Ledger Investing Launches Korra, A Saas Subsidiary Connecting Risk To Capital

Open SaaS platform to bring efficiency, transparency, and intelligence to the casualty reinsurance and insurance-linked securities (ILS) market

NEW YORK, Dec. 09, 2025 (GLOBE NEWSWIRE) --  Ledger Investing today announced the launch of Korra, a separate SaaS platform company providing transaction services for the reinsurance and insurance-linked securities (ILS) market. Korra connects insurers, MGAs, reinsurers, and institutional investors through an integrated suite of applications and AI-driven workflows that support the full reinsurance lifecycle – from pricing and structuring to performance reporting and valuation.

Since 2021, Ledger has been developing and using the Korra technology stack internally to structure, execute, and service more than 170 casualty ILS transactions, representing over $7 billion in gross written premium. Korra now brings that proven technology, refined through real-world use, to the broader market as a standalone platform.

The Korra platform includes:

• Korra Marketplace – A digital transaction platform connecting risk to capital.
• Korra Analytics – Actuarial and data science tools to stochastically forecast performance, price new deals, and estimate fair market value of existing deals.
• Korra Reports – Automated bordereaux ingestion and performance monitoring dashboards of cession statements, collateral calculations, and financial statements.
• Korra Contracts – AI technology to transform bespoke contracts into structured data that can be queried in natural language and drive downstream processes.

“Korra is an end-to-end solution that meets the pre and post transaction needs of risk originators and capital providers,” said Umair Rasool, General Manager of Korra. “Customers can start in the application that solves their biggest problem today, knowing that the data created in one app is immediately available across the platform – reducing duplicate work, reconciliations, and manual handoffs between point solutions.”

Rasool continued, “It can also connect into your existing non-Korra and legacy systems, so one decision unlocks a network effect across the rest of your technology stack.”

“We built Korra because we needed it ourselves,” said Samir Shah, Co-founder and CEO of Ledger Investing. “We were in the trenches as a broker, risk modeler, asset manager, and collateralized reinsurer, processing complex casualty transactions at scale. That experience forced us to solve real operational, data and analytics problems. We’ve iterated on this technology deal by deal.”

With the launch of Korra, the Ledger group of companies has been re-organized into two primary operating divisions: Korra, the SaaS platform, and Ledger Investing, a reinsurance brokerage and advisory firm.

“As more insurance risk connects with more sources of capital, the bottleneck isn’t demand – it’s infrastructure,” Shah continued. “New capital providers need a servicing platform that gives them transparency, efficiency, and reliability before they’ll commit, and even incumbent reinsurers and fronting carriers will need to operate far more efficiently to stay competitive. We’ve been pioneers in building this market, and forming Korra as a dedicated division is about turning those experiences into the missing piece of infrastructure the market has been waiting for – a holistic solution that helps new entrants get comfortable ceding and investing in a historically opaque space while giving incumbents the tools they need to compete and grow.”

About Ledger Investing

Ledger Investing has led the development of casualty ILS since its inception in 2017. Recognized on CB Insights’ Insurtech 50 list in 2023, the company started as a Y Combinator startup and has raised over $90M from leading VCs and strategic insurance industry investors. It created the first dedicated casualty ILS fund in 2021, and has securitized $2.5 billion of casualty premiums through primary and secondary transactions. The Ledger group of companies includes: Korra Tech, LLC, a SaaS platform, Ledger Risk Markets, LLC, a reinsurance intermediary; Ledger Capital Markets, LLC, a securities broker/dealer; Ledger Re SPC, a class B(iii) insurer; and Ledger ILS Services, Ltd., an underwriting and risk management services firm. For more information on our brokerage and advisory business, visit www.ledgerinvesting.com and follow us on LinkedIn and X.

About Korra

Korra is a SaaS platform providing risk originators and capital providers with tools to price, transact, report on, and manage reinsurance and insurance-linked securities (ILS) transactions. Korra’s integrated data and analytics platform makes risk transfer and post-transaction processes standardized, faster, and more intelligent. With a mission to bring more transparency to how risk connects to capital, Korra helps (re)insurers, MGAs, and brokers access greater, more diverse capacity, while providing collateralized and traditional reinsurers and institutional investors with a repeatable, scalable way to realize attractive returns. For more information on Korra, visit www.korra.com and follow us on LinkedIn and X.

Media Contact:
Rob Savitsky
press@ledgerinvesting.com