One in four Brits unaware if homes face flood risk or storm damage, ABI warns
ABI survey finds millions unprepared for storms and flooding, with costly claims already hitting £424mn in 2025
Insurance News
ABI urges FCA to clarify targeted support rules for pensions and investments
ABI backs FCA’s push for targeted support but warns firms need clearer rules, proportionate requirements, and consistent language to deliver at scale
ABI backs Pension Schemes Bill but urges MPs to tighten safeguards
ABI supports the UK’s Pension Schemes Bill, calling for stronger rules on Superfunds, clear timelines, and measures to keep savers first.
Aon launches upgraded Event Analytics to sharpen catastrophe response
Aon unveils an advanced Event Analytics platform with real-time loss data, mapping tools, and historical storm simulations to strengthen insurers’ disaster decisions
Verisk warns insurers: property loss risk tops $152bn annually
Verisk says insured catastrophe losses hit $152bn globally, with storms, wildfire, and inflation pushing risk into uncharted territory for insurers.
Bain Capital to buy insurance platform Jensten Group, plans tech and M&A push
Bain Capital moves to acquire U.K.-based Jensten Group, expanding its insurance distribution play with fresh capital and growth strategy
Insurance Australia Group seals A$855 mn deal for RACQ Insurance
IAG buys 90% of RACQ Insurance for A$855 mn, adding 840 staff and securing a 25-year underwriting partnership in Queensland
Insurance Europe warns draft Solvency II rules risk undermining EU growth goals
Insurance Europe has warned that the European Commission’s draft Level 2 measures for Solvency II fall short of political commitments and could stall economic growth
Marsh McLennan Agency expands in Tennessee with Robins Insurance deal
Marsh McLennan Agency (MMA), the middle-market subsidiary of Marsh, has acquired Robins Insurance, a Nashville-based independent brokerage
NAMIC backs Bill elevating FEMA to cabinet-level status, expanding disaster reforms
The National Association of Mutual Insurance Companies is backing a sweeping reform package that would elevate the Federal Emergency Management Agency to a cabinet-level post reporting
Illinois upholds Arkansas pharmacy reimbursement rule against ERISA challenge
A federal judge in Illinois dismissed a Teamsters-backed complaint that sought to overturn Arkansas’ pharmacy benefit manager rule on ERISA preemption grounds
Canada faces C$212 mn in storm losses as IBC urges stronger resilience measures
Severe thunderstorms that swept through Montreal and other parts of Quebec on July 13 caused insured losses of almost C$120 mn
Nevada Insurance Regulator hit by ransomware attack, state systems disrupted
The Nevada Division of Insurance remains offline after a ransomware attack forced multiple state agency systems to shut down
Australian ASIC cuts 9,240+ pages of rules, pushes simpler compliance for Firms
The Australian Securities and Investments Commission (ASIC) has scrapped more than 9,240 pages of regulations since January as part of an overhaul aimed at reducing complexity for businesses
Louisiana blocks Chubb Bermuda’s push to move COVID-19 insurance case to London
A Louisiana state court issued a temporary restraining order preventing Chubb Bermuda Insurance from enforcing an arbitration clause that sought to move a COVID-19 business interruption in London
Bank of England and Accenture complete RTGS upgrade after £35.2 tn processed
The Bank of England, the United Kingdom’s central bank, and Accenture have finalized the transformation of the Real-Time Gross Settlement service
Cat Bond issuance tops $21 bn in 2025, marking the most active year in the history of ILS
Aon reported that catastrophe bond issuance surpassed $21 bn during, marking the most active year in the history of the ILS market
Perils rolls out typhoon loss forecasting tool for Japan
Zurich-based catastrophe data provider PERILS has launched a new forecasting platform that delivers real-time industry loss estimates for typhoons in Japan
ABI: UK travel insurers paid £472 mn across 500K claims
Travel insurance delivered significant financial protection in 2024, with members of the Association of British Insurers paying £472 mn across more than 500,000 claims
Florida approves Viceroy Preferred as 15th new homeowners insurer since 2022
Florida regulators have cleared another entrant into the state’s homeowners insurance market. Viceroy Preferred Insurance Co. received approval to launch as a domestic carrier
Cavello Bay Re sues Aspen over $400 mn reinsurance dispute
