U.S. property catastrophe reinsurance market shifts toward buyers
Aon reported that conditions in the U.S. property catastrophe reinsurance market continued to favor buyers at the mid-year renewals.
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Florida reforms drive reinsurers to expand at mid-year renewals
Gallagher Re’s 1st View mid-year renewal report highlighted that recent legislative reforms in Florida encouraged reinsurers to write more broadly at mid-year renewals
Fortitude Re completed reinsurance transaction with Unum Life Insurance
Fortitude Re completed a reinsurance transaction through its subsidiary, Fortitude Reinsurance Company (FRL), with Unum Life Insurance Company of America
Ariel Re sponsored 5th catastrophe bond, Titania Re 2025-1, securing $150 mn
Global reinsurer Ariel Re sponsored its 5th catastrophe bond, Titania Re 2025-1, securing $150 mn of multi-peril retrocessional reinsurance protection over four years
Howden acquired a 68.3% majority stake in Holos insurance broker
Howden, the global insurance and reinsurance broking group, acquired a 68.3% majority stake in Holos Holdings, a Kyoto-based retail insurance broker founded in 2001 by Kei Horii
Zurich acquired cyber insurtech BOXX Insurance
Zurich Insurance Group announced its acquisition of BOXX Insurance Inc., a Toronto-based cyber insurance and risk management insurtech
Bupa faces Federal Court over misleading conduct, agrees to A$35 mn penalty
The Australian Competition and Consumer Commission (ACCC) filed proceedings in Australia’s Federal Court against insurer Bupa
Ergo completed $2.6 bn acquisition of the NEXT Insurance remaining share
Munich Re’s Ergo primary insurance group completed its $2.6 bn acquisition of the remaining share capital of insurtech NEXT Insurance
Enstar closed $5.1 bn acquisition by affiliates of Sixth Street
Enstar Group announced the closing of its $5.1 bn acquisition by investment vehicles managed by affiliates of Sixth Street
CatIQ estimated insurance losses from the Ontario & Quebec ice storm at C$416 mn
CatIQ estimated insurance industry losses from the ice storm that struck Ontario and Quebec between March 28 and 31 at CAD $416 mn
Insurance Australia Group estimated natural perils costs at A$1.1 bn
Insurance Australia Group Ltd. raised its fiscal-year 2025 guidance as estimated natural perils costs are projected at A$1.08 bn
Chariot Re would improve MetLife’s capital flexibility and allow growth
MetLife and General Atlantic announced in December the creation of Chariot Re, a Bermuda-based reinsurer that initially reinsures approximately $10 bn of annuities
Ryan Specialty acquired J.M. Wilson , a Michigan-based MGA offering personal lines
Ryan Specialty Holdings has completed its acquisition of J.M. Wilson Corp., a Michigan-based specialist managing general agent offering personal lines
Insurtech ZestyAI secured $15 mn credit facility from CIBC Innovation
ZestyAI, a provider of AI-based risk analytics for the property and casualty insurance industry, has secured a $15 mn credit facility from CIBC Innovation Banking
UK insurtech COVR raised $2.5 mn in seed funding
COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine
Fintech Conquest Planning secured $80 mn in a Series B led by Goldman Sachs
Conquest Planning, a financial planning software company, has secured $80 mn in a Series B funding round led by Goldman Sachs Alternatives
E&S insurtech Ledgebrook raised $65 mn in a Series C
Ledgebrook, an excess and surplus (E&S) insurtech startup, has raised $65 mn in a Series C funding round led by The Stephens Group
Insured losses from Mexico’s Hurricane Erick are expected to remain limited
Insured losses from Hurricane Erick, which made landfall last week in southern Mexico, are expected to remain limited
Lloyd’s welcoms removal of Section 899 from the U.S. reconciliation bill
Lloyd’s Chair, Sir Charles Roxburgh, issued a statement welcoming the removal of Section 899 from the reconciliation bill by the U.S. Treasury and Congress
MetLife expanded partnership with insurtech Sprout AI to accelerate claims automation
MetLife has expanded its partnership with insurance automation provider Sprout:ai to accelerate claims automation and improve customer experience
China’s non-life insurance sector maintained strong financial stability in Q1 2025
Fitch Ratings reports that China’s non-life insurance sector maintained strong financial stability during the first quarter of 2025
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
U.S. P&C insurance sector rebounded in 2024, driven by a $31 bn improvement
AM Best reported that the U.S. property and casualty (P&C) insurance sector rebounded in 2024, driven by a $31 bn improvement in the personal auto line
Aon launched Aon Broker Copilot, a proprietary AI platform
Aon announced the launch of Aon Broker Copilot, a proprietary, patent-pending platform that uses artificial intelligence, large-language models and predictive analytics
Clearspeed raised $60 mn in Series D to expand its AI-driven voice analytics
Insurtech Clearspeed has raised $60 mn in Series D funding to expand its AI-driven voice analytics technology for risk assessment across the insurance and national security sectors
Lloyd’s Lab accelerator has become a major force in insurance innovation, securing over $1 bn to support startups transforming the industry, launching 6 years ago
Venture capital funding in insurtech startups is stabilizing, driven by breakout-stage startups in Series B and C. Projections indicate it will reach $4.2 bn
Venture capital funding for generative AI startups is on track to exceed 2023's record-breaking levels. In the first three quarters of 2024, GenAI startups raised over $20 bn
Insurance claims management software can streamline intake, evaluation, validation, payouts and closure. Unfortunately, not all platforms are built to the same standard