Swiss Re shareholders approve all proposals at Annual General Meeting
Swiss Re’s shareholders approved all motions put forward by the Board of Directors at today’s Annual General Meeting
🇪🇺 Europe Insurance News
wefox finalised a funding agreement up to €170mn, led by Searchlight Capital
Insurtech wefox is close to finalising a funding agreement valued at up to €170mn, led by private equity firm Searchlight Capital Partners
Changes in U.S. tariffs may continue to strain insurers’ financial positions
Although a 90-day pause is currently in place, recent fluctuations in stock and bond markets caused by changes in U.S. tariffs may continue to strain insurers’ financial positions
EC approved a €1.5 bn reinsurance scheme to cover war-related transport risks in Ukraine
The European Commission approved a €1.5 bn reinsurance scheme to cover war-related transport risks in Ukraine. Poland backs the scheme, which supports insurance
Swiss Re joins GAM to co-manage $3bn Cat Bond and ILS Funds
Swiss Re will begin co-managing GAM Investments’ $3bn insurance-linked securities (ILS) funds, including the GAM Star Cat Bond UCITS Fund
How US tariffs could affect the insurance sector? J.P. Morgan forcast
J.P. Morgan recently examined how US tariffs could affect the insurance sector. The analysis shows that personal lines insurers, such as those offering auto and home insurance
SMBC ends Irish court battle over stranded aircraft in Russia, nears final insurer settlements
SMBC Aviation Capital has dropped litigation in an Irish court against some insurers over aircraft stranded in Russia. The company said it reached confidential commercial settlements
EIOPA launched a public consultation focused on AI governance in insurance
The European Insurance and Occupational Pensions Authority launched a public consultation focused on AI governance and risk management
Higher bond yields from defence spending support European insurers
Higher government bond yields driven by increased defence spending benefit most European insurers, according to Fitch Ratings
Hannover Re reported a strong performance in 2024: net income rises to EUR 2.3 bn
Hannover Re reported a strong financial performance in 2024, increasing its Group net income and proposing a 25% higher total dividend
Insurtech Peak3 accelerates expansion in the UK & Europe after $35 mn Series A
Insurtech Peak3 is pushing forward with its expansion in the UK and Europe after raising $35 mn in a Series A funding round
Hannover Re secured $20 mn cloud outage cat bond with Parametrix support
Hannover Re, an Europe’s top reinsurers, has secured $20 mn of retrocessional protection for losses from sustained cloud outages
Sompo Insurance grows European presence in Belgium and the Netherlands
Sompo Insurance, a Tokyo-based insurance group, has expanded its operations in Continental Europe by securing regulatory approval to provide primary insurance
Cinven nears completion of €3.5 bn Viridium Group sale to Allianz consortium
Cinven is finalizing the sale of Viridium Group, Germany’s largest life insurance administrator, to a consortium led by Allianz for €3.5bn
Swiss Re plans to sell shares of Definity Financial for C$655 mn
Swiss Re plans to sell 11.7 mn common shares of Definity Financial Corp., a Canadian property/casualty group, for C$655 mn
Allianz, BlackRock, T&D lead €3.5bn acquisition of Viridium, life insurance consolidator
A consortium led by Allianz SE, BlackRock, and Japan’s T&D Holdings will acquire Viridium Group, a German life insurance consolidator, for €3.5bn
PERILS released 3rd insurance industry loss estimate for the Central Europe and Italy floods
PERILS, a Zurich-based organization providing catastrophe insurance data, released its third industry loss estimate for the Central Europe and Italy floods
IK Partners acquires stake in Seventeen Group to expand UK insurance presence
Private equity firm IK Partners announced that one of its funds will acquire a minority stake in Seventeen Group, a London-based company
Insurance Europe criticizes EU Sustainability Risk Rules for duplication & cost
The European Insurance and Occupational Pensions Authority’s proposed sustainability risk rules would duplicate existing regulations and increase costs
Vienna Insurance Group posts higher 2024 profit despite €617 mn flood loss
Vienna Insurance Group boosted its 2024 profit despite taking a €617 mn hit from flooding caused by storm Boris in Central and Eastern Europe
Swiss Re published its Annual Report and Sustainability Report