Cavello Bay Reinsurance, a Bermuda-based subsidiary of Enstar Group, has filed a $400 mn lawsuit against Aspen Insurance Holdings and several affiliates
Sompo Holdings buys Aspen Insurance in $3.5 bn cash deal
Sompo Holdings will acquire Aspen Insurance Holdings for $3.5 bn in an all-cash transaction, marking one of the largest recent cross-border insurance deals
Farmers Insurance says 1.1 mn policyholders affected in vendor data breach
Farmers Insurance disclosed that personal data from more than 1.1 mn policyholders was accessed during a breach at a third-party vendor
Illinois bans life insurers from denying final-expense coverage over felony records
Illinois enacted House Bill 2425, which prohibits final expense life insurers from denying coverage, limiting benefits, or charging different rates solely due to a felony conviction history
Steadfast expands into U.S. with majority stake in Novum Underwriting
Cleveland-based Novum Underwriting Partners, a managing general agent and wholesale brokerage, has become part of Steadfast Group’s network after the Australian insurance giant
Owners Insurance seek to avoid defending dude products in “Assembled in USA”
Owners Insurance Company and Auto-Owners Insurance Company have taken their policyholder, Dude Products, to federal court in Chicago
Anthem, UnitedHealthcare filings put pressure on Colorado’s health insurance market
Colorado’s individual health insurance market is bracing for disruption as filings from UnitedHealthcare’s Rocky Mountain HMO and Anthem’s HMO Colorado
Illinois property owner sues Cincinnati Insurance over $215K wind damage claim
Lincoln Place Capital has filed a lawsuit against The Cincinnati Insurance Company, alleging the carrier refused to pay for wind damage and delayed resolution of a $215,450 claim
Verisk and Legentic roll out insurance fraud detection tools for U.S. Insurers
Insurance fraud costs U.S. consumers an estimated $308.6 bn every year, putting pressure on carriers to adopt more advanced detection systems
Jencap’s $5 mn motel fire payout stands after Appeals Court closes door
he Eighth Circuit Court of Appeals has ended a long-running battle over who should bear responsibility for a $5mn payout tied to a motel fire in Brinkley, Arkansas
Progressive and Protective face $6 mn liability clash after bayshore mall ruling
A federal court ruling and a brewing payout fight have drawn Progressive and Protective Insurance into a high-stakes professional liability dispute
KCC warns $100 bn hurricane losses are inevitable for U.S. insurers
KCC, a specialist in catastrophe risk modelling, has released new analysis on the likelihood of U.S. hurricanes driving insured losses above $100bn
Aon pooled employer plan hits $5 bn in 401(k) assets as adoption accelerates
Aon said its pooled employer plan (PEP) has reached $5bn in live and committed U.S. 401(k) assets since launching in 2021. The platform now covers more than 130 employers
Louisiana’s approved private passenger auto insurance rates dropped 2.3%
Louisiana’s approved private passenger auto insurance rates dropped 2.3%, according to Insurance Commissioner Tim Temple. The decline follows a fall in accident frequency
Alabama’s fortified homes program proves insurance savings, spurs nationwide adoption
Homes built to IBHS fortified standards cut claims severity by 15%–40% and reduce loss frequency by at least 55%
Berkshire Hathaway invests $1.57 bn in UnitedHealth Group
Berkshire Hathaway disclosed a $1.57bn investment in UnitedHealth Group after acquiring 5.03mn shares, according to filings with the SEC
Health insurers pull back from Medicare Advantage amid cost pressures
Health insurers are scaling back participation in Medicare Advantage (MA), cutting benefits, and tightening provider networks as rising medical costs
Delaware Supreme Court rules insurers have no duty to cover CVS in opioid lawsuits
The Delaware Supreme Court has ruled that insurers are not obligated to defend or indemnify CVS Health Corp. against opioid-related lawsuits brought by government entities
CatIQ estimates loss for Hurricane Debby floods: C$2.806 bn in insured damages
The flooding followed the remnants of Hurricane Debby and has generated total insured losses of C$2.806 bn, a slight decrease from the previous estimate of C$2.817 bn
Montana Court: Victory Insurance broke state law in workers’ comp shift
The Supreme Court of Montana has upheld regulatory findings that Victory Insurance Co. violated state insurance law by canceling workers compensation policies without consent
C$92 mn in insured losses from Calgary Hailstorm raises pressure on auto insurance
