ILS market targets another record year after $24 bn issuance
Strong investor demand, reinvestment flows, and maturing cat bonds position the ILS market for another high-volume issuance year in 2026
🇬🇧 UK Insurance News
Health and Safety tops global D&O risk rankings as climate and AI concerns fade
Health and safety is the leading risk for directors and officers worldwide for a second year running, according to the Global D&O Survey
Plum adds embedded travel insurance via insurtech Qover to Max subscription
UK fintech Plum partners with Qover to bundle worldwide travel protection into its Max plan, expanding embedded insurance within its money management app
PERILS sets final Windstorm Éowyn insured loss at EUR 765 mn
PERILS issues its final estimate for Windstorm Éowyn, putting insured property losses across the UK and Ireland at EUR 765 mn after limited loss development
Pace secures $10 mn Series A led by Sequoia to scale agentic AI replacing insurance BPO work
Pace secures $10 mn Series A led by Sequoia to scale agentic AI replacing insurance BPO work across submissions, claims, and policy servicing
Sanctions sideline 79 Russian oil tankers and drive up insurance costs
More than 79 sanctioned tankers involved in transporting Russian oil halted operations in 2025, while freight and vessel insurance costs jumped by 40-50%
Atrium Underwriters expands InsurX tie-up as smart follow GWP tops $100 mn
Atrium Underwriters deepens its InsurX partnership, adding independent smart follow capacity as algorithmic property placements pass $100 mn.
Willis returns to light aviation insurance after 30-year exit
Willis re-enters the light and recreational aviation market after three decades, driven by the arrival of the London-based Crispin Speers team
Insurers brace for Arctic tension, regime shifts, nuclear risk in 2026
BMI’s Yoel Sano flags Arctic disputes, regime change, and nuclear uncertainty as top political risks insurers face heading into 2026 and beyond
Brit renews US hospital liability consortium 7882 with $10 mn capacity
Brit Group renews its US hospital professional liability Consortium 7882 for 2026, offering $10 mn of Lloyd’s-backed capacity amid tighter market conditions
FCA studies long-term AI effects on UK insurance and retail finance
The FCA launches a forward-looking review on AI in insurance and retail finance, weighing innovation, fraud risks, and regulatory readiness
Ascension Ventures secures £10 mn to back UK pre-seed founders
Ascension Ventures receives up to £10m from the British Business Bank to expand regional access to pre-seed and seed capital across the UK
Armilla AI expands standalone AI liability cover to $25 mn limits
Armilla AI increases AI liability limits to $25m with all-risks coverage as insurers add generative AI exclusions across cyber, E&O, and liability policies
Defaqto acquires the Market Pricing Business of Pearson Ham in £11 mn deal
Defaqto strengthens UK insurance data capabilities with a £11m acquisition of Pearson Ham Group’s Market Pricing Business via parent company Fintel
Marsh Risk expands Nimbus data center insurance to $2.7 bn capacity
Marsh Risk increases Nimbus facility limits to $2.7bn for large-scale data center construction projects across major global markets
Insurtech Mantas raises $1.8 mn to insure cloud outages with parametric cover
Digital risk startup Mantas exits stealth with $1.77m seed funding to launch parametric insurance for cloud outages across MENA and North America
Lloyd’s Patriotic Fund rebrands as Lloyd’s Veterans Charity
Lloyd’s Patriotic Fund adopts the name Lloyd’s Veterans Charity, clarifying its mission to support military veterans and families across the Lloyd’s market
Willis expands Synthetik partnership for terrorism risk modelling
Willis broadens its partnership with Synthetik, deploying advanced political violence and terrorism models across client advisory and risk quantification
Lloyd’s appoints Jim Bichard as CFO, PwC insurance chief joins in 2026
Lloyd’s names PwC global insurance head Jim Bichard as CFO from April 2026, replacing Alexandra Cliff, subject to UK regulatory approval
SCOR and Axa launch Lloyd’s consortium for ecological restoration risk
Scor and Axa form a Lloyd’s consortium to insure ecological restoration projects, aiming to reduce investment risk and scale nature recovery efforts globally
Optio Group takes full control of Italian MGA Heca
