Mission Underwriters backs launch of Lumara Insurance in the UK
Mission Underwriters launches Lumara Insurance in the UK, offering combined business and motor trade cover for brokers under a single policy structure
News
US House bill aims to restore National Flood Insurance Program fast
A new House bill seeks to retroactively renew and extend the National Flood Insurance Program through December 2026 after its lapse during the government shutdown
AIG and Onex secure $7 bn deal for majority stakes in Convex Group
AIG and Onex will acquire major stakes in Convex Group, valuing the insurer at $7bn and deepening their strategic partnership across global specialty markets
UK Justice Ministry reviews whiplash reform impact on insurance costs
The UK’s Ministry of Justice reviews the whiplash reform to assess its effect on injury claims, insurer savings, and fairness for unrepresented claimants
The National Association of Insurance Commissioners’ 2026 budget expands data & AI tools
NAIC’s proposed 2026 budget boosts tech and oversight investments, with revenue up 7.1% to $178.8mn and expense growth slowing to 6.3%
Clyde & Co appoints of Kirsten Wilkerson as a partner in its Washington office
Global law firm Clyde & Co announced the appointment of Kirsten Wilkerson as a partner in its Washington, DC, office
Fitch sees top global reinsurers sustaining strong P&C results in 2025
Fitch sees top global reinsurers sustaining strong P&C results, but pricing pressure looms as 2026 renewals approach and profitability questions mount
AWS outage dubbed “Amazonk” may cost cyber insurers up to $581 mn
CyberCube estimates AWS outage losses at $38mn-$581mn, with most impact clustering low. Over 70,000 firms hit, insurers view risks as manageable
U.S. life insurers face risks from private credit and Level III asset exposure
Private credit and Level III assets raise liquidity, valuation and rating risks for US life insurers as markets shift and borrower leverage climbs
European reinsurers over-capitalised ahead of 1/1 renewals, pressure builds
European reinsurers walk into the 1/1 reinsurance renewal season with capital levels stacked way above their own targets
Lloyd’s kicked off 2025 reinsurance capacity auctions with a bang
Lloyd’s of London kicked off its 2025 reinsurance capacity auctions with a bang. Trading in the first of three auctions hit £86 mn
Fitch revises 2026 global reinsurance outlook to deteriorating amid competition
Fitch cuts global reinsurance outlook to deteriorating for 2026, citing weaker pricing, higher catastrophe losses, and persistent social inflation pressures
Cambridge Mobile Telematics and TransUnion launch portable driving scores
CMT and TransUnion team up to create portable consumer driving scores, giving drivers control over safe driving data and insurers instant risk visibility
Munich Re outlines Europe’s Nat Cat and cyber exposures, rising reinsurance demand
Munich Re outlines Europe’s Nat Cat and cyber exposures, rising reinsurance demand, and the need for differentiated approaches in complex global programs
Customer satisfaction in the U.S. individual life insurance market looks stable
J.D. Power 2025 reveals volatile shifts in life insurance satisfaction, with wide brand gaps and stronger scores for direct-to-carrier policies
QuickFacts adds BOXX Insurance to expand cyber coverage tools for brokers
QuickFacts partners with BOXX Insurance to give brokers faster access to cyber protection, real-time threat intelligence, and prevention-first insurance solutions
HSB Canada launches CyberPro cyber insurance for businesses up to $2 bn
HSB Canada, part of Munich Re, rolls out CyberPro – cyber insurance with claims, monitoring, and risk tools for Canadian firms across multiple industries
Guidewire to acquire ProNavigator for context-aware intelligence in P&C
Guidewire signs deal to acquire ProNavigator, boosting AI-driven knowledge tools for insurers across sales, underwriting, claims, and customer service teams
Aviva Ventures invests in Indico Data to push AI adoption in insurance
Aviva Ventures invests in Indico Data, boosting AI automation in insurance and expanding adoption across global carriers, including London Market leaders
US P&C insurers see upgrades rise in H1 2025, downgrades steady
AM Best reports slight increase in US P&C insurer upgrades to 18 in H1 2025, downgrades flat at 20, with personal lines hit by catastrophe losses and inflation
S&P upgrades Vienna Insurance Group outlook to positive on CEE growth
S&P raised VIG and VIG RE outlooks to positive, citing stronger diversification, CEE earnings growth, and the planned NUERNBERGER acquisition in Germany
