Insurtech Ignyte launched as a specialty platform for insurance brands
Ignyte Insurance launched as a specialty insurance platform focused on acquiring, expanding, and supporting insurance brands in niche global markets
🇦🇺 Australia & New Zealand Insurance News
Australian ASIC sues Hollard Insurance over prolonged claim handling
The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings against Hollard Insurance Partners, alleging serious failures
FMA files civil case against IAG New Zealand over $19.3 mn in overcharges affecting 269,000 customers
The Financial Markets Authority (FMA) has filed civil proceedings against IAG New Zealand in the High Court in Auckland for breaching fair dealing provisions under the Financial Markets Conduct Act
MS&AD Insurance will sell 15.1% stake in Challenger to TAL Dai-ichi Life Australia
MS&AD Insurance Group Holdings will sell its 15.1% stake in Challenger Ltd. to TAL Dai-ichi Life Australia, a subsidiary of Dai-ichi Life Holdings
New Zealand life insurance sector sees steady growth amid changing market trends
New Zealand’s life insurance sector has grown between 2% and 5% year-over-year since 2015, with seasonality having less impact on new business since 2021
Suncorp Group finalized the sale of Asteron Life, its New Zealand life insurer
Suncorp Group has finalized the sale of Asteron Life, its New Zealand life insurance business, to Resolution Life NOHC for NZ$410 mn
Australian digital insurance broker UpCover secured $19 mn in a Series A
Australian digital insurance broker UpCover has secured $19 mn in a Series A funding round to accelerate the growth of its platform
Aon appointed Jennifer Richards as CEO of Asia-Pacific, Anne Corona as Global CCO
Richards will collaborate with the Asia-Pacific executive committee to expand the firm’s capabilities, strengthen client relationships, drive growth, and execute the 3×3 Plan
ICA classified flooding in Queensland as a significant event and activated an Insurance Hub in Townsville
Severe storms and flooding have impacted northern Queensland and nearby areas in Australia since Jan. 29. The Insurance Council of Australia (ICA) classified it as a “significant event
Suncorp Group completed the sale of Asteron Life, its New Zealand life insurer, for NZ$410 mn
Suncorp Group Ltd. completed the sale of Asteron Life Ltd., its New Zealand life insurance business, to Resolution Life NOHC for NZ$410 mn
Australian Competition & Consumer Commission moves to block hospital boycott of major insurers
The Australian Competition Commission intends to deny Catholic Health Australia’s request to allow its hospital members to boycott large private health insurers
Enstar’s Syndicate 2008 finalizes loss portfolio transfer deal with Atrium Syndicate 609
Enstar Group’s Syndicate 2008 has entered a loss portfolio transfer (LPT) agreement with Atrium Syndicate 609, managed by Atrium Underwriters
Insurance Australia Group secured a catastrophe reinsurance program for 2025
Insurance Australia Group Ltd. (IAG) secured a catastrophe reinsurance program for 2025 and provided up to A$10 bn ($6.25 bn) in coverage
PERILS releases final insured loss report for Australia Christmas Storms
PERILS has released its fourth and final estimate for the industry losses caused by the Australia Christmas Storms that impacted Victoria, New South Wales, and Queensland
ASIC orders compliance overhaul for Sanlam’s Australian unit over licensing breaches
The Australian arm of South African financial services conglomerate Sanlam Group will need to have its compliance processes reviewed by an independent expert
PERILS releases final insured loss estimate for Australia Christmas Storms
PERILS, an independent Zurich-based organization, has released its fourth and final industry loss estimate for the Australia Christmas Storms
Allianz Australia purchases RAA’s general insurance business and securing
Allianz Australia has partnered with the Royal Automobile Association of South Australia (RAA) in a deal valued at AUD$642.2 mn
Ardonagh Group completes acquisition of PSC Insurance, expanding APAC & UK platforms
The Ardonagh Group, a major independent insurance broking platform, has completed the acquisition of PSC Insurance Group Limited
Insurance Council of New Zealand urges government to strengthen Resource Management Act
The Insurance Council of New Zealand (ICNZ) is urging the government to ensure that changes to the Resource Management Act (RMA) will protect communities
Australian insurers faced $1.46 bn losses during 2024 catastrophe season
Australian insurers faced losses of A$2.19 bn ($1.46 bn) from four events during the 2023-2024 catastrophe season, according to the ICA
PERILS updated insurance industry loss for Australia Christmas Storms
PERILS released the third loss estimate for the Australia Christmas Storms. PERILS updated insurance industry loss estimate stands at AUD 1,563 million
Australian insurtech Honey Insurance raised $108 mn in Series A
Australian insurtech startup Honey Insurance, has raised US$108 mn in its Series A funding round, attracting significant interest from investors in the U.S.
PERILS estimated insurance loss for Australia Christmas Storms at $1 bn
PERILS, the Zurich-based providre of industry-wide catastrophe insurance data, has disclosed its second industry loss estimate for the Australia Christmas Storms
PERILS releases final insurance industry loss footprint for Cyclone Gabrielle
PERILS has disclosed its fourth and final industry loss estimate for Cyclone Gabrielle which impacted the North Island of New Zealand
PERILS disclosed insured loss estimate for Australia Christmas Storms
PERILS disclosed insurance industry loss estimate for the Australia Christmas Storms which affected for Victoria, New South Wales, Queensland
PERILS’ final estimate for insurance losses from North Island floods
PERILS, an independent organization based in Zurich, has released its final estimate of NZD 2,230 million for the insurance market losses from the North Island floods
Chris Mackinnon becomes Lloyd’s regional director for Asia Pacific Middle East & Africa
Chris Mackinnon, with over three decades of experience in the insurance industry, is poised to become Lloyd’s Regional Director for Asia Pacific, Middle East, and Africa
TOP 10 insurtech companies in Australia, based on total funding raised
The Australian insurance market is worth $100 bn annually and $7 trln worldwide, offering a massive opportunity for startups
PERILS estimates industry loss for the Southeast Australia floods at $620 mn
PERILS has disclosed its 4th and final insurance industry loss estimate for the Southeast Australia floods
Cyclone Gabrielle & North Island Floods insurance loss estimated at $2.4 bn
PERILS, a provider industry-wide catastrophe insurance data, has released the third loss estimate for Cyclone Gabrielle which impacted of New Zealand
PERILS estimates of AUD 6.5 bn for the devastating floods loss Eastern Australia
Catastrophe loss aggregator PERILS has released a final industry loss estimate of AUD 6.53 bn, for the devastating Eastern Australia floods that occurred over February
Southeastern Australia floods insurance loss estimates to AUD 840mn – PERILS
The catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Southeastern Australia floods, amounting to AUD 840 mn
Australian Regulators APRA and ASIC request life insurers to review premium increases
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have issued a joint letter to CEOs of life insurers
Sydney-based insurtech Butter Insurance secured $1.3 mn of pre-seed funding
Butter Insurance, a Sydney-based insurtech start-up, secured $1.3million worth of pre-seed funding; it has also become the first to embed an insurance solution
Insurance industry loss for the Southern Australia Severe Storms estimates in AUD 972 mn
Catastrophe loss aggregator PERILS has disclosed its fourth and final industry loss estimate for the Southern Australia Severe Storms which occurred from October 28-30
InsurTech Cover Genius has formed a partnership with the BNPL fintech, Zip
The Australian insurtech Cover Genius has joined forces with leading BNPL provider Zip to offer customers cover on purchases at the point of sale
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Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y