Swiss Re published its Annual Report 2024, Sustainability Report 2024 and the invitation for the upcoming Annual General Meeting of shareholders
EU Insurance markets could benefit from public-private reinsurance for climate risks
EU insurance markets could gain from a proposed public-private reinsurance scheme for climate-related losses
Optio Group acquired Norwegian-based MGA S Insurance
Optio Group (Optio), an independent specialty MGA, has acquired Norwegian-based MGA S Insurance AS (S Insurance) for an undisclosed amount
Kera McDonald appointed Swiss Re’s Group Chief Underwriting Officer
Swiss Re announced that Kera McDonald, currently Chief Underwriting Officer of Swiss Re Corporate Solutions, is appointed Group Chief Underwriting Officer
Insurtech Alan increased an annual recurring revenue to €505 mn
French insurtech Alan reported €505mn in annual recurring revenue (ARR) for 2024, marking a 48% increase from €340mn in 2023
Trump`s “tariffs” could increase P&C insurance claims by $10 bn to $36 bn
Tariffs imposed by the Trump administration could increase claims costs for property and casualty insurance by $10 bn to $36 bn
ICEYE and SATIM partnered for AI-powered SAR imagery analysis products development
ICEYE and SATIM, a world-leading provider of AI-based solutions, announced the signing of partnership agreement for joint product development
Insurtech Weecover secured €4.2 mn to support international expansion
Weecover, a Barcelona-based insurtech specializing in embedded insurance, secured €4.2 mn in funding to support growth and international expansion
Wopta Assicurazioni, a phygital insurtech MGA, launched a €50 mn Series B
Italian insurtech firm Wopta Assicurazioni secured €12 mn in new funding through a club deal led by Belluzzo International Partners. The company also launched a €50 mn Series B
30% of the natural catastrophe budgets set by Europe’s reinsurers for 2025 may be eroded
Fitch Ratings estimates that 30% of the aggregate natural catastrophe budgets set by Europe’s big four reinsurers for 2025 may be eroded
Generali and BPCE form $1.97 tn asset management joint venture
Generali and French banking and insurance group BPCE have agreed to form a 50-50 joint venture, creating a global asset management operation with €1.9 tn
Canadian Fairfax becomes the 100% owner of Ukrainian insurers – ARX, ARX Life, UNIVERSALNA
Fairfax Financial Holdings has completed a deal with the EBRD and has become the 100% owner of Ukrainian insurance companies UNIVERSALNA, ARX, and ARX Life
Swiss Re’s Board of Directors proposes Morten Hübbe and George Quinn for election
Swiss Re’s Board of Directors proposes Morten Hübbe and George Quinn for election as new members of the Board at the upcoming AGM on 11 April 2025
DARAG acquires run-off portfolio from wefox Insurance
DARAG Group, a prominent legacy acquirer, has agreed to purchase a run-off portfolio from wefox Insurance AG. The portfolio includes motor damage, third-party liability
AXA become a founding patron of the Louvre Museum’s new Department
AXA Mutuelles d’Assurance has become a founding patron of the Louvre Museum’s new Department of Byzantine Arts and Eastern Christianities
Farm Bureau Insurance partnered with insurtech Akur8 to enhance pricing process
Farm Bureau Insurance Company of Idaho, the largest property-casualty insurer based in the state, has partnered with Akur8 to enhance its pricing process
Flood events accounted for $18.2 bn in international Q4 catastrophe losses
Flood events accounted for $18.2 bn in international fourth-quarter catastrophe losses, led by October floods in Valencia, Spain
Monte Chia raised funding to transform risk management for insurers and businesses
Monte Chia, an Italian insurtech startup, has closed a €500,000 pre-seed funding round. The investment efforts to revolutionize risk management
Perils revised its estimated insured losses for floods in Central Europe & Italy
PERILS has disclosed its second industry loss estimate for the floods in Central Europe and Italy to €2.08 bn
Munich Re is aiming for an IFRS net profit of €6bn in 2025
Munich Re is aiming for an IFRS net profit of €6bn in 2025. Group insurance revenue is expected to reach €64bn in 2025, and return on investment
Swiss insurtech Poncho secures $617K seed funding
Poncho, a Swiss insurtech startup focused on weather-based refunds for outdoor experiences, has raised $617,000 in seed funding
MGA Optio Group acquired of Den Hartigh Beheer & Exploitatie B.V.
