Insurer AXA UK joined forces with insurtech Synectics Solutions
Insurer AXA UK is joining forces with Synectics Solutions, specialises in combating financial crime through innovative technology, including a syndicated fraud database
🇬🇧 UK Insurance News
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
Insurtech Diesta secured $1.9 mn seed funding round
London-based Insurtech Diesta has concluded its seed funding round, securing an impressive $1.9 mn in capital
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
FSA prolonged the deadline for UK crypto asset marketing & advertising
The FCA introduced in June that it was introducing advertising and marketing restrictions on the crypto sector
Cyber insurtech Cowbell plans to expand in the UK insurance market
Cyber insurtech Cowbell has announced plans to further expand its footprint in the UK market with a new senior appointment and launch of its AI-powered cyber insurance
Rules for fair value to customers will negatively affect to UK life insurance
New rules requiring UK financial services companies to show that their prices represent fair value to customers will negatively affect life sector profitability
Lloyd’s Europe closes branches in Austria, Finland, Poland
Lloyd’s Europe will be closing its branches in Austria, Finland, and Poland following the withdrawal of the freedom of establishment authorisation
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
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
Insurtech Husmus sequred funding from Google and Innovate UK
Insurtech Husmus has raised $151K in funding from Google and British governmental agency Innovate UK
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
Sun Life Financial completed the sale of Sun Life UK to Phoenix Group
Sun Life Financial has completed the sale of SLF of Canada UK Limitedto Phoenix Group Holdings. Headquartered in London
Global InsurTech Market to garner $160 bn by 2030 at 32.7% CAGR
Global insurtech industry was pegged at $16 billion in 2022, and is estimated to generate $160 billion by 2030, growing at a CAGR of 32.7%
Trends at Europe’s largest insurers illustrate an upward movement in insurance pricing
Trends at Europe’s largest insurance companies illustrate an upward movement in commercial insurance pricing which is set to continue, albeit at a slower pace
Global catastrophes economic losses $270 bn, 44% covered by re/insurance
Global catastrophes around the world drove estimated economic losses of USD 270 billion in 2022, of which roughly 44% or USD 120 billion were covered by re/insurance
Dubai International Financial Centre granted an licence to Sukoon’s Syndicate 2880
Dubai International Financial Centre (DIFC) has granted an operating licence to Sukoon’s Syndicate 2880, making it the first syndicate-in-a-box
Global estimated insured losses from natural catastrophes at $35 bn
Floods and storms drive global insured catastrophe losses of USD 38 billion in first half of 2022, Swiss Re Institute estimates
UK Motor Insurance Results & Forcasts: Claims Inflation & Premiums Accelerates
Motor insurers last year recorded a Net Combined Ratio (NCR) of 96.6%, according to EY’s latest UK Motor Insurance Results
Insured losses from natural catastrophes estimated at $100bn
1H losses would be around 40% of the 10-year average of $11.1 billion for US seasonal catastrophes in that quarter.
London Insurance Market’s electronic placement platform has been delayed
The next phase of the London Insurance Market’s electronic placement platform NextGen 2.0 has been further delayed, this time to February of next year
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How Lloyd's institutional structure supports re/insurance underwriting across marine, aviation, energy, cyber and other complex insurance classes
Global insurance-linked securities market reached $145 bn in 2026, supported by record catastrophe bond issuance, 12.5% investor returns and expanding reinsurance sidecars
Global reinsurance capital reached $800 bn in 2026 as expanding capacity, lower property pricing and stronger catastrophe bond activity favor buyers
Insurance regulators in the US, UK and Japan are strengthening oversight of asset-intensive reinsurance, targeting counterparty credit risk, recapture reserve adequacy