Lloydâs Market Association and KPMG warn insurers to reset underwriting for climate shift
LMA and KPMG say rising temperatures and disorderly transition risks force insurers to rethink physical and transition underwriting strategies
đŹđ§ UK Insurance News
McKinsey says AI could add $70 bn to insurance revenue
McKinsey outlines how AI, from predictive models to agent systems, is reshaping brokers, MGAs, TPAs and software, with $50 bnâ$70 bn revenue upside
Zurich to acquire Beazley in ÂŁ8.1 bn specialty insurance deal
Zurich agrees ÂŁ8.1 bn takeover of Beazley to expand specialty insurance footprint, creating a $15 bn gross written premium platform
Financial Conduct Authority sets 2026 insurance priorities, captive reform ahead in the UK
FCA launches first insurance Regulatory Priorities report, outlining captive reform plans, AI oversight and claims scrutiny for 2026
Lloydâs List Intelligence to manage Lloydâs Agency Network
Lloydâs List Intelligence will assume management of the Lloydâs Agency Network from April 2026, integrating marine survey expertise with global AIS and analytics capabilities
PERILS sets âŹ467 mn loss for windstorm Goretti across UK and France
PERILS estimates âŹ467mn insured loss from Windstorm Goretti in England, France and Belgium, with France accounting for nearly 75% of claims
Low-growth economy tops emerging risk list in 2025, Gartner says
Gartner reported that a low-growth economic environment remained the top emerging risk in the fourth quarter of 2025, marking the second consecutive quarter in which economic conditions
Swiss Re to acquire QBE trade credit and surety unit
Swiss Re Corporate Solutions agreed to acquire QBE Insurance Groupâs Global Trade Credit and Surety business, subject to regulatory approvals expected to take several months
Global property insurance rates fall 9% in 2025
Global commercial property insurance rates declined 9% in Q4 2025, according to the latest market update from Marsh. The drop marks an acceleration from the 8% decline recorded in Q3
Experian brings auto insurance marketplace to ChatGPT users
Experian launched the Experian Insurance Marketplace app inside ChatGPT, extending its insurance comparison platform into a conversational interface used by millions of consumers
Healthtech Pontiro secured ÂŁ357,5k to scale NHS imaging AI infrastructure
Pontiro raised ÂŁ357,500 in a round led by SFC Capital, with participation from Plug and Play Ventures and the British Business Bank
Startup FYLD raises $41 mn Series B to scale AI for field operations
London-based FYLD, an AI-powered intelligence platform for the infrastructure sector, closed a $41 mn Series B round led by Energy Impact Partners
Startup SurrealDB raised $23 mn, launched v3.0 multi-model AI database
London-based SurrealDB secured a $23 mn extension to its Series A round and released version 3.0 of its multi-model database platform
Insurtech Concirrus unveils AI-native Inspire underwriting platform
Concirrus has launched Concirrus Inspire, an AI-native underwriting platform built for specialty insurers and MGAs seeking faster decision cycles without loosening risk controls
DQPro selects Hartford for US expansion with InsurTech Corridor support
London-based specialty data firm will build US operations in Connecticut, citing access to carriers and regulatory guidance
UK insurers pay ÂŁ6.1 bn property insurance claims as weather losses climb
Insurers in the United Kingdom paid out ÂŁ6.1 bn in property claims during 2025, including ÂŁ1.5 bn in the fourth quarter alone
Hiscox Re & ILS rebrands and launches Hiscox Capital Partners
Hiscox Re & ILS has rebranded as Hiscox Re and introduced Hiscox Capital Partners, a platform consolidating the groupâs third-party capital operations
Pinion Insurance launches with $180 mn Barings backing
Pinion Insurance has launched as a specialty carrier backed by a preferred equity commitment of up to $180 mn from Barings
Insurtech Wrisk acquires Atto to expand embedded finance and credit intelligence
UK-based insurtech Wrisk has acquired Atto, a real-time financial intelligence platform, as it deepens embedded finance and protection capabilities
Admiral Group to acquire fleet insurtech Flock in ÂŁ80 mn deal
Admiral Group has agreed to acquire Flock, a UK digital commercial fleet insurtech, in a transaction valuing Flockâs equity at ÂŁ80 mn
Insurtech mea secured $50 mn from SEP to scale insurance AI platform
AI-native insurtech mea has raised $50 mn in minority growth equity from SEP, marking its first external funding round
Chase launched Chase Protect bundled insurance product in the UK
Chase introduces Chase Protect in the UK, combining travel insurance, mobile phone cover and AA breakdown assistance into a ÂŁ12.50 monthly bundle integrated within its banking app
Automata raises $45 mn Series C to scale LINQ lab automation
London-based Automata secures $45 mn Series C led by Dimension to expand its LINQ modular robotics platform and deepen integration with Danaher technologies
Insurtech ManageMy raised $45 mn to scale global insurance platform
