McKinsey acquires Iguazio, a leader in AI and machine-learning technology. With the addition of Iguazio’s technology and a team of more than 70 data and AI experts
UK-based insurtech Candid (part of the Clark Group of companies) and Swiss Re’s iptiQ join forces to provide affordable and accessible life insurance solutions to UK
A confluence of factors, including rising interest rates, increased unrealized losses and declines in capital has led to leverage ratios ticking up among U.S. property & casualty
Despite the Russia-Ukraine war, trade credit insurers are expected to report strong results for 2022, according to analysts at insurance credit rating agency AM Best
Lloyds Banking Group has invested £4 million in Caura, an award-winning all-in-one motoring app designed to take the hassle out of car ownership
The reinsurance segment has been generating return-on-equity ratios of approximately 4-5%, in a market where the cost of capital is at least twice that
Insurtech Betterview has completed a new round of funding of undisclosed amount led by existing investors EMC Insurance, Guidewire Software, Nationwide, MaidenRE
Nippon Life Insurance Company has agreed to invest an additional commitment of $1 bn in Resolution Life, a leading global life and annuity insurance consolidation business
AI-driven commercial insurance platform Corvus Insurance plans to expand further into Europe and the UK in the 2024 year – and by laying off close to 14% of its workforce
Lloyds Banking Group has invested £4 million in Caura, an award-winning all-in-one motoring app designed to take the hassle out of car ownership
The most difficult conditions during the recent 1 January 2023 renewals were experienced in the property segment, driven by an evident mismatch in demand and supply
At least five events topped the economic loss threshold of $10 billion. Hurricane Ian dominated the ranking with an aggregated toll of approximately $95.5 billion
Life Insurtech Covr Financial Technologies has partnered with Smart Choice to bring its digital insurance platform for independent agents, Covr Pro, to 9,500 Smart Choice
Tesla has discussed its Q4 2022 results. CEO Elon Musk and CFO Zach Kirkhorn shared some insights about Tesla Insurance
Direct-to-consumer mortgage lender AmeriSave Mortgage Corporation has partnered with Ladder Insurance, giving customers the option to apply for life insurance online
Insurance Europe has responded to the European Supervisory Authorities' call for evidence on greenwashing
Coalition is now even better placed to deliver its Active Cyber Insurance to licensed territories around the world
The catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Southeastern Australia floods, amounting to AUD 840 mn
Pathpoint, the digital wholesaler where insurance agents can get bindable small commercial E&S quotes, has raised $12.5 mn in funding from existing investors
According to ShipIn Systems, the industry is facing a challenging 2023, with inflation driving up costs for repairs and breakdowns, geopolitical tensions
Japanese insurers are planning to increase insurance premiums for ships carrying liquefied natural gas (LNG) that traverse Russian waters
Insurers have held discussions with the UK government over whether its terrorism reinsurance scheme should cover state-backed cyber attacks
German Financial regulator Bafin wants to put a stop to excessive costs in life insurance. High costs do not always mean an appropriately increased return
Unemployment insurance fraud since April 2020 could total more than $60 bn, according to a report by the U.S. Government Accountability Office
Digital life insurtech startup Dayforward has closed a $25 million funding round led by AXA Venture Partners, with participation from existing investors including HSCM
Insurtech Peppercorn has created the "world’s first" conversational AI insurance assistant. Peppercorn’s platform enables customers to benefit from a more responsive
insured.io, a provider of cloud-based, customer engagement solutions for the insurance industry, has announced the availability of a new payment processing feature, Payment Center
Digital business insurance platform Embroker has launched a new data science application, ONE — a universal application that utilizes AI and machine-learning
The AI-led insurtech Concirrus, a data and analytics platform for commercial insurance, has…