The July 13 hailstorm in Calgary caused an estimated $92mn in insured losses, according to preliminary data from Catastrophe Indices and Quantification
Jasper Wildfire insured losses reach $1.3 bn amid delayed reconstruction
Insured losses from the Jasper wildfire have reached $1.3bn, according to updated figures released by Catastrophe Indices and Quantification
NAIC Task Force Reconsiders Life Insurance illustration guidelines
The NAIC Life Actuarial Task Force is revisiting Actuarial Guideline 49-A (AG 49-A), aiming to tighten rules around life insurance illustrations and impose consistent disclosure standards
Arthur J. Gallagher ordered to pay $50 mn earnout after Delaware Court ruling
Arthur J. Gallagher & Co. must pay a $50mn earnout under terms of its acquisition of Patent Insurance Underwriting Services (PIUS) and Newlight Capital
Swiss health insurer Klug announced bankruptcy and will cease operations
Swiss health insurance company Klug has announced bankruptcy and will cease operations at the end of the year. The company, with a 107-year history and around 9,300 insured members
Reliable Transportation Association rolled out a Physical Damage auto insurance program
Reliable Transportation Association (RTA), a managing general agent and Lloyd’s of London coverholder, has rolled out a Physical Damage insurance program for commercial auto
Severe Convective Storms inflicted $58bn in insured losses – ZestyAI’s research
Severe Convective Storms (SCS) inflicted $58bn in insured losses in 2024, surpassing hurricanes and ranking as the second-costliest year on record for these events
Marsh launched indemnification coverage for investbanks within D&O insurance
Marsh introduced a new indemnification coverage for investment banks within its directors and officers liability (D&O) insurance program
Prudential signed $4 bn longevity risk transfer deal with NN Life & Pensions
Prudential Financial’s subsidiary signed a $4 bn longevity risk transfer deal with NN Life & Pensions, part of NN Group
Howden confirmed the successful repricing of its $3.1bn USD Term Loan B
Howden Group, the global insurance intermediary, has confirmed the successful repricing of its $3.1bn USD Term Loan B due 2031 and its £765m Revolving Credit Facility
48% of insurers skip licensing catastrophe models despite record losses – Aon
Aon’s Catastrophe Risk Management Survey found that 48% of insurers do not license catastrophe models, and only 27% maintain dedicated model evaluation teams
Factory Mutual Insurance faces $100 mn business interruption claim over Texas petrochemical blast
Factory Mutual Insurance Co. must defend against a $100mn business interruption claim tied to a 2019 explosion at a Texas petrochemical plant
Lancashire names new CEOs in UK and Bermuda as leadership transitions begin
Lancashire Syndicates and Lancashire Insurance Co.will see a change at the top in early 2026. Rachel Sabbarton will take over as CEO of Lancashire Syndicates
Manulife reports strong 2Q2025 earnings, recording net income of $1.8 bn
Manulife Financial Corporation delivered a solid second quarter in 2025, recording net income of $1.8 bn, a sharp $0.7 bn increase over the same period last year
Insurance losses from the floods in South Korea pressures on non-life insurers
The estimated insurance losses from the unexpectedly severe floods in South Korea will place pressure on the financial performance of the country’s non-life insurers
Manulife Financial acquires 75% stake in Comvest Credit Partners for $937.5 mn
Manulife Financial Corp. will acquire a 75% stake in Comvest Credit Partners for $937.5 mn, a move aimed at expanding its private credit platform
AIG navigates Russia-related aviation claims stemming from stranded aircraft
AIG continues to navigate Russia-related aviation claims stemming from aircraft stranded after the 2022 invasion of Ukraine
MetLife reports 2Q 2025 results with strong international growth
MetLife announced second-quarter 2025 results that reflect continued execution of its New Frontier strategy, building value for customers and shareholders despite a softer earnings quarter
Assicurazioni Generali reported higher H1 2025 earnings driven by growth across all business units
Assicurazioni Generali reported higher H1 2025 earnings driven by growth across all business units. The Italian insurer is reviewing a proposed €6.3 bn sale of its banking arm
StarStone Insurance fights coverage in view SPAC litigation
StarStone Specialty Insurance has filed suit in federal court, aiming to avoid coverage obligations tied to a high-profile SPAC merger involving smart glass company View Inc
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