Bank of England to gain powers to manage demise of UK large insurers
The UK government said it would start work on setting up new rules specially designed to prevent a big insurance company collapse from crashing the financial system
Insurance News
David Skinn appointed as a Non-Executive Director at Prestige Underwriting
David Skinn has been appointed as a Non-Executive Director to the Board at Prestige Underwriting Services
Motor insurance industry of Malaysia will grow to $3 bn in 2027
The motor insurance industry of Malaysia is set for notable gains over the next few years, growing to US$3 billion in 2027
Aon completed a parametric insurance for Government of Puerto Rico
Aon has announced the completion of a historic parametric insurance program for the Government of Puerto Rico
Generali acquires of major asset manager Conning Holdings from Cathay Life
Generali has announced its acquisition of Conning Holdings, a global asset manager for insurance and institutional clients, from Cathay Life
Unprecedented riots in France hits to date for insurers €700 mn loss
After the start of the unprecedented riots in France, ~12000 insurance claims were reported. The total cost of claims declared to date has hit €650 mn
10 Postulates of Arsenal Insurance’s Success
Ukrainian insurance company Arsenal Insurance assets have grown more than fourfold, bonuses, and, accordingly, out payments have grown by 6.5 times
AGCS and Allianz P&C will be trade as Allianz Commercial
Allianz Global Corporate & Specialty with the insurance business of local Allianz P&C entities will be trade as Allianz Commercial
Florida’s property insurers are taking a cautious approach
Florida’s residential property insurers are taking a cautious approach when estimating how industry reforms passed in late 2022
Allianz Trade introduced a new standalone fraud insurance product in the UK
Allianz Trade, the trade credit insurer, has introduced a new standalone fraud insurance product to assist businesses
Swiss Re structured and placed the issuance of $250 mn of ILS
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities
Insurers suspensed of a cargo insurance Ukraine’s grain sea shipments
Marsh announced the suspension of a cargo insurance service safeguarding Ukraine’s grain shipments through a secure sea route
Global Agricultural Insurance Market will grow to $65.7 bn up to 2030
The global Agricultural Insurance Market is expected to witness significant growth at a CAGR of 7.1% during the forecast period of 2023-2030
Florida’s insurance market experienced difficulties – insurers decreases coverage
Florida’s insurance market has experienced difficulties in recent years, with some private insurers becoming insolvent, and others choosing to halt coverage
How new bills will reshape the Illinois health insurance market?
Two new bills are likely to fundamentally reshape the Illinois health insurance market. The bills aim to increase insurance affordability and access
AXA XL launched the Excess Emissions Insurance
AXA XL, a specialist risk division under the global insurance company AXA, has launched a new product – the Excess Emissions Insurance
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
White House’s proposal places restrictions on short-term US health insurance
The Biden-Harris Administration is expected to propose a new regulation cracking down on short-term health insurance plans
Rural insurer FMG paid $120 mn in claims relating to Cyclone Gabrielle
Rural insurer FMG has paid out more than $120 million in claims relating to Cyclone Gabrielle. The insurer has settled 43% of the 10,500 claims
Insurance industry adopts real-time payments for B2B transactions
Insurance companies are increasingly embracing real-time payments for business-to-business (B2B) transactions, viewing them as essential to success
London High Court judge combines claims $10 bn for aircraft owners against insurers
Lessors have not received any insurance payments for planes stranded following sanctions on Russia, and are suing insurers across several jurisdictions, including London
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
Net-Zero Insurance Alliance eliminated all requirements for Insurers
The Net-Zero Insurance Alliance (NZIA) has eliminated all requirements for its members to establish and disclose targets for reducing greenhouse gas emissions
Finregulators warns insurers for promoting cancer insurance after Fukushima disaster
Financial Supervisory Service of South Korea warns to certain insurers in the country for promoting insurance sales based on the Fukushima nuclear disaster
MetLife makes new leadership appointments in MetLife Investment and MetLife Holdings
MetLife has announced that Steven J. Goulart, Chief Investment Officer and President of MetLife Investment Management
WTW announced a collaboration with global law firm Clyde & Co
WTW, a leading global advisory, broking and solutions company, has announced a collaboration with global law firm Clyde & Co
UK Home & motor insurers must improve their treatment of vulnerable customers
Home and motor insurers must improve their treatment of vulnerable customers and how they handle customers claims, a review by the Financial Conduct Authority
FCA alarmed over the soaring insurance premiums in UK
The Financial Conduct Authority (FCA) has sounded the alarm over the soaring insurance premiums that are burdening drivers and homeowners
Monzo Premium has a new travel insurance provider Zurich, powered by Qover
Monzo Premium’s worldwide family travel insurance will be provided by Zurich, powered by Qover. Most of the things covered by the insurance will stay the same
Allianz and Jaguar Land Rover launched Simply DriveMys embedded insurance
JLR and Allianz Partners have announced the launch of an embedded insurance programme, to enhance the purchasing experience for Range Rover
European Supervisory Authorities published Progress on Greenwashing in financial sector
The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published their Progress Reports on Greenwashing in the financial sector
Marsh McLennan Guy Carpenter completed acquisition of Re Solutions
Guy Carpenter had completed its previously announced acquisition of Re Solutions, the leading independent reinsurance broker in Israel
CoreLogic estimates $7-10 bn in insured damage from June U.S. storms
Severe thunderstorm activity from June 11-15 brought strong straight-line winds, record-sized hail, and tornadoes, causing substantial damage to property across the United States
Car insurer Hagerty has raised $105 mn from existing strategic investors
Car insurer Hagerty has raised $105 mn from existing strategic investors including State Farm, Markel Group and the Hagerty family. Insurer`s value is $3 bn.
Insured loss from Severe Convective Storm outbreak will be $5.5 bn
KCC estimates that the insured loss from this Severe Convective Storm (SCS) outbreak will be close to $5.5 billion. The KCC loss estimate includesthe privately insured damage
Global mortality insurance protection gap amounted $406 bn
The global mortality protection gap amounted to a staggering USD 406 billion in 2022, representing a 1.5% increase from the previous year
Insurance claims by the Auckland Anniversary floods & Cyclone Gabrielle totaled $2 bn
107,569 claims arising from the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle
Britain’s reforms to Solvency II capital rules for insurers will unlock billions of pounds
Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to ‘Solvency II’ capital rules for insurers, which it hopes will unlock billions of pounds
Families of Titan submersible passengers seeks damages from OceanGate’s insurers
Liability waivers signed by passengers on a submersible lost at sea during a dive to the Titanic wreck may not shield the vessel’s owner from potential lawsuits
Intensification of tropical cyclones and re/insurance losses growth
Tropical cyclones are expected to become more powerful, leading to heightened rainfall and larger storm surges
US property & casualty insurers recorded $8.2bn underwriting loss for 2023
US property and casualty insurers has recorded an $8.2bn underwriting loss for the Q1 2023, according to AM Best report
Hannover Re Group net income rises to EUR 484 mn in Q1 2023
Reinsurer Hannover Re generated an increased profit in the first quarter of 2023 and confirms its Group net income guidance for the full financial year
Generali Group acquires spain insurer Liberty Seguros by €2.3 bn
Liberty Mutual Insurance and Generali Group announce that they have signed a definitive agreement for Generali to acquire Liberty Seguros
AirHelp introduces AirPayout insurance by travel insurtech Battleface
AirHelp is introducing AirPayout insurance, a new benefit that offers customers €100 when their flights are delayed or cancelled
Paul Davies has taken on the role of Vice Chair of Aon
AON, a global professional services firm, announced that Paul Davies has taken on the role of vice chair of Aon, reporting to Aon CEO Greg Case
Fitch Ratings Updates Insurance-Linked Securities (ILS) Criteria
Fitch Ratings has published a periodic review and update of its criteria report for rating insurance-linked securities. The updated report replaces the previous version
Insurers’ Fitch ratings moderates fall in commercial real-estate values
Insurers’ ratings are likely to be resilient to a moderate fall in commercial real-estate (CRE) values, Fitch Ratings says
African Risk Capacity Group launches a parametric insurance for Africa
The African Risk Capacity (ARC) Group is launching a new insurance mechanism for African countries to cope with the devastating effects of flooding
Why did the shares of leading health insurance companies fall?
Shares in several leading health insurers dropped dramatically following comments from UnitedHealth Group leadership indicating higher-than-anticipated medical cost
Credit fundamentals of Japanese life insurers will remain resilient to 2024
The overall credit fundamentals of Japanese life insurers will remain resilient in the financial year ending March 2024
Sale of individual insurance policies in the UK decreased of 7.8%
Sale of individual insurance policies in 2024 has decreased of 7.8%. The total underwritten whole-life sales increased by 34.5% to 27,807 policies.
Dutch pension reform will provide a growth opportunity for life insurers
Dutch pension reform to make all occupational pension schemes defined-contribution (DC) by 2028 will provide a significant growth opportunity for Dutch life insurers
Credit ratings of Canadian non-life insurers reporting under IFRS
The credit ratings of Canadian non-life insurers reporting under IFRS will not be affected by the recent adoption of IFRS 17
MetLife and Lyra Health expand access to workforce mental health solutions
Swiss Re’s SONAR report reveals that the threats on the horizon develop as dynamically as the technological, geopolitical and social changes in the world today
Inflation & Insurance Replacement Costs Report by Triple-I
Inflation and Insurance Replacement Costs was developed by the Insurance Information Institute (Triple-I) and analyzes the relationship between overall inflation and insurance
Aon launches Data-Driven Insurer Pricing Platform to advanced analytics
Aon, a global professional services firm, today announced the launch of its Pricing Platform, a software solution that aims to provide insurers
Chubb launches Aviation Insurance Hub in Singapore
Chubb has announced the establishment of an aviation hub in Singapore, signalling its commitment to further developing its general aviation and aerospace business.
AXA Group closes Q1 2023 with insurance business worth EUR 31.8 bn
French insurer AXA informed it closed Q1 2023 with business worth EUR 31.8 bn, up from EUR 31.2 bn a year before, of which Property & Casualty – EUR 18.6 bn
Insurance Europe welcomes the Data Act proposal by the European co-legislators
Insurance Europe’s recently published paper, that examines the impact of the different positions taken on the Data Act proposal by the European co-legislators
UNIQA Insurance Group premiums rose by 6.5% to EUR 1.98 bn in Q1 2023
GWP of UNIQA Insurance Group rose by 6.5% to EUR 1,980 million in the first quarter of 2023 compared to the same period of the previous year
The EU delayed parts of the AI Act as US AI funding surged, widening Europe's gap in capital, compute, talent and data for startups
The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
The US P&C insurance industry recorded a $16.3 bn net underwriting gain in the first three months of 2026, up significantly from a $1 bn loss recorded in the prior-year period
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors