA’s specialist expertise and market position as key strengths.
The deal highlighted the insurance industry’s growing recognition of drones and eVTOLs as both a commercial opportunity and an area requiring specialised cover.
As new aerial technologies become embedded in logistics, infrastructure, and mobility systems, insurers face pressure to adapt products, refine underwriting approaches, and establish clearer frameworks for risk. Moonrock’s expansion, backed by MBP’s capital and experience, illustrates the sector’s move from niche to mainstream within aviation insurance.
