Community Financial System invests $37.4M in Leap Holdings (insurtech MGA for rental housing)

COMMUNITY FINANCIAL SYSTEM, INC.

Acquired ~$37.35 million in preferred and common stock of Leap Holdings, Inc., a minority investment.
Leap is a tech-first managing general agent offering rent guaranty and deposit replacement for rental housing.
Investment complements CBU's existing insurance services and supports its diversification strategy.
Leap's products are backed by A.M. Best A- rated capacity via the Accelerant Risk Exchange; rapid growth since 2018.

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