UK insurers hit by rising third-party risks as data gaps widen
85% of UK insurers face third-party risk impacts, with weak data and outdated tools limiting decision-making despite higher spending on cybersecurity and ESG
INSTANDA secures $20 mn to expand InsurTech platform in US and Europe
London InsurTech INSTANDA raises $20m led by CommerzVentures, pushing total funding beyond $85m, fueling AI-driven growth, acquisitions, and US-Europe expansion
Swiss Re pauses new life insurance deals in Australia as TPD claims soar
Swiss Re halts new business in Australia, citing unsustainable TPD insurance costs, with $1.43bn mental health claims in 2024 straining the financial system
Court upholds CMS ruling on Humana’s 3.5 Medicare Advantage Star Rating
A federal court sided with CMS, rejecting Humana’s bid to recalculate its 3.5 Medicare Advantage Star Rating tied to call center test calls
Omnix Medical secured $25 mn Series C to advance antibiotic resistance therapies
Jerusalem-based Omnix Medical raises $25 mn Series C, led by Harel Insurance & Finance and the EIC Fund, to push Phase II trials of its lead drug OMN6
Insurtech Previsico secures Series A to expand live flood forecasting globally
UK InsurTech Previsico raises Series A led by CI, BlueOrchard, and early backers to scale its live flood forecasting platform in the US, UK, and emerging markets
Simply Business rolls out AI insurance advisor for small businesses
Simply Business launches AI-powered advisor to simplify insurance buying, boost engagement, and support small business owners with personalized coverage guidance
Insurtech Federato launched agentic AI platform to overhaul insurance underwriting
Federato debuts agentic AI and Control Tower, aiming to modernize underwriting, portfolio management, and insurer workflows beyond legacy systems
Wright Flood to acquire Poulton Associates as private flood insurers gain ground
Wright Flood, a Brown & Brown unit, moves to buy Poulton Associates amid NFIP shutdown fallout and shifting demand for private flood insurance
Actuaries need direct data control to modernize loss reserving
Legacy systems slow actuarial teams. Direct data access and central repositories can cut reserving turnaround from days to hours while improving accuracy
Allianz reshapes Commercial Board with new market and distribution leaders
Allianz Commercial appoints Jeremy Sharpe and Christian Sandric to Board roles from Jan 2026, strengthening broker, client, and regional market focus
MSIG names Eric Schaap global broker engagement head in new role
MSIG appoints Eric Schaap as SVP and Global Broker Engagement Manager to strengthen global broker ties, align markets, and drive growth through analytics
Cyber insurance claims fall in 2025 as firms boost resilience
Allianz data shows cyber claim severity down 50% in 2025 as large firms harden defenses, but ransomware and data theft remain top drivers, hitting SMEs hardest
Louisiana proposes property insurance discounts for Fortified home upgrades
Louisiana insurers must offer 20-30% premium cuts for Fortified mitigation projects under new rules; regulators seek comment until Nov. 10
MetLife’s Metropolitan Tower takes on $1.8 bn Kodak pension transfer
MetLife unit Metropolitan Tower assumes $1.8B in Kodak pension liabilities for 27,000 retirees as Kodak winds down KRIP and plans debt repayment
IAG fields 3,000+ storm claims after giant hail hits Southeast Queensland
IAG brands including NRMA and RACQ Insurance are handling thousands of claims after severe hail and storms struck Brisbane, Gold Coast and Sunshine Coast
Insurance Australia Group lifts 2026 outlook after $855 mn RACQI acquisition
Insurance Australia Group boosts 2026 profit and premium guidance after completing its A$855M RACQI deal, forecasting up to A$1.75B in reported profit
Northeastern Insurance files Chapter 15 in NY over sex abuse claim surge
Bermuda-based Northeastern Insurance seeks Chapter 15 protection in New York after 55 sex abuse claims under NY’s Child Victims Act exceed its assets
Michigan boosts insurance regulator budget to $79.4 mn after proposed cuts
Michigan lawmakers reversed earlier budget cuts, approving $79.4 mn for the insurance regulator, including added funds for legal cases and economic adjustments
Insurers press EU for simpler sustainability reporting under CSRD
Insurance Europe and CFO Forum urge EU to ease sustainability reporting, citing complex double materiality, litigation risks, and GHG disclosure burdens
OneAdvent expands financial lines MGA with new Lloyd’s capacity deal
OneAdvent secures Lloyd’s capacity for its financial lines MGA, plans EU and emerging market expansion; Alta Signa appoints France country manager
Federal court rejects bid to block new ACA Marketplace rules
A Massachusetts federal judge denied a preliminary injunction against ACA rule changes on enrollment, premiums, and benefits; lawsuits in multiple states continue
Utah home insurers push double-digit rate hikes as wildfire risk grows
Dozens of Utah home insurers raised rates in 2025, some by over 35%, as population growth, wildfire threats, and construction costs reshape the state’s market
Tesla Insurance faces license threat in California over 2,500+ violations
California regulators accuse Tesla Insurance and State National of thousands of violations, threaten suspensions, fines up to $10k, and license loss
Cayman Islands issues 11 new insurance licenses, growth tops 2024 pace
Cayman Islands approved 11 new insurance licenses in Q3, with 32 total in 2025 so far, highlighting stability and $173bn in assets across licensed insurers
Clyde & Co names Jon Ebner and Ronald Ohren as new Chicago partners
Global law firm Clyde & Co has added two senior names to its U.S. roster, appointing Jon Ebner and Ronald Ohren as partners in the firm’s Chicago office
China will expand the scope of institutions offering commercial insurance
China will expand the scope of institutions offering commercial endowment insurance services to meet the people’s diversified needs for elderly care
Liberty Mutual, Continental push N.C. Supreme Court review on asbestos claims
Liberty Mutual and Continental ask North Carolina Supreme Court to review asbestos workers’ comp ruling they say conflicts with precedent on bellwether cases
Yuexiu completes full takeover of Hong Kong Life with $130 mn capital boost
Yuexiu Enterprises finalizes Hong Kong Life acquisition, injecting HK$1 bn ($130m) to expand retirement, health, and Greater Bay Area insurance growth
Strategic Limited Partners exits Minnesota after $290k penalty for unlicensed health plans
Strategic Limited Partners must halt insurance business in Minnesota, repay consumers, and pay $290k after selling unauthorized health plans tied to MNsure confusion
Florida Senate Bill 158 pushes stricter pet insurance disclosures & reporting rules
Florida Senate Bill 158 proposes tougher pet insurance disclosures, annual insurer reporting, and new continuing education for agents selling the line
Illinois sues State Farm to force release of nationwide homeowners insurance data
Illinois pushes State Farm to hand over nationwide homeowners data after sharp rate hikes. Regulators say the info is critical for affordability oversight
Florida bill seeks to bar AI-only insurance claim denials, mandate human review
Florida Senate Bill 202 would require insurers to ensure humans make final claim denial decisions, with written affirmations and regulator oversight
Exzeo targets $178 mn in IPO proceeds with $20–$22 share pricing range
HCI subsidiary Exzeo aims to raise up to $177.8M from IPO, projecting Q3 net income up fourfold and managed premiums more than doubling year over year
New York fines 8 auto insurers $19 mn over cybersecurity violations, data breaches
New York DFS fined eight auto insurers and agencies $19 mn for weak cybersecurity controls that exposed personal data through online quoting systems
UK motor insurer Premier Insurance enters administration, 16,000 policies hit
Premier Insurance Co. placed into administration by Gibraltar regulator, with FSCS stepping in to protect 16,000 UK motor policyholders
US pension risk transfer sales plunge in 2025 as annuities hit records
LIMRA reports PRT premiums fell 64% in Q2 2025 to $4.1bn, while total annuity sales hit a record $226.1bn in the first half of the year
October storms bring $100 mn+ insured losses across U.S. coasts and Alaska
A series of severe storms across the U.S. and Alaska in mid-October could leave insurers with losses in the hundreds of millions
Vienna Insurance Group acquires Nürnberger in €1.38 bn deal with major backer support
VIG launches €120-per-share offer for Nürnberger valued at €1.38bn, with 64% of shareholders pledging support ahead of regulatory review
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
Major deals have led global M&A activity in 2024, showing increasing confidence among dealmakers despite geopolitical and economic challenges
Deloitte presents new trends in insurance mergers and acquisitions for 2024-2025, focusing on how economic, regulatory, and strategic factors might shape the future.