Scope raises $20 mn to expand AI workflows for inspection teams
London-based Scope raised €17.2 mn to expand its AI platform for testing, inspection, and certification workflows worldwide
🇪🇺 Europe Insurance News
Acrisure to cut 2,250 jobs by 2027 as AI reshapes operations
Acrisure CEO Greg Williams told employees the broker will cut about 11% of staff as it expands AI, automation, and digital platforms
AM Best says $100 bn loss needed to tighten reinsurance market
AM Best revised its global non-life reinsurance outlook to stable as property rates fall and capital remains strong without a major loss
UK funded reinsurance capital rules may cut life insurer appetite
UK PRA plans to lift capital charges on funded reinsurance to about 10% of annuity liabilities, raising doubts over future PRT use
Aon reshapes credit reinsurance business with global hub model
Aon is moving its credit reinsurance operations to a global hub-led structure, with Rupert Evans relocating to New York
American Global signs Lloyd’s quota share deal for health indemnity
American Global Insurance secured Lloyd’s quota share reinsurance for AGII’s healthcare indemnity portfolio, with syndicates taking 50%
Cyber insurance penetration among North American SMBs and SMEs remains low
55% of small and medium-sized businesses in North America lack basic email security protections. KYND found major cyber hygiene gaps among SMBs and SMEs
Fortegra backs insurtech Incept title insurance platform for UK property deals
Incept signed an underwriting deal with Fortegra for its UK title insurance platform, using Land Registry data to issue policies in seconds
OCTO and Sedgwick partner on telematics insurance claims management
OCTO and Sedgwick will combine telematics data and claims management services to improve accident intake, liability review, fraud checks, and claim costs
Howden buys Cybeta IP assets to expand US cyber insurance unit
Howden acquired Cybeta’s IP assets and cyber analytics talent to strengthen its US cyber insurance practice across underwriting and claims
BYD picks bolttech for embedded EV insurance in Europe
BYD named bolttech its preferred embedded insurance partner in Europe, starting in the UK before launches in Italy, France, Germany, and Spain
Italian fintech A-Cube raised €4 mn to expand tax reporting platform
Fintech A-Cube raised €4 mn led by P101 to expand its API-first tax reporting platform across Europe and add AI-driven compliance tools
Wopta Assicurazioni raises €5 mn to expand insurtech platform
Wopta Assicurazioni raised €5 mn, topping €20 mn since 2022, as it expands distribution, acquires brokers, and targets SMEs
Italian ViteSicure raises €2.5 mn to scale life insurtech
ViteSicure raised €2.5 mn in the first Series A tranche to expand life and protection insurance distribution, technology, and AI in Italy
Francis Scott Key Bridge in Baltimore loss hits $2.8 bn marine insurance market
The Baltimore Bridge settlement lifts the Dali loss above $2.8 bn, creating the largest single marine insured loss on record
MS Amlin launches property treaty consortium with $67.5 mn per-risk capacity
MS Amlin launched a Lloyd’s property treaty consortium, lifting per-risk capacity from $50 mn to $67.5 mn for property lines
Lloyd’s weighs disclosure on former CEO John Neal probe
Lloyd’s is considering how much to disclose from a Freshfields probe into former CEO John Neal, his conduct, and governance concerns
Insurtech Laka buys VeloLife assets to expand UK bike insurance
Laka acquired VeloLife assets to expand its UK bike dealer channel and advance its M&A strategy after a £14.1 mn Series B
Artificial intelligence plans outpace workforce investment, Aon says
Aon’s Human Capital Trends Study says employers expect AI to reshape skills, but most have not reskilled workers at the same pace
McGill expands aviation war insurance cover for grounded spares
McGill and Partners launched aviation war coverage for spare engines and equipment kept on the ground, closing a gap in traditional hull war policies
Global reinsurance capital reaches record $648 bn in 2025
Global reinsurers posted record 2025 profits and capital growth, with dedicated capital rising 11% to $648 bn, according to Gallagher Re
AI startup Pit raises $16 mn seed round led by Andreessen Horowitz
Pit raised $16 mn in seed funding led by Andreessen Horowitz to build custom AI software for enterprise workflows across major sectors
Belgian startup Tekst raises €11.5 mn Series A for enterprise AI workflows
