OMAHA, NE (April 28, 2022) – Omaha National Group, Inc. (“Omaha National”), a leading tech-enabled provider of workers’ compensation insurance, today announced a $20 million unsecured senior debt financing facilitated by Cohen & Co., a financial services company specializing in fixed income markets. The notes carry a fixed rate of 6.8% with a 10-year term.
“Omaha National is strengthening its balance sheet through this financing, which will allow us to better serve clients as a full-stack carrier and facilitate financial strength ratings,” said Bryan Connolly, Chief Financial Officer of Omaha National.
“Cohen and Company is proud to support Omaha National as the company looks to build out its capital structure to match its long-term development plans,” said John Butler, Managing Director at Cohen & Company. “We’re pleased to match our expertise in the insurance industry with Omaha National’s leadership and look forward to our relationship with the organization and their management team.”
This latest funding follows Omaha National’s $45 million Series B round in 2021, which was led by Accomplice and included investors High Sage Ventures and Tull Investments. Agman, a Chicago-based investment firm, remains the principal and founding investor.
About Omaha National:
Omaha National serves the businesses that build America and keep it running; small to mid-size companies where people work with their hands and have a greater risk of being injured. Our proprietary software enhances our operations to better serve our customers and their injured workers. Omaha National offers AM Best A (Excellent) rated workers’ compensation coverage through more than 2,500 agencies. Since our launch in 2016, the company has grown to more than 200 employees and over $140 million of in-force premiums.
About Cohen & Company:
Cohen & Company is a financial services company specializing in fixed income markets and, more recently, in SPAC markets. It was founded in 1999 as an investment firm focused on small-cap banking institutions but has grown to provide an expanding range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management, and Principal Investing. For more information, please visit www.cohenandcompany.com.