Optio Group acquires the remaining stake in Italian MGA Heca, marking its fifth deal in a year as it accelerates European expansion
Zurich Insurance launches £7.7 bn cash bid for Beazley after year-long pursuit
Zurich Insurance goes public with a £7.67bn offer for Beazley, proposing a 56% premium as it seeks scale in specialty insurance
UK lawmakers warn regulators lag on AI risks in insurance & financial services
UK MPs urge FCA and Bank of England to tighten oversight of AI in finance, warning of consumer harm and market instability as adoption accelerates
Helios Underwriting trims Lloyd’s capacity to £467 mn for 2026
Helios Underwriting expects £467m of managed Lloyd’s capacity for 2026, down 5%, with higher freehold exposure and portfolio adjustments
Allianz invests in UK insurtech Wrisk in £12 mn Series B round
UK insurtech Wrisk secures investment from Allianz as part of its £12m Series B, backing data-driven insurance for automotive OEMs
Sedgwick launches London-based global specialty platform for complex losses
Sedgwick rolled out a global specialty platform in London to handle large, complex losses, expanding marine and energy capabilities with senior hires and 100+ adjusters
Santam launches Lloyd’s policy administration system with Alchemy and Buckhill
Santam, Alchemy Technology Services, and Buckhill delivered a new Lloyd’s PAS for Syndicate 1918 in under three months, replacing legacy systems with a cloud-based, ecosystem-led model.
Nuclera adds $12 mn to Series C as investors back AI-ready protein platforms
Cambridge-based biotech lifts total Series C to €74 mn, expanding antibody expression and validation inside its benchtop discovery system.
War insurance rates spike for Black Sea shipping after tanker drone attacks
Premiums for vessels heading to Russian and Ukrainian ports jump toward 1% of ship value as insurers reassess rapidly escalating risks in the region
Insurtech Kita launches NPI cover for carbon and natural capital finance
Kita expands carbon insurance with a Lloyd’s-backed non-payment policy targeting lenders funding carbon and nature-based projects
Brit Re launches property D&F underwriting in Bermuda market
Brit Group starts writing US and global property direct and facultative risks from Bermuda via Brit Re, targeting complex industrial and realty exposures
Polo Managing Agency launches three new Lloyd’s syndicates for 2026
Polo Managing Agency brings three new Lloyd’s syndicates live in 2026, spanning trade credit, reinsurance, and retrocession busines
Statera Managing Agency wins Lloyd’s approval to run Syndicates 4242 and 1416
Statera Managing Agency secures Lloyd’s approval, bringing Syndicates 4242 and 1416 fully in-house under Octave Ventures
BioTech Engitix lands €21 mn extension to push ECM cancer therapies
London-based Engitix secures a €21mn Series A extension to advance ECM-targeted oncology and fibrosis drug programs
InsureVision launched TeslaStick and FleetVision, video-based underwriting AI tools
InsureVision debuts video-based underwriting tools at CES 2026, targeting personal auto and fleet losses with contextual driving risk AI
SaaS startup MotorK raises extra €3 mn debt from Atempo to bolster balance sheet
Milan-based MotorK secures an additional €3 mn tranche from Atempo Growth, extending existing debt to support liquidity and corporate needs
London Bridge 2 drives fresh ILS capital into Lloyd’s market
London Bridge 2 PCC channels $660 mn of new capital into Lloyd’s in Q4 2025, emerging as a preferred ILS route for syndicates and investors
Lockton Re launches LNAPS unit to back North American MGAs
Lockton Re opens a London-based North America portfolio solutions team, naming Henrietta Butcher to lead capacity sourcing for MGAs
JAB Insurance to buy Utmost UK life and pensions platform
JAB Insurance agrees to acquire Utmost’s UK life and pensions arm, gaining £5bn in assets and a foothold in the bulk annuity market
Getlink secures €55 mn insurance payout for ElecLink outage
Getlink agrees €55mn insurance settlement covering ElecLink losses after a 2024–2025 shutdown of the Channel Tunnel power interconnector
Pinpoint UK gains Lloyd’s coverholder status in London Market
Pinpoint UK Solutions secures Lloyd’s approval as a coverholder, gaining delegated underwriting authority and direct access to the London Market
UK probes cyber incident amid claims of China-linked data access
UK officials investigate cyber incidents at the FCDO and London councils as reports raise concerns over China-linked hacking and public service disruption
