Insurance Europe reviewed of EuroCommission ESG Rating Regulation proposal
Insurance Europe and Pensions Europe welcome the measures included in the European Commission’s ESG Rating Regulation proposal
Insurance News
Aviva acquired Optiom O2, a canadian vehicle insurance MGA, of $124 mn
Aviva announces the acquisition of Optiom O2 Holdings from Novacap and other minority shareholders for consideration of CAD$170 mn
BNP Paribas Cardif acquires a 51% stake in BCC Vita life insurance in Italy
BNP Paribas Cardif will acquire a 51% stake in BCC Vita along with an agreement with BCC Banca Iccrea for the exclusive distribution
Vienna Insurance Group acquires an additional 35% in Corvinus’ Hungarian business
Vienna Insurance Group (VIG) has agreed to acquire an additional 35% stake in its Hungarian insurance business from Corvinus
SCOR generated EUR147 mn net income in Q3 2023
SCOR generated EUR147 million net income in Q3 2023, contributing to a strong nine-month performance with a net income of EUR 650 million
Talanx acquired of insurance business of Liberty Seguros in Brazil
Talanx‘s Retail International division has successfully finalised the acquisition of Liberty Seguros in Brazil. The acquisition signifies HDI’s significant advancemen
Allianz is suing Revolut for $13 mn after neobank breached of contract with insurer
German insurer Allianz is suing neobank Revolut for $13 mn, claiming the neobank was in breach of contract after it moved its customers
Artificial intelligence isn’t the main cause of insurance industry layoffs
The credit rating agency AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs
Howden launches new primary European Cyber & Tech E&O facility
Howden, the global insurance group, launches of one of the first dedicated European cyber and technology errors & omissions lineslips for primary business
The UK Government would reduce the rate of National Insurance social contributions
The UK Government would cut the amount of National Insurance social security contributions paid by 27 mn workers in a move that will save employees hundreds of pounds
Fitch Ratings’ German life insurance sector outlook is neutral
The neutral outlook for the German life insurance sector reflects Fitch Ratings’ expectation of a mixed operating environment, with improving investment yields
Global reinsurers providing less NatCat cover for European insurers
Global reinsurers have tightened their terms and conditions to limit their aggregate covers and the lower layers of their natural catastrophe protection
The U.S. Congress reauthorizated National Flood Insurance Program
The U.S. Congress passed a short-term reauthorization of the National Flood Insurance Program (NFIP) through Feb. 2 2024
Amazon Prime launched low-cost health care services from One Medical
Amazon announced a new Prime membership benefit that brings medical care to Prime members from One Medical, the health care business
2024 net combined ratio for P&C Insurance Market forecasts 104%
The 2024 net combined ratio for the property & casualty insurance industry is forecast to be 104%, according to Insurance Information Institute
US property & casualty insurers catastrophe losses in Q3 2023
The Allstate and Liberty Mutual Holding had the highest Q3 2023 catastrophe losses among US property and casualty insurers, with both topping the $1 billion
Top US life insurers in 2023 posted declines in revenue
Similar to the Q2 2023, the majority of the top publicly traded US life insurers posted year-over-year declines in revenue
Aon announced expansion of Climate Risk Advisory function
Aon announced the expansion of its Climate Risk Advisory function across the firm’s Risk Capital capability, to further serve clients’ advanced risk analytics
MetLife completed a $19 bn risk transfer transaction with Global Atlantic
MetLife has completed a $19 bn risk transfer transaction with Global Atlantic Financial Group, a retirement and life insurance company
The UK highlighted insurance as a critical component in minimising economic loss
The UK has set out a re-energised approach to international development in a white paper, aimed at working with partners to tackle global challenges in the years up to 2030
National Bank takes over key functions from National Commission for Financial Services
The Verkhovna Rada of Ukraine enacted legislation to dissolve the National Commission for State Regulation of Financial Services Markets
Marsh and Lloyd’s launched insurance coverage for export of Ukraine’s grain
Marsh announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain
Swiss Re: Electronic Health Records can speed up underwriting by 7 times
Studies from Swiss Re and leading life carriers reveal that Electronic Health Records (EHRs) can have a transformative impact on the traditional life & health underwriting
AXA XL launched of Water Impact and Sustainability Evaluation (WISE) tool
AXA XL Risk Consulting announced the launch of its Water Impact and Sustainability Evaluation (WISE) tool
Allianz announsed results: business volume in 9M 2023 rose by 4.7% to 122 bn euros
Allianz announsed results for 3Q and 9M2023. Total business volume in 3Q 2023 rose by 4.5% to 36.5 billion euros
Kin Insurance increases premium by 63% to $270 mn in 2023
Kin, the direct-to-consumer home insurance company built for every new normal, announced operating results through the third quarter ended September 30, 2023.
Lloyd’s launches Inclusive Futures Programme for Black & ethnically individuals
Lloyd’s has launched a comprehensive initiative aimed at fostering greater inclusivity and advancement opportunities for Black and ethnically diverse individuals
MetLife launches AI-platform MetLife Xcelerator
MetLife, a leading life insurance company, has announced the launch of MetLife Xcelerator Latin America. The new platform allows business partners
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
Insurance industry leaders forecast in 2024 high inflation and interest rates
Insurance industry leaders from across Europe forecast high inflation and interest rates, attracting and retaining talent, and digital transformation will have the greatest impact
Insured losses from Hurricane Otis estimated $3-10 bn
Verisk, a data analytics and technology provider, estimates industry insured losses to onshore property for Hurricane Otis will from $3 bn to $6 bn
Sensitive health information by 500K UK citizens shared with insurers
Sensitive health information donated for medical research by half a million UK citizens has been shared with insurance companies despite a pledge that it would not be
Mortgage fraud risk declined by 3.1% – CoreLogic Report
CoreLogic published its newest Mortgage Fraud Report, which found that mortgage application fraud declined 3.1% year-over-year compared to the second quarter
CoreLogic Home Price Index: U.S. home prices increased by 4.5%
CoreLogic, a global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index and HPI Forecast
PERILS estimates industry loss for the Southeast Australia floods at $620 mn
PERILS has disclosed its 4th and final insurance industry loss estimate for the Southeast Australia floods
Insurance costs of Storm Babet estimated to be between £450 and £650 mn
The estimates by PwC UK calculate the costs of damage due to the severe weather caused by Storm Babet to be between £450 and £650 million.
Fairfax Financial Holdings announces net earnings of $1 bn in Q3 2023
Fairfax Financial Holdings announces net earnings of $1,068.9 million ($42.26 net earnings per diluted share after payment of preferred share dividends)
Berkshire Hathaway reported a 9M2023 underwriting performance
Berkshire Hathaway posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing
Italian Insurance Market Review: 2023
Higher Lapses Drive Life Outflows, Average Motor Premiums to Grow Life net flows for Italian life insurers in 1H2023 was negative EUR10.7 billion
Gallagher reported its financial results for 9M 2023
Arthur J. Gallagher reported its financial results for the quarter ended September 30, 2023. Third quarter global insurance renewal premiums were up 10%
Chubb consolidated net insurance premiums of $13 bn in 9M2023
US insurer Chubb reported net income and core operating income for the quarter ended September 30, 2023 of $2.04 billion each, or $4.95 per share
Net income to Aon shareholders increased to $456 mn
Net income attributable to Aon shareholders increased 12% to $456 million, or $2.23 per share on a diluted basis, compared to $408 million
AON analyses natural hazard activity worldwide in the 9M 2023
AON launched its Q3 Global Catastrophe Recap report, which analyses natural hazard activity worldwide in the 3 quarter of 2023 and for the 9 months of the year
Syrona Health launched an artificial intelligence tool for mental health
Syrona Health has launched a voice-based artificial intelligence (AI) tool for mental health assessments that businesses can incorporate into their employee benefits
Extra challenges for insurers in the UK electric vehicle insurance market
Surging UK insurance premiums for electric vehicles pose a risk to their widespread adoption, analysts have warned
The economic drivers of the U.S. P&C insurance industry
The economic drivers of the U.S. property & casualty insurance industry could cumulatively expand faster than the nation’s gross domestic product (GDP) in 2024
Aon launched of Franchise Solutions program in North America
Aon has launches of Aon’s Franchise Solutions program in North America. Powered by CoverWallet technology, Aon’s franchise solutions are designed to better inform
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
Howden Ventures launched an innovative insurance products development
Howden has unveiled an innovative venture known as Howden Ventures, pending approval from Lloyd’s, aimed at accelerating insurance product development.
Insurance prices in Europe will have to rise, according to Lloyd’s
Prices for US reinsurance have risen by between 20% and 40% over the past year or so. In Europe, prices have risen by just 10-12%
EU supports of subsidizing premiums on the Caribbean parametric insurance
The European Union continues to provide support to Caribbean Catastrophe Risk Insurance Facility SPC as a means of subsidizing premiums on the parametric insurance
Israel will approve of $5 bn state guarantees for airlines’ war risk insurance
Israel’s parliamentary finance committee said it would debate the approval of state guarantees for providing war risk insurance for Israeli airlines
Reinsurance costs for Asia-Pacific insurers are rising due to frequency of weather losses
Asia-Pacific insurers plan to increase asset allocations to fixed-income investments over the next 12-18 months, in order to take advantage of rising yields
Dutch insurers compensates the effect of high inflation in insurance in 2023
Dutch insurers achieved solid results in 1H2023 on stable underwriting and better investment results, and maintained their very strong Solvency II ratio
AM Best and Fitch’s outlook for the Indonesia insurance market
AM Best has confirmed that it is maintaining a negative outlook on the Indonesia insurance segment. AM Best cities heightened reinsurance credit ris
Royal Bank of Scotland lost an appeal over unfair commissions by protection insurance
Royal Bank of Scotland (RBS) lost an appeal over unfair commissions that were charged to customers who were sold payment protection insurance (PPI)
Henderson Insurance, Hoffman Kool and Life Line Brokers are merging into a new entity
Henderson Insurance, Hoffman Kool Insurance and Life Line Brokers will combine to operate under the new banner of HK Henderson
Munich Re Green Tech completed the final certification of warranty insurance
Munich Re Green Tech Solutions has successfully completed the final certification of photovoltaic warranty insurance in collaboration with Sunova Solar
Insurance Capital Standard – most significant regulatory development for insurers in 2024
Finalisation of the Insurance Capital Standard (ICS), a new global solvency standard for internationally active insurance groups
Verisk launched of update to the ISO Businessowners program
Verisk, a global data analytics and technology provider, has announced the launch of its latest update to the ISO Businessowners (BOP) program
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