Insurtech ManageMy secures $45 mn, including $20 mn Series B, to expand internationally and advance AI-driven capabilities across its platform
Bound raised âŹ20.7 mn Series A to scale automated FX hedging
UK-based Bound secures âŹ20.7 mn Series A led by AlbionVC to expand automated FX risk management across Europe after trading âŹ1.6 bn in 2025
Fintech Overmind raised âŹ2.3 mn to secure agentic AI in regulated sectors
London-based Overmind secures âŹ2.3 mn seed round to build supervision infrastructure for AI agents across legal, healthcare and FinTech markets
AIG and Onex close $7 bn Convex deal reshaping ownership
AIG takes 35% stake in Convex and 9.9% in Onex as Onex gains 63% control, forming strategic partnership with $2 bn capital commitment
Facultative reinsurance market enters softer phase – Gallagher Re
Gallagher Reâs Pablo MuĂąoz reports global facultative reinsurance pricing softening after January 1 renewals, driven by abundant capital and expanding appetite
Pension Insurance Corporation secures ÂŁ155 mn buy-in for Vistry schemes
Pension Insurance Corporation secures ÂŁ155 mn buy-in covering 1,671 members across three Vistry final salary pension schemes in the UK
MS Amlin partners with MSI on UAE political risk reinsurance
MS Amlin launches a political risk reinsurance partnership with Mitsui Sumitomo Insurance in the UAE, expanding contract frustration cover via Dubai
Cyber reinsurance rates drop 32% at Jan 2026 amid capacity glut
Gallagher Re reports a 32% fall in risk-adjusted cyber aggregate excess of loss rates at 1 Jan 2026 renewals as excess capacity and softer terms reshape the market
Willis adds Dubai and Madrid to global D&F reinsurance placement hub network
Willis expands its direct and facultative placement network with new hubs in Dubai and Madrid, extending global market access through a single coordinated platform
Aviva launches private clients unit via Lloydâs of London market expansion
Aviva enters a new high-net-worth phase by launching Aviva Private Clients through Lloydâs, enabling cross-border cover, multi-currency policies, and bespoke underwriting
FCA urges insurers to rebuild trust as 66% of đŹđ§ UK consumers remain sceptical
FCA deputy chief executive Sarah Pritchard says insurers must fix trust gaps as new data shows 66% of UK consumers distrust the sector despite high claims payouts
Radian completes $1.67 bn acquisition of Lloydâs re/insurer Inigo
Radian closed its $1.67 bn purchase of Inigo, reshaping the group into a global specialty insurer and lifting EPS and ROE expectations for 2026
Reinsurance cycle looks steadier as capacity builds and T&Cs tighten
Autonomous sees a more rational reinsurance cycle, though rising capacity and softer pricing are expected to pressure terms and conditions through 2026
Artificial Labs raises $45 mn Series B to scale insurance tech
Artificial Labs closed a $45 mn Series B led by CommerzVentures to scale digital broking and underwriting technology and expand into the US in 2026.
Tokio Marine Kiln hires Ben Sitki to strengthen cyber reinsurance team
Tokio Marine Kiln appoints Ben Sitki as underwriter in its Cyber Reinsurance Solutions unit, adding MEA cyber expertise as the platform expands
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
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 Ăowyn insured loss at EUR 765 mn
PERILS issues its final estimate for Windstorm Ăowyn, 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
BMIâs 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 Lloydâs-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 ÂŁ10 mn to back UK pre-seed founders
Ascension Ventures receives up to ÂŁ10m 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 ÂŁ11 mn deal
Defaqto strengthens UK insurance data capabilities with a ÂŁ11m acquisition of Pearson Ham Groupâs 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
Lloydâs Patriotic Fund rebrands as Lloydâs Veterans Charity
Lloydâs Patriotic Fund adopts the name Lloydâs Veterans Charity, clarifying its mission to support military veterans and families across the Lloydâs 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
Lloydâs appoints Jim Bichard as CFO, PwC insurance chief joins in 2026
Lloydâs names PwC global insurance head Jim Bichard as CFO from April 2026, replacing Alexandra Cliff, subject to UK regulatory approval
SCOR and Axa launch Lloydâs consortium for ecological restoration risk
Scor and Axa form a Lloydâs 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 ÂŁ7.7 bn cash bid for Beazley after year-long pursuit
Zurich Insurance goes public with a ÂŁ7.67bn offer for Beazley, proposing a 56% premium as it seeks scale in specialty insurance
UK M&A deal value reached ÂŁ134.7 bn in H1 2026, up 125%, while volumes fell 12.6%. PwC reports growing investment concentration in financial services, AI and healthcare
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
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
Insurance brokers push debt-financed acquisitions amid slowing growth, Fitch warns credit risks rise but strong cash flow keeps leverage tolerable