Belgian AI startup Tekst raised €11.5 mn in Series A funding led by Elephant to expand process automation, product development, and global sales
CodeWords raises €7.6 mn in Seed funding to expand AI agent platform Cody
London AI agent platform CodeWords raised €7.6 mn in Seed funding to hire engineers, grow sales teams, and expand Cody for business automation
Artemis launches with $70 mn to rebuild SIEM around AI-native cyber threat detection
Cybersecurity startup Artemis has emerged from stealth with $70 mn in funding to challenge the traditional security information and event management market through an AI-driven security operations platform
PZU is acquiring MetLife Ukraine, the leading life insurer in the Ukrainian market
Polish PZU will acquire 100% of MetLife Ukraine, strengthening its life insurance position in Eastern Europe while MetLife continues normal operations until completion
European insurers and reinsurers raise private credit exposure to 5.8% of portfolios
S&P Global Ratings says European insurers are increasing private credit allocations while managing risk and liquidity constraints
Global cyber insurance nears pricing floor as risks and competition rise
The global cyber insurance market is approaching a turning point, according to Richard Clapham, as pricing declines, exposures grow, and threat activity remains elevated
Ripe launches ChatGPT app for Cycleplan cycling insurance
Ripe launched a ChatGPT app for its cycling insurance brand Cycleplan, allowing users to receive real-time quotes through a conversational interface
Stephen Fry injury insurance claim highlights event liability risks
Stephen Fry files £100k claim after fall at London tech event, raising scrutiny on safety controls and insurance coverage
Bank of England plans stricter capital rules for funded reinsurance
The Bank of England, through its supervisory arm Prudential Regulation Authority, outlined plans to tighten capital treatment for funded reinsurance deals
Germany health reform targets €16 bn in insurance savings – Friedrich Merz
Germany’s Cabinet approved a health care draft law aimed at limiting insurance premium increases, though doctors and patient groups call it austerity
Sompo backs insurtech Zego with $28 mn to develop telematics insurance in Japan
Sompo and Zego partner to build AI-driven, usage-based motor insurance products tailored for the Japanese market
Intuitech and UNIQA have unveiled NiQA, a next-generation AI claims platform
Intuitech and UNIQA have unveiled NiQA, a next-generation AI claims platform capable of handling complex insurance claims entirely autonomously
UNIQA raises solvency ratio to 275% after strong 2025
UNIQA increased premiums to €8.4 bn, lifted profit before tax to €516.4 mn, and strengthened its Solvency II ratio to 275% in 2025
UNIQA partners with insurtech bsurance to launch embedded insurance platform
UNIQA teams up with bsurance in Austria to integrate insurance directly into digital purchase journeys across e-commerce, retail, and travel
Insurtech Fulcrum acquires crypto platform Megaphone to deepen product capabilities
Fulcrum acquires Megaphone and hires its founders to strengthen product development as it scales software for insurance brokerages
Insurtech Flock launches a data-driven haulage fleet product with Admiral
Flock launches a data-driven haulage fleet product with Admiral, targeting one of the UK’s largest commercial vehicle segments
Allianz Turkiye deploys Nettle AI to accelerate property risk inspections
Allianz Turkiye adopts Nettle’s AI platform, cutting inspection turnaround times and delivering same-day structured risk data to underwriters
McLarens expands affiliate network with partners in Channel Islands and Georgia
McLarens adds Quantum Adjusting and BE Group as affiliates, strengthening local claims expertise in the Channel Islands and the Caucasus
VIG Re posts strong 2025 profit and launches VIGRe28 growth strategy
VIG Re reported EUR 49 mn in pre-tax profit for 2025, improved underwriting results, and launched VIGRe28 to drive expansion across Europe and Asia
DXC launches AI insurance apps with ServiceNow to speed insurer transformation
DXC introduced three Assure Smart Apps built on ServiceNow, targeting claims, customer engagement and underwriting with faster deployment and lower manual workload
ICMR values Lloyd’s above $100 bn in latest syndicate market review
ICMR said Lloyd’s would be worth more than $100 bn if listed, as record profits and stronger returns sharpen focus on capital access and syndicate performance
Life reinsurance capital tops $160 bn as third-party investors expand
Guy Carpenter says global life reinsurance capital is set to rise above $160 bn in 2025, with third-party backing and asset-intensive deals driving faster growth
WTW warns general aviation rate cuts could fade as capacity comes under pressure
WTW said general aviation insurance stayed competitive in early 2026, though major losses, M&A activity and reinsurance pressure could tighten capacity and slow rate reductions
EIOPA and ESM propose EU catastrophe pool to narrow insurance gap
EIOPA and the ESM proposed an EU-wide catastrophe risk-sharing framework to improve insurance access, support affordability and keep private insurers at the centre
Verisk says claims fell in 2025 as losses grew more concentrated
Verisk reported lower insurance claim volumes in 2025, though wildfire, motor theft, gig work and newer liability risks drove tougher loss patterns
Vienna Insurance Group reshapes leadership across group and Austrian subsidiaries
Vienna Insurance Group approved board changes across the group, Wiener Städtische Versicherung and DONAU Versicherung, with all appointments taking effect on 1 July 2026
Aon sees Lloyd’s legacy deal activity picking up as capital discipline tightens
Aon expects legacy transactions at Lloyd’s to accelerate as softer reinsurance conditions, M&A activity and focus on historic risk push carriers toward balance sheet action
Westfield Health nears £100 mn revenue as it launches Evolve platform
Westfield Health introduced Evolve, a digital platform for intermediaries, as revenue approaches £100 mn and demand grows for flexible health benefits
Herbert Ventures launches €32.5 mn fund to back early-stage DeepTech founders
Zurich-based Herbert Ventures launched a €32.5 mn fund targeting pre-Seed and Seed startups across Europe, with a focus on fast execution and founder alignment
MillTech secures €51 mn from Apax to expand FX risk platform
London-based MillTech raised €51 mn from Apax Digital Funds, valuing the firm at €277 mn as it scales AI-driven FX hedging and treasury solutions
Round Treasury raises €5.1 mn to scale AI finance automation platform
London-based Round Treasury secured €5.1 mn in Seed funding to expand its AI-driven platform and launch Agentic Workflow Builder and Autonomous Payroll
Nesto raises €11 mn to scale AI workforce platform for hospitality
Karlsruhe-based Nesto secured €11 mn from Expedition Growth Capital to expand its AI-driven workforce management platform across Europe
Intelligent AI enters US market to tackle property underwriting data gaps
Intelligent AI expanded into the US via the Connecticut InsurTech Corridor, targeting incomplete submissions and data quality issues in property underwriting
Aon expands data center insurance program to $3.5 bn capacity
Aon increased its Data Center Lifecycle Insurance Program to $3.5 bn, adding coverage for operational data centers as digital infrastructure risks grow
Ukrainian Obriy AI raises $500k to scale multi-agent platform for enterprise & government
Kyiv-based Obriy AI secured $500,000 in pre-seed funding from N1 Investment Company to expand SURE, its workflow automation platform for enterprise and public-sector use
Standard Life agreed to acquire Aegon UK for £2 bn in retirement savings push
Standard Life agreed to acquire Aegon UK for £2bn, creating the UK’s largest retirement savings and income business with 16mn customers
Autonomous drivetech Wayve added $60 mn to Series D, lifting valuation near $9 bn
UK autonomous driving firm Wayve added $60mn to its Series D, lifting valuation near $9bn as it moved toward robotaxi trials and wider vehicle deployment
Aveni launched the Agent Assurance Expert Council to tackle agentic AI in finance
Scottish fintech Aveni launched the Agent Assurance Expert Council to shape controls, transparency and trust around agentic AI in financial services
The EU delayed parts of the AI Act as US AI funding surged, widening Europe's gap in capital, compute, talent and data for startups
Clyde & Co’s 2026 survey shows how geopolitical volatility, AI and regulation are reshaping business risk, resilience and operational decision-making
Over 40% of agentic AI projects will be canceled by the end of 2027, due to escalating costs, unclear business value or inadequate risk controls
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds