FCA revised enforcement insurance guidelines and expands transparency measures
FCA released a revised version of its enforcement guidelines, reducing the document by 250 pages through the removal of duplicate content and more concise formatting
Insurance News
U.S. annualized premium for individual life insurance reached $3.9 bn in Q1 2025
New annualized premium for individual life insurance in the U.S. reached $3.94 bn in the first quarter of 2025, marking an 8% increase compared to the same period in 2024
Florida Court backs Amerisure’s denial of condo defect claim, rejects $8.5 mn settlement
A federal court in Florida upheld Amerisure Insurance Co.’s denial of coverage in a dispute over construction defects at a condominium complex
BaFin reviews German insurers’ exposure to alternative assets
Germany’s financial regulator BaFin is reviewing the investment strategies of 30 to 40 insurance companies with unusually high exposure to alternative assets
EIOPA proposed guidelines on artificial intelligence use in insurance
European Insurance and Occupational Pensions Authority (EIOPA) has proposed draft guidelines on artificial intelligence use in insurance
Mid-May storms drive up U.S. insured losses to $4-7 bn
Severe convective storms across central U.S. states in mid-May, including destructive tornadoes and hail, likely caused insured losses between $4 bn and $7 bn
Canada launches changes to Life Insurance Capital Adequacy Test
Canada’s Office of the Superintendent of Financial Institutions (OSFI) launched three consultations and introduced changes to the Life Insurance Capital Adequacy Test
Louisiana Senate deferred proposed insurance bills to cut auto insurance rates
Louisiana Senate Judiciary A Committee deferred four proposed insurance bills after none of the authors appeared to present them
New York court ordered Millennia Assurance to deposit $4.75 mn
New York court ordered Millennia Assurance Inc. to deposit $4.75 mn in collateral into a trust account after siding with New York Marine and General Insurance
Canada expands data pooling program that uses AI to detect potential fraud
The Canadian Life and Health Insurance Association (CLHIA) is expanding its data pooling program that uses artificial intelligence to detect potential fraud
Louisiana enacts sweeping auto insurance reforms to cut rates
Louisiana Governor Jeff Landry signed a six-bill legislative package aimed at lowering automobile insurance costs by limiting certain legal claims
Canadian life insurance new premium rose 13% YoY to C$508 mn
Canadian life insurance new annualized premium rose 13% year over year to C$508 mn in the first quarter of 2025
California FAIR Plan paid $2.7 bn after receiving more than 5,000 claims from LA wildfires
California FAIR Plan paid $2.7 bn after receiving more than 5,000 claims from the Palisades and Eaton fires in Los Angeles
Sweden tightens insurance controls on Russian vessels in the Baltic Sea
Sweden is increasing oversight of insurance coverage for Russian vessels operating in the Baltic Sea. This was reported by Swedish radio outlet Ekot
Glenn Renwick, former CEO of Progressive, died following car accident
Glenn Renwick, the former President, CEO and Chairman of the Board of the Progressive Corporation, has died at age 69 following a car accident in Florida
Georgia signed new law that expands how captive insurers can operate
Georgia Governor Brian Kemp signed a new law that expands how captive insurance companies can operate
MetLife appoints Jane Slusark as chief communications officer
MetLife appoints Jane Slusark as chief communications officer. She will manage global communications, covering internal messaging
California insurance department forms task force to set smoke damage standards
The California Department of Insurance (CDI) is forming a task force to develop clear rules for insurance coverage and cleanup procedures related to smoke-damaged homes
Alberta approves no-fault auto insurance amid public & legal pushback
Alberta lawmakers have passed legislation to introduce a privately operated no-fault auto insurance model, focusing on a “care first” approach
Montana is changing how it taxes captive insurance companies
Montana is changing how it taxes captive insurance companies. A new law signed by Gov. Greg Gianforte replaces the flat-rate system with a tiered premium tax model
Massachusetts blocks workers’ comp rate hike, saving businesses $80 mn
Massachusetts Insurance Commissioner Michael Caljouw denied a proposed 7.1% rate increase from the Workers’ Compensation Rating and Inspection Bureau of Massachusetts
