Caribbean insurers benefit from softer reinsurance – AM Best
AM Best reports easing reinsurance costs and improved profitability for Caribbean insurers, while warning global economic shocks still threaten the region
News
Lockton Re strengthens Latin America team with senior hires
Lockton Re appoints Dario Luna as Regional Leader of Strategic Risk Solutions and adds Antonio Rodriguez to expand Latin America and Caribbean capabilities
Insurance broker stocks slide after OpenAI approves first carrier AI app
Broker shares fall about 9% after ChatGPT approves an insurer AI app, as analysts debate disintermediation risks and long-term impact on distribution
Pension Insurance Corporation secures £155 mn buy-in for Vistry schemes
Pension Insurance Corporation secures £155 mn buy-in covering 1,671 members across three Vistry final salary pension schemes in the UK
Reinsurers face softer rates yet margins seen strong in 2026
Autonomous expects robust reinsurance profitability in 2026 as structural price adequacy and stable terms offset mid-teen rate declines in property cat.
Kniazha VIG secures $25 mn DFC war risk reinsurance facility
Kniazha VIG signs $25 mn reinsurance facility with US DFC, enabling up to $100 mn in war risk cover for Ukrainian SMEs and private property
Gallagher Bassett buys Reck & Co to expand marine insurance claims reach
Arthur J. Gallagher expands claims platform as Gallagher Bassett acquires Germany-based Reck & Co, strengthening cross-border marine and transport claims services
Deutsche Bank weighs return to life insurance via Frankfurter Leben
Deutsche Bank and DWS consider a minority stake in Frankfurter Leben, reopening life insurance exposure after a decade away from the sector
Insurtech Indigo raises $50 mn Series B to scale AI medical liability platform
US medical professional liability insurer Indigo secures $50 mn in oversubscribed Series B funding to expand AI underwriting and national distribution
SCOR expands cyber underwriting with MGA Baobab partnership in Germany
SCOR adds Lloyd’s capacity to Baobab Insurance’s CyberSafe policies, extending cover to firms up to €1 bn in revenue across Germany and Austria
Prudential of Japan halts new sales for 90 days after misconduct probe
Prudential of Japan suspends new sales from Feb. 9, 2026, to overhaul governance and compensate customers after employee misconduct findings
Prudential Japan CEO exit puts governance and investor trust under strain
CEO resignation at Prudential’s Japan life unit following employee misconduct raises governance questions as investors assess oversight across international operations
Insurance blocks MLB stars from World Baseball Classic rosters
Insurance denials force top MLB players out of the 2026 World Baseball Classic, exposing how coverage rules now shape who can compete
Congo unrest drives political violence insurance premiums up to 10x
Political violence insurance premiums in DR Congo surged up to tenfold after eastern unrest, boosting insurers while raising costs for mining operators
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
Los Angeles wildfires reveal gaps in insurance wildfire risk models
Analysis of the Jan 2025 Los Angeles fires shows why fuel structure, access, and ember dynamics matter more than ignition risk for insurance underwriting
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
Cargo theft shifts online as insurers warn of rising digital freight fraud
IUMI and TAPA EMEA warn cargo crime is surging worldwide, with digital fraud replacing physical theft as losses reach billions across supply chains
Kansas Insurance Commissioner weighs ending cost-sharing for follow-up breast cancer exams
Kansas Insurance Commissioner Vicki Schmidt backs SB 409 to remove out-of-pocket costs for follow-up breast cancer testing after abnormal mammograms
Insurtech Pasito raises $21 mn Series A to build AI workspace for benefits
Pasito secures $21 mn Series A led by Insight Partners to scale its AI-native workspace across group health, life, and retirement benefits operations
🇺🇸 New York targets auto insurance fraud as premiums near $4,000
New York moves to curb auto insurance costs with fraud crackdowns, payout limits for at-fault drivers, and revived enforcement as premiums run far above the US average
Insurtech Gain Life rebrands to Crosstie to scale AI insurance workflows
InsurTech Gain Life rebrands as Crosstie, expanding AI-driven workflow automation across P&C insurance operations, claims, underwriting, and customer self-service
Aviva launches private clients unit via Lloyd’s of London market expansion
Aviva enters a new high-net-worth phase by launching Aviva Private Clients through Lloyd’s, enabling cross-border cover, multi-currency policies, and bespoke underwriting
FCA urges insurers to rebuild trust as 66% of 🇬🇧 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
🇺🇸 New York auto insurance hits record $1,935 as affordability worsens
New York drivers spent a record $1,935 on auto insurance, ranking among the least affordable states as repair costs, injuries, and claims expenses climb
🇳🇵Nepal arrests Everest rescue officials over $20 mn insurance fraud
Nepal detains six rescue agency officials accused of staging helicopter evacuations near Mount Everest to extract nearly $20 mn from global insurers
Wisconsin DNR warns flood risk rising as wettest decade hits state
Wisconsin officials urge residents to assess flood risk and insurance options during Flood Insurance Awareness Week as flooding remains the state’s most common hazard
Louisiana insurers push tort reform as home insurance costs bite
Louisiana insurance agents urge lawmakers to cap damages and pass legal reforms as high property insurance costs slow homeownership and limit market competition