Hanover Insurance Group has estimated catastrophe losses of $190 mn for the Q4 2022, of which $165 mn, or 87%, were driven by Winter Storm Elliott
TONI Digital is a digital insurance-as-a-service provider, offering personal and commercial insurance lines such as motor insurance
Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7mn in funding
Papara, the market-leading Turkish fintech, today announces the launch of pet insurance product to users in Turkey
SunLife, part of Phoenix Group, and iptiQ, Swiss Re's digital B2B2C insurer launch an innovative life insurance product for UK-based customers aged 50 years and above
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance & ILS, has provided $100 million in capital
Vienna-based insurtech "Hi.health" raised €6 mn in a pre-Series A financing round led by existing investors SpeedInvest and Calm/Storm
Insurtech Hippo Insurance has placed of its reinsurance program for the 2023 year, which includes a 32% rise in per-occurrence excess of loss (XoL) limit
National Flood Insurance Program had paid $2.2 billion in claims for Hurricane Ian an increase of almost 28%
Insurtech Joyn Insurance has announced it exceeded its target with a $17.7 mn Series A funding round led by OMERS Ventures, with participation from SiriusPoint
The Saudi Central Bank (SAMA) has introduced new amendments to the Unified…
There is extensive precedent for requiring companies providing critical infrastructure to get special insurance. Why not require crypto companies to back themselves
Fitch Ratings’ sector outlook for the German non-life insurance market is ‘deteriorating’ for 2023, reflecting Fitch’s expectation that inflationary pressure on property and liability claims
InsurTech MGA Loadsure has received capacity baking from leading specialist international insurer Tokio Marine Kiln to further enhance
Insurtech Battleface has rolled out a new tech-driven platform as a service to support insurance carriers, brokers, managing general agents (MGAs)
Lloyd’s global specialty (re)insurer MS Amlin has strengthened its Asian reinsurance business by floating a local special purpose reinsurance vehicle (SPRV) with US$45 million
Munich Re has announced that it has selected Verisk’s global risk analytics business, Verisk Maplecroft, to help it enhance human rights due diligence
Insurance Europe has sent a letter and a position paper to the European Commission to explain why an outright EU-wide ban on inducements would limit consumer's access
Phinsys, the leading finance automation software provider for the insurance sector, announced today that the specialty insurer Palomar Holdings is implementing
International Group of P&I Clubs has seen a benign pool claims environment for its 2022/2023 program, but it notes that reinsurance partners have been impacted
Lloyd’s of London will report a combined ratio of around 95% at the year-end of 2022, anticipating the same for 2023
Parametric flood insurance company FloodFlash, the first insurance provider to pay catastrophic flood claims as fast as 4 hours, announced they have entered the U.S. insurance market
The insurance market in Poland ended 2022 with the largest reduction in the average MTPL premium in 5 years
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft recommendation on the application for approval
Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), has released a new whitepaper, “Modeling Catastrophic Cyber Events”
San Diego insurtech startup XILO offering workflow software for insurance agents and others in the insurance space, capped off 2022 by increasing its seed round
Philly-based insurtech, Propeller, has raised $6.4 mn in seed funding led by a consortium of industry partners
The insurance sector supports convergence and the re-use of existing standards for cyber incident reporting, including with ongoing initiatives, Insurance Europe said
The International Association of Insurance Supervisors (IAIS) published its 2023-2024 Roadmap. The Roadmap outlines the IAIS' work program for the next two years
Latvian insurance market totaled EUR 734.81 million at the end of September 2022, about 18.74% more y-o-y. There were 4 non-life insurance companies and 2 life
Austrian financial group Vienna Insurance (VIG) informed that its Slovak subsidiary Kooperativa poistovna has purchased 100% of the shares in 365.life d. s. s.
