Stand Insurance raises $70 million at a $1 billion value
Stand Insurance raised $70 million at a $1 billion valuation. The wire puts insured property above $10 billion and states no premium, loss ratio or growth rate.
Stand Insurance has priced a $70 million Series C at a $1 billion valuation, and the October 15, 2026 release lets the insured-value line outrun the equity line. Having lined that wire up against the specialty raises already on this desk, the figure that does not travel is the property total: more than $10 billion, from $1 billion a year earlier. Those are not the same billion. The release states no premium, no loss ratio and no growth rate.
One number is a price on the equity. The other is property on the policies. That shape is the reverse of Ledgebrook's $200 million primary equity, co-led by Allianz X and Rockefeller Capital Management: the announcement stated neither a valuation nor the size of the stake. Saga Ventures led the Stand Insurance round, with Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe and Jackson Square Ventures named, plus others the wire does not list, and the subhead puts total capital raised at $130 million without saying what the new equity is for.
What the model is allowed to claim
The product section stays inside a simulation, not a result. The Stand World Model, as the release describes it, makes a digital version of one home and runs that home through fire, wind and other disasters, using construction, surroundings and weather, then points the owner at the fixes. A billion-dollar weather disaster every 10 days is the wire's demand line, not Stand Insurance's loss.
The pricing claim is narrower than the mission. The release ties discounts of up to 70% to homes less likely to burn in a wildfire, and it gives no dollar saving on a named house. Dan Preston, co-founder and chief executive of Stand Insurance, said: "Disasters follow the laws of physics, and insurance should too."
The company site says it quotes high-value homes in California and Florida, with a waitlist elsewhere, and it labels sample premiums as examples. Those samples are not round figures. The waitlist is not a launch date.
Two hires, and the names that stayed quiet
Drew Saad joins as president of property and casualty from PURE Insurance, where he was chief underwriting officer for one of the country's leading high-net-worth insurers. Saad said Stand had "done that for the homes exposed to natural disasters," and that the opportunity is to scale it "to every market that needs it." The release still names only California and Florida, and only as the states of the issuing companies.
Tony Landi joins as chief financial officer from Nephila, which the release calls one of the world's largest fund managers of catastrophe reinsurance, where he was head of strategic growth. Before that he was head of reinsurance and capital management at Openly and head of portfolio management at Everest Re. At Stand Insurance he will lead finance, reinsurance, capital markets and growth strategy, and he said the capital has to come "from our investors and our reinsurance partners alike."
The October 16 notes on FinTech Global and Reinsurance News retell the wire. They quote no one at PURE, Openly or Everest Re, and no one at Arch, RenaissanceRe, Hannover, Hiscox or Nephila speaking as a reinsurer. Nephila is also Landi's last employer, and the release does not connect the two. No state insurance department is quoted in either note.
Issuing paper, not a premium
Stand Insurance underwrites and services policies issued by Concert Specialty Insurance Company, rated A- by AM Best, in California, and by Stand Insurance Exchange, rated A by Demotech, in Florida. Reinsurance is described as AM Best A and A+ paper, with Arch, RenaissanceRe, Hannover, Nephila and Hiscox named only as examples, and the page does not say the ratings were reviewed for this round. The subhead's rise of 10 times, to $10 billion, is tighter than the body's "more than $10 billion." Neither line is earned premium.
The cheque buys an insurance operation, not a software seat. Luzern Risk's $45 million Series B pays for captive management aimed at mid-market firms. Ominimo's $22.5 million at a $1.6 billion valuation was a thin slice of a priced motor mark. Stand Insurance states the valuation and the property total, and withholds the premium that would test either number.
What would change the reading
A $70 million equity cheque does not hold a catastrophe book on its own. Landi holds the capital and reinsurance brief, and Saad the underwriting operation that has to match the model. A premium, a loss ratio, or a named reinsurer standing behind the move from $1 billion of property to more than $10 billion would let the valuation be read against a result. A further state on the waitlist would not, so the fintech desk should keep the valuation and the property total apart.
Reporting by Rick Steves. Filed 18 October 2026, 14:16 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