🇺🇸 US auto insurance costs rise as luxury and performance models drive premiums
Full coverage auto insurance in the US averaged $2,312 per year, or about $193 per month. That figure sits below the $2,746 annual average
In 🇿🇼 Zimbabwe, funeral insurance outpaces health cover as care costs soar
With healthcare unaffordable for most Zimbabweans, funeral insurance has become the dominant financial product, reflecting deep cultural priorities and systemic collapse
Radian completes $1.67 bn acquisition of Lloyd’s 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
Aon partners with ICICI Prudential to deploy PathWise actuarial platform
ICICI Prudential Life Insurance adopts Aon’s PathWise platform to unify actuarial modelling across IRBCF and IFRS 17 as India’s life market scales
Massachusetts court backs reinsurer reimbursement after Polaroid collapse
A Massachusetts appeals court ruled a reinsurer can recover COLA payments from the trust fund even after a self-insured employer enters bankruptcy
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
Steve Schell named Aon’s global life sciences industry leader
Aon leading global professional services firm, announced Steve Schell has been named Aon’s global life sciences industry leader
Slide Insurance targets $250 mn Purple Re cat bond with wider storm coverage
Slide Insurance returns to the cat bond market seeking $250 mn via Purple Re 2026-1, expanding named storm coverage beyond prior deals
Munich Re launches Lloyd’s pandemic parametric insurance consortium
Munich Re sets up a Lloyd’s consortium offering parametric pandemic cover, using WHO-based triggers to address a widening global protection gap
KCC estimates $6.7 bn insured losses from Winter Storm Fern
Karen Clark and Company puts privately insured losses from Winter Storm Fern at $6.7 bn, driven mainly by freeze damage and power outages
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.
Aon delivered strong performance and finished 2025 with 9% total revenue growth
Aon delivered another quarter of strong performance and finished 2025 with 9% total revenue growth, 6% organic revenue growth and double-digit free cash flow
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
Florida bill targets Citizens Insurance arbitration rules, offers jury trial option
Florida lawmakers weigh changes to Citizens Insurance arbitration, giving policyholders a choice between mandatory arbitration and jury trials amid legal scrutiny
Florida regulators approved new auto insurance rate cuts heading into 2026
Florida regulators approved new auto insurance rate cuts heading into 2026, with USAA’s 7% reduction adding over $125 mn in annual savings
Florida drops insurance fraud case tied to AOB claims against Tower Hill
Criminal fraud charges against a Florida restoration contractor linked to AOB litigation were dismissed, leaving insurers frustrated as civil suits continue
USAA cuts Florida auto insurance rates 7% as pricing stays firm elsewhere
USAA will lower Florida auto rates by 7% in May, bucking national trends as tort reform, loss moderation, and strong earnings reshape pricing
Italian insurance market grows toward €150 bn as non-life stays strong
Italy’s insurance market expanded through 2025, with non-life premiums rising about 8.5% and digital adoption reshaping distribution and risk models
Fitch: APAC reinsurance pricing stays soft in 2025, risks mount into 2026
Fitch says APAC reinsurance pricing will stay soft in 2025 amid rising capacity, but climate risks and competition could pressure margins ahead of 2026
German healthtech Recare raises €37 mn to scale AI platform abroad
Berlin-based Recare secures up to €37 mn led by DNV to expand its AI-driven hospital workflow platform and accelerate international growth
Paris VC Daphni closes €260 mn Blue fund for science-driven startups
Daphni finalises its €260 mn Blue fund to back European science-based startups, as DeepTech capital flows stay strong across 2025–2026
Aon teams up with DataRobot to apply agentic AI in insurance workflows
Aon works with DataRobot to deploy agentic AI across onboarding and servicing, targeting faster processing, oversight-ready automation, and client visibility
GEICO settles overtime lawsuits with call-center staff for $900,000
GEICO agreed to pay over $900,000 to resolve overtime claims from call-center workers, covering unpaid login time and alleged off-the-clock work
US winter storms drive billions in insured losses as risk climbs – Aon
Winter storms across the US continue to generate multi-bn insured losses, exposing homeowners, drivers, and businesses to rising financial risk
Winter storm drives $105-115 bn losses across US economy
AccuWeather estimates massive economic losses from a winter storm affecting 200 mn people, with insured losses reaching into the billions
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
D&O insurance delivers decade-best loss ratio as underwriting cycle turns
D&O liability delivered its strongest calendar-year loss ratio in more than a decade in 2025, coming in at 50%, even after three consecutive years of declining direct written premiums
Brown & Brown says Howden hiring spree cut $23 mn in annual revenue
Brown & Brown CEO says staff departures to Howden US cost $23 mn in revenue, as legal disputes escalate despite strong 2025 results
Delaware court backs D&O insurance coverage, rejects bump-up exclusion defense
Delaware Supreme Court orders insurers to cover a $28 mn D&O settlement, ruling bump-up exclusion does not apply to Harman–Samsung deal
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
Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y