The InsurTech industry in Asia is still relatively smaller as compared to the western world of Europe and North America
Insurtech bolttech and Thailand’s mobile network operator AIS have partnered to deliver embedded protection services including mobile device switch
Stockholm-based startup Lumera has acquired AxyWare, a renowned system supplier for Dutch pension funds. Lumera delivers unified policy administration environments
Ondo InsurTech has won a new contract with insurer Topdanmark, to expand its roll-out to 20,000 new customers in Denmark
The war in Ukraine and extreme weather events have driven up the cost of reinsurance by as much as 200 per cent in crucial January renewals
Insurance companies will have the chance to earn higher profits in 2023 thanks to a continual interest rate hike trend
To discourage irregular migration, Türkiye is expected to implement a new insurance requirement for anyone arriving in Türkiye with a permit
The Insurance Regulatory and Development Authority of India has said insurers will be allowed to classify their sovereign green bond purchases as infrastructure investments
Swiss Re announced today the appointment of Velina Peneva as Group Chief Investment Officer and member of the Group Executive Committee
Willis Towers Watson has announced the combination of its Asia and Australasia operations into one Asia Pacific region, effective 1 January 2023
Embedded insurance could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030
While reinsurers have managed to defend against a rising tide of natural catastrophe losses, more de-risking efforts, new opportunities and further re-pricing measures
Cover Genius, insurtech for embedded protection, today announced it is partnering with HomeToGo, the marketplace with the world’s largest selection of vacation rentals
UK businesses are facing soaring cyber insurance premiums caused by higher claim risks at a time of heightened exposure to cyber-attacks
Fitch Ratings has released a report suggesting that reinsurers’ underwriting margins after retrocession will expand by 4 percentage points on average in 2023
London-based insurtech Superscript has announced the completion of its £45 million Series B funding round led by existing investor BHL UK
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
Winter Storm Elliott likely delivered insured losses of $5.4 billion across 42 states after sweeping the bulk of the United States at the peak of the Holiday season
Rising rates have been largely favourable for US life insurer investment portfolios, driving higher investment income as reinvestment rates exceed book yields
In an SEC filing, insurtech Root Insurance has shared that it has engaged outside counsel to conduct an internal investigation with respect to a series transactions
Managing general agency Johnson & Johnson announced that it recently acquired the assets of Statewide Insurance Corp as it looks to expand into a number of Southwestern states
The new EU strategy on adaptation to climate change highlights the fact that affordability and insurability of natural catastrophes insurance coverage
Alicia Insurance, a Rotterdam-based insurance startup with an embedded insurance for freelancers proposition, has raised €7 million in seed funding from Volta Ventures
MetLife has partnered with easycancha to introduce an on-demand accident insurance coverage in Chile
Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks
Reinsurance market made significant strides to improve profitability at the recent January 1 renewals, particularly in underperforming property natural catastrophe business
The largest event loss outside the US was the flooding in Eastern Australia in late February / early March, which CRESTA estimates has generated an industry loss of $4.7 billion
The reinsurance value chain will work together with insurance-linked securities (ILS) fund managers to bring new cyber reinsurance capacity to this market in 2023
CNA Hardy has announced the launch of an additional suite of cyber protection products specifically tailored to technology businesses
Healthcare costs are increasing for most Americans in 2023. Without a public healthcare system price rises in some states may put thousands onto worse coverage plans
Green Century Capital Management filed shareholder resolutions with three big U.S. insurance companies — Travelers, Chubb and The Hartford – asking shareholders
Financial services company Singlife with Aviva launches of Singlife Connect, its accelerator program to support and spur the growth of promising insurtech startups
Increases in US P&C insurers’ underwriting expenses have been offset by commensurate increases in net premiums written, which has resulted in stable expense
Some of Japan’s largest non-life insurers continues providing marine war insurance coverage in a major policy U-turn, following negotiations with reinsurers
Some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the 1/1 2023 reinsurance renewals, as Hurricane Ian
US health insurers should be able to withstand the effects of high inflation and rising interest rates, amid their expectations for a mild US recession in 2023
The renewal reinsurance season ran extremely late this year as both reinsurers and cedents worked to establish a new market equilibrium
25% of Russian seaborne crude oil shipments since restrictions started on December 5 were insured by western insurance companies
The average cost of the most competitive motor insurance deals rose by 17.4% in the 2022 year, according to the latest motor insurance price index
As we enter 2023, record-high inflation and the consequent cost-of-living crisis will be the greatest challenge faced by the insurance industry according to industry experts