Bupa CareConnect signs four strategic partnerships with global healthtechs
Bupa CareConnect, the Kingdom’s leading cooperative health insurance provider, announced the signing of four strategic partnership agreements with global health tech companies
CBO: Proposed ACA changes could cut insurance coverage and federal deficit
If the proposed changes to the Affordable Care Act marketplace move forward, 1.9 million more people could lose health insurance, and nongroup coverage could fall by 2.2 million annually
Policyholders push for probe into State Farm’s LA Wildfire claim delays
A group of policyholders affected by wildfires in Los Angeles is calling on Insurance Commissioner Ricardo Lara to act on his statement about a possible investigation
Marsh sues former aviation head and WTW over alleged employee poaching
Marsh USA LLC is accusing the outgoing head of its aviation and space practice group of conspiring with Willis Towers Watson executives to woo away a significant portion of its aviation brokers and clients
Iowa signed new law regulating auto glass repairs and insurance claims
Iowa Gov. Kim Reynolds signed a new Senate File 573 into law, establishing new regulations for auto glass repair and insurance claims
California Insurance Commissioner approved State Farm’s request for rate increases to 38%
California Insurance Commissioner Ricardo Lara approved State Farm General Insurance Co.’s request for interim rate increases ranging from 15% to 38%
U.S. Court issued split ruling on Boy Scouts’ $2.46 bn abuse settlement
The U.S. Court issued a split decision in a case involving two sets of insurers objecting to the Boy Scouts of America’s $2.46 bn sexual abuse settlement
FCA plans to update insurance regulations in the UK to cut outdated rules
The U.K. Financial Conduct Authority (FCA) plans to update insurance regulations to cut outdated or duplicative rules
Gallagher developed a $1 bn insurance industry solution to help airlines avoid grounding
Insurance broker Gallagher developed a $1 bn industry solution to help airlines avoid grounding their fleets immediately after a hostile nuclear detonation
Swiss Re reported a net income of $1.3 bn and ROE of 22.4% for Q1 2025
Swiss Re reported a net income of USD1.3billion and a return on equity (ROE) of 22.4% for the first quarter of 2025
MetLife, in partnership with Aura, launched digital cyber safety tool for children
MetLife, in partnership with Aura, has launched a digital safety tool designed to help parents monitor and support their children’s online activity
Insurance broker HUB International secured a $1.6 bn minority equity investment
HUB International, a leading North American insurance brokerage that provides employee benefits, business, and personal insurance products and services, has secured a $1.6 bn minority equity investment
New York Convention overrides Louisiana arbitration ban in insurance disputes
The U.S. Second Circuit Court of Appeals reversed its earlier decision, ruling that arbitration clauses established under the New York Convention
New York Court confirms Rhode Island law applies in Zurich insurance dispute over $8.6mn claim
The New York Supreme Court Appellate Division upheld a lower court’s decision confirming that the applicable law in an insurance dispute
Florida Legislature passes bill on foster care insurance coverage reform
The Florida Legislature passed a bill aimed at addressing foster care insurance coverage by limiting liability for subcontractors involved in the system
Amanda Lyons appointed as CEO of Aon Reinsurance Solutions in Bermuda
Aon, a global professional services firm, announced that Amanda Lyons had been appointed CEO of Aon Reinsurance Solutions Limited in Bermuda
MIB is acquiring Clareto from Munich Re Life US
MIB, a provider of data-focused services for the life insurance sector, is acquiring Clareto from Munich Re Life US, a subsidiary of Munich Re
MetLife reported 10% increase in Q1 net income, reaching $879 mn
MetLife reported a 10% increase in first-quarter net income, reaching $879 mn, supported by a net gain from derivatives and growth in premiums and fees
AXA XL reported 7% revenue growth in Q1 2025, reaching €21 bn
AXA XL reported a 7% increase in gross written premiums and other revenues in Q1 2025, reaching €21bn. This included a 12% rise in AXA XL Reinsurance premiums
U.S. annuity sales reached $105.4 bn in Q1 2025
U.S. annuity sales reached $105.4 bn in the first quarter, coming within 1% of the record set in Q1 2024, according to preliminary data from LIMRA
U.S. Court revives lawsuit against Kinsale Insurance over shooting settlement delay
A federal appeals court ruled that a jury should hear a bad-faith lawsuit against Kinsale Insurance Co., which faces accusations of failing to make a timely settlement offer related to a shooting incident
Florida lawmakers propose attorney fee shift in insurance disputes via mining legislation
Provisions altering the rules for awarding attorney fees in Florida have been added to legislation originally focused on procedures for phosphate mining litigation
Louisiana approved several insurance-related bills focused on legal reforms
The Louisiana House of Representatives approved several insurance-related bills focused on legal reforms, covering areas such as trial evidence rules and limits on specific types of damage awards
Allstate reported Q1 2025 net income of $566 mn attributable to common shareholders
Allstate Corp. reported Q1 2025 net income of $566 mn attributable to common shareholders, a 52.4% decline from the previous year
Hanover Insurance Group reported Q1 net income of $128 mn
Hanover Insurance Group Inc. reported first-quarter net income of $128.2 mn, up from $115.5 mn a year earlier
California Assembly Insurance Committee approved the California Safe Homes Act
The California Assembly Insurance Committee approved the California Safe Homes Act with a 16-0 vote. The legislation, backed by the insurance industry
Louisiana passed House Bill 148 to give the insurance commissioner more authority
Louisiana’s House of Representatives passed House Bill 148, which would give the insurance commissioner more authority to reject rate filings considered excessive
AIaaS insurtech CLARA Analytics announced new subrogation detection capabilities
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurance claims optimization, announced game-changing subrogation detection capabilities
Truss Peak acquired Leaders Life Insurance, based in Oklahoma
Truss Peak Holdings LLC, through its subsidiary TPH Insurance Hold Co. LP, has acquired Leaders Life Insurance Co., based in Tulsa, Oklahoma
Chubb, Zurich, and National Indemnity launch $100 mn excess Casualty Insurance Facility
Chubb, Zurich North America, and National Indemnity Co. have introduced an excess casualty facility offering up to $100 mn in lead excess casualty insurance capacity on a claims-made basis
U.S. insurance sector ends 6M job growth streak with April 2025 decline
The U.S. insurance sector reported a decrease of 100 positions in April compared to March, ending a six-month period of job growth
U.S.Supreme Court to rule on class action standards in State Farm case
The U.S. Supreme Court will review whether plaintiffs in a case against State Farm Automobile Insurance Co. must demonstrate actual financial harm
Justice Department accuses major insurers of $100 mn+ Medicare advantage kickback scheme
The U.S. Department of Justice has accused several major health insurers of spending hundreds of millions in kickbacks to influence large broker firms to enroll individuals in their Medicare
Secure Family Futures Act would allow life insurers to treat debt investments
The Secure Family Futures Act, reintroduced in both chambers of the U.S. Congress, would allow life insurers to treat debt investments
Oregon reconsider expanding Trade Practices Act to include insurance
Oregon legislators are again reviewing a proposal that would bring the insurance industry under the scope of the state’s Unlawful Trade Practices Act
Global insured losses could exceed $300 bn in a peak year – Swiss Re
Swiss Re warned that insured losses could exceed $300bn in a peak year, underscoring the essential role of the reinsurance sector, which holds $500bn in capital
U.S. workplace insurance and annuity sales rise in 2025, setting multiple records
Workplace life, disability, and supplemental health insurance products in the U.S. recorded a fourth consecutive year of growth in 2024
April severe weather brings widespread hail and tornado damage – Aon
Severe weather in the second half of April caused significant property damage across several U.S. states, with insured losses expected to reach hundreds of millions of dollars
Texas Senate passes Bill 1643 requiring regulatory approval for insurance rate changes
The Texas Senate has passed Senate Bill 1643, which would shift the state’s insurance rate-setting system from file-and-use to a prior approval model
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