AXA acquired Gruppo Nobis, a retail P&C insurer in Italy
AXA announced an agreement to acquire Gruppo Nobis, a retail P&C insurance company in Italy with a diverse distribution network
🇫🇷 France Insurance News
AXA announced a €13 mn lead investment in Novocuff’s financing round
AXA IM Alts, a leader in alternative investments and AXA Investment Managers’ alternative business unit, manages over €184 bn ($197 bn) in assets
French insurance market ratings remain stable amid political uncertainty
French insurers’ ratings remain resilient despite current political uncertainties. Fitch stated no immediate implications for France’s ‘AA-’/Stable rating
Insurtech Estaly raised $3.8 mn in seed funding from OneRagtim
Insurtech Estaly has raised $3.8 mn in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors
AXA Investment Managers acquires W Capital Partners
AXA Investment Managers has agreed to acquire W Capital Partners, a New York-based private equity firm specializing in GP-led and direct secondaries transactions
Insurtech Lemonade launched of homeowners insurance in France
Insurtech Lemonade announced the launch of Homeowners insurance in France in partnership with BNP Paribas Cardif
M&A in UK insurance industry rose, in contrast to a EU slowdown
M&A in the UK insurance industry rose in 2023, in contrast to a wider slowdown in deal activity across Europe, the Middle East and Africa
PERILS updated insurance loss for Windstorm Ciarán (Emir) in Europe
PERILS has updated its insurance loss estimate for Windstorm Ciarán (also known as Emir) that impacted parts of Europe on 1-2 November 2023
Insurer AXA UK joined forces with insurtech Synectics Solutions
Insurer AXA UK is joining forces with Synectics Solutions, specialises in combating financial crime through innovative technology, including a syndicated fraud database
Moody’s estimates insured losses from Windstorm Ciarán $1–$1.6 bn
Moody’s RMS, the risk modeling and solutions company, estimates that insured losses from Windstorm Ciarán, also known as Emir, will likely fall between $1 bn and $1.6 bn
European insurance industry faced a year of changes and challenges
The European insurance industry faced a year of changes and challenges, with the top ten insurance companies remaining consistent while a noticeable reshuffling
AXA acquires Laya from Corebridge Financial – subsidiary of AIG
French insurer AXA has signed a deal to acquire Irish health insurance company Laya Healthcare (Laya) in a deal valued at €650 mn
AXA deploys AXA Secure GPT – service built on OpenAI Service
AXA announces the deployment of AXA Secure GPT, an internal service built on Microsoft’s Azure OpenAI Service
French AXA Group discusses strategic options for XL Re
French insurer AXA SA has been discussing strategic options for its XL Re unit, including a possible private sale or stock market listing
Verisk indicates that 45% of risks insured for flooding loss
Verisk, a data analytics provider, has revealed in a recent report that only a small percentage of damage to insured assets caused by the May floods in Italy
French P&C insurers are facing credit negative increase in drought losses
French P&C insurers are currently facing credit negative increase in drought losses this year amid forecasts of prolonged warm
European life insurers are at risk of significant losses on bond
European life insurers are at risk of significant unrealised losses on their bond portfolios due to higher interest rates
Trends at Europe’s largest insurers illustrate an upward movement in insurance pricing
Trends at Europe’s largest insurance companies illustrate an upward movement in commercial insurance pricing which is set to continue, albeit at a slower pace
French Insurance Market Outlook by Fitch Ratings
The ‘neutral’ outlook for the French life insurance sector reflects Fitch Ratings’ view that the fundamentals will be resilient in 2023
Reinsurance rates for property catastrophe business should increase by over 10%
Reinsurance rates for property catastrophe business should increase by over 10% at the January renewals, supporting underwriting margins against rising claims
SCOR reports a net loss of €509 mn for the 9M 2022
SCOR has reported a net loss of €509 million for the first nine months of 2022, as natural catastrophe claims increased to €907 million
Italian insurer Generali has completed its acquisition of La Médicale
Italian insurer Generali has completed its acquisition of La Médicale, the insurance subsidiary for healthcare professionals Crédit Agricole
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Artificial intelligence and digital technology are changing how life insurers distribute policies, assess risks and manage customer relationships
Life insurance distribution remains market-specific, with independent intermediaries gaining share in the US while bancassurance dominates France and Italy
Lloyd's outlines how insurers are adapting war risk coverage, cyber war exclusions and pricing to geopolitical threats, hybrid warfare and rising exposure accumulation
European insurers tighten riot coverage as civil unrest spreads, raising deductibles and limiting protection amid potential losses of €1.2 bn in France