AIG launches Lloyd’s SPV Syndicate 2479 with Blackstone, Amwins
AIG sets up Lloyd’s Syndicate 2479 with Blackstone and Amwins, using London Bridge 2 and Palantir AI to support a $300 mn, third-party-backed portfolio
Millions of UK travellers hide medical conditions on travel insurance
One in four UK travellers conceal medical conditions to cut travel insurance costs, risking rejected claims and massive overseas medical bills
Insurtech incubator Lloyd’s Lab celebrates Cohort 15 and opens Cohort 16
Lloyd’s Lab marked Demo Day for Cohort 15, showcasing 12 InsurTechs, and opened applications for Cohort 16 with a new Ireland-focused theme
London dental insurance fraud trio avoid immediate jail
A struck-off dentist and her two children were convicted over a £350k dental insurance fraud in North London but received suspended sentences
Ageas UK and Saga launch 20-year insurance partnership for over-50s
Ageas UK and Saga plc roll out a 20-year affinity deal, launching motor insurance now and home cover in early 2026 for over-50s customers
Aviva partners with Percayso to deepen vehicle data analytics
Aviva signs a multi-year deal with Percayso Inform to enhance vehicle data enrichment across pricing, underwriting, and claims in UK personal and commercial lines
Fitch sets neutral 2026 outlook for global insurance sector
Fitch Ratings assigns a neutral 2026 outlook for global insurance, citing resilience overall but weaker margins in reinsurance, London Market, and US Health
Canada Life UK completes £330m buy-in with Comet Pension Scheme
Canada Life UK secures benefits for 4,500 members through a £330m full-scheme buy-in with the Comet Pension Scheme backed by Fnac Darty
FCA moves to simplify insurance rules, faces London market pushback
The FCA eases insurance rules to cut costs and boost flexibility, but Lloyd’s and London Market leaders say reforms stop short of real change
Experian warns of AI-driven cyber risks in 2026 breach forecast
Experian’s 2026 Data Breach Forecast points to AI-powered attacks, quantum risk, and rising identity fraud as cyber threats grow faster and smarter
UK brings crypto under financial law in sweeping 2027 reform
The UK will regulate crypto under existing financial laws from October 2027, placing exchanges, issuers and stablecoins under FCA and Bank oversight
Cloudflare report shows AI bots driving traffic surge
Cloudflare data shows a 19% traffic jump, AI crawler dominance, post-quantum crypto growth, and rising attacks on civil society sites
US senators press Trump administration on bird flu vaccine plan
Bipartisan senators urge the Trump administration to finalize a science-based bird flu vaccine plan for livestock amid rising outbreaks
AM Best warn rising protectionism reshapes global reinsurance
AM Best’s Angela Yeo and Mahesh Mistry say local reinsurance rules spread into developed markets, straining risk distribution and raising costs
LifeSearch launches UK’s first fully digital in-journey life insurance trust
LifeSearch adds a digital trust engine to its online life insurance journey, aiming to place most policies in trust and close a major protection gap
Marsh names James Addington-Smith CEO of UK business from early 2026
Marsh appoints James Addington-Smith to succeed Chris Lay as UK CEO in early 2026, as Lay prepares to retire after four decades
Zurich teams with Quantexa to boost real time fraud detection in UK
Zurich becomes the first UK insurer to deploy Quantexa’s AI platform, pushing real time fraud detection across multiple business lines
Volt Underwriting enters ports and terminals market with $15 mn capacity
Volt Underwriting launches a $15mn ports and terminals line backed by Tokio Marine Kiln, expanding its global energy focused MGA platform
Discover how a secondary reinsurance market could improve capital efficiency, lower WACC, boost underwriting flexibility and support more efficient pricing
Global reinsurance pricing fell more than expected at Jan. 1, 2026 renewals, with abundant capital, weak catastrophe support, and easing terms
Reinsurance rates in several lines softened quicker than anyone expected this year, especially in casualty and cyber, yet trading conditions across the Lloyd’s market still look reasonably favorable
Marine insurers warn of soft pricing, major losses, and fragmented trade as geopolitical conflicts reshape shipping and supply chains