The UK-based managing general agent (MGA) Optio Group has finalized its acquisition of Den Hartigh Beheer & Exploitatie B.V.
Allianz acquires 24% of MicroStrategy’s $600 mn notes
Allianz, Germany’s largest insurer, has purchased 24.75% of MicroStrategy’s $600 mn convertible note offering. The deal was finalized in March 2024
Zurich Insurance completed $600 mn acquisition of AIG’s personal travel business
Zurich Insurance Group has completed its $600 mn cash purchase of American International Group’s personal travel business. This move strengthens Zurich’s position
Vienna Insurance Group reports robust 9M 2024 financial performance
Vienna Insurance Group (VIG) released its 9M 2024 results, showcasing continued growth across key metrics despite challenges from natural catastrophe (NatCat) events
SaaS Agicap raised €45 mn in Series C funding led by AVP
SaaS platform for SMBs to manage and forecast their cash flows Agicap has raised €45 mn in Series C funding led by AVP. This investment aims to bolster Agicap’s presence in Europe
PERILS released final insurance loss estimate for Windstorm Ciarán (Emir) of €2.07 bn
PERILS, a provider of catastrophe insurance data, has released its final industry loss estimate for Windstorm Ciarán (Emir). This storm affected France, the UK, Belgium, and the Netherlands
Perils estimated insurance losses from Storm Boris in Central and Eastern Europe at €1.9 bn
Insurers in Central and Eastern Europe and Italy are facing estimated losses of €1.89 bn from Storm Boris, which brought devastating floods to the regions
Insurers face extensive financial impact from severe flooding in Spain
Insurers face extensive financial impact from extreme rain that led to severe flooding in eastern and southern Spain during late October, according to Aon
Munich Re faced €500 mn losses from Hurricane Helene
Munich Re faced losses of about €500 mn ($540.8 mn) from Hurricane Helene, impacting third-quarter profits due to above-average natural catastrophe expenses
Helvetia partnered with Coinnect to adopt its advanced Cyber Insurtech platform
Helvetia Group has partnered with insurtech Coinnect to adopt its advanced Cyber Insurtech platform, enhancing cyber risk underwriting and helping clients manage cyber risks
ICEYE reports over 2.6k buildings affected by flooding in Spain
ICEYE reports that over 2,600 buildings have been impacted by recent flooding in southeastern Spain
Vienna Insurance Group launched CyRiSo, a cybersecurity firm
Vienna Insurance Group has launched CyRiSo, a cybersecurity firm focused on small and medium-sized businesses. Christiana Bruckner and Michael Ganzwohl will lead CyRiSo
Fitch Ratings upgraded its outlook for Assicurazioni Generali
Fitch Ratings upgraded its outlook for Assicurazioni Generali S.p.A. to Positive, affirming the Insurer Financial Strength (IFS) Rating at ‘A+
French insurers’ ratings unchanged despite France’s revised negative outlook
The ratings of French insurers are unaffected by the recent revision of the Outlook on France to Negative, Fitch Ratings says, with the exception of CNP Assurances SA
Storm Boris flooding leads to €2-3 bn in insured losses across Europe
Insurers faced losses of €2 bn to €3 bn from flooding after Storm Boris hit Austria, Poland, and the Czech Republic last month, according to estimates from Verisk
French insurtech Alan reached a €1.4 bn valuation after latest Series D funding
French healthcare insurtech Alan has reached a €1.4bn ($1.7bn) valuation after its latest Series D funding round. Founded in 2016, Alan aims to bring transparency and fairness to healthcare through
Storm Boris caused €1.5-3 bn in insured losses in Central Europe
Storm Boris’s torrential rains and flooding likely caused more than €1.5 bn in insured losses in Central Europe, according to an Aon
Hannover Re anticipates reinsurance prices & conditions to remain on a stable level
Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025
Insurers faced significant threats of risks during the Paris Olympics
During the Paris 2024 Olympics insurers were on high alert over potential risks that could lead to event cancellations and significant insurance losses
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities