Acrisure has completed its acquisition of Vave, a technology-driven property managing general agent (MGA), from Canopius Group, the companies said in a statement.
Following the transaction, Vave will operate within Acrisure Underwriting, a platform comprising 12 MGAs across US insurance markets. The business will retain its brand and leadership team, led by CEO Marek Shafer (pictured). Canopius will remain a capacity provider to Vave under a multi-year agreement, according to the announcement.
Vave specializes in catastrophe-exposed excess and surplus (E&S) property risks in the United States, using data-driven underwriting and application programming interfaces (APIs) to generate more than 10,000 quotes daily. Its offerings include commercial, homeowners, flood, and earthquake coverage.
The company recently introduced a California-focused home and commercial property product and is preparing to launch a commercial package product targeting catastrophe-prone areas.
Matt Schweinzger, president of North America Insurance at Acrisure, said the acquisition would support the expansion of technology-enabled insurance offerings.
“Vave’s recent expansion into California property risks directly benefits the people of California and Vave’s network of distribution partners,” he said.
For Shafer, the deal marks a transition for the business following its development under Canopius.
“We are grateful to Canopius for sponsoring our team from the idea stage through to a successful sale of the business,” Shafer said. “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.”
Vave operates teams in London and the United States, with its products distributed through a network of US wholesalers.
The acquisition was first announced in December 2025, when Acrisure agreed to acquire Vave from Canopius Group as part of its strategy to expand its underwriting capabilities through technology-focused MGAs.
In January, the company agreed to acquire Efficient Insurance Solutions, another technology-enabled MGA, to expand its delegated underwriting capabilities and enhance automation-driven insurance services.
