Insurtech Hippo posts $98.1 mn Q3 profit after homebuilder sale, underwriting gains
Hippo swung to $98.1 mn Q3 profit from an $8.5 mn loss, driven by a $91 mn homebuilder network sale and strong casualty and commercial line growth
News
Berkshire Hathaway Q3 underwriting profit triples to $3.16 bn
Berkshire Hathaway’s Q3 pretax underwriting earnings tripled to $3.16 bn, led by reinsurance and primary gains despite weaker Geico results
Allstate sues Texas pain clinics for $1.7 mn insurance fraud scheme
Allstate alleges a Texas pain clinic network inflated $1.7 mn in auto injury bills through fake procedures and unlawful fee-splitting, seeking $5.2 mn in damages
Fairfax Q3 2025 profit rises to $1.15 bn as underwriting, investments climb
Fairfax Financial’s Q3 earnings hit $1.15 bn, up from $1.03 bn, on stronger underwriting, fewer catastrophe losses, and $426 mn in investment gains
Lemonade narrows Q3 2025 net loss 45% to $37.5 mn as AI cuts expenses
Lemonade’s Q3 net loss fell 45% to $37.5 mn as AI-driven automation cut loss adjustment costs and premiums more than doubled year over year
Nippon Life completes $8.2 bn acquisition of Resolution Life Group
Nippon Life finalizes its $8.2 bn takeover of Resolution Life, forming Acenda in Australasia and expanding its life and reinsurance reach globally
MetLife Q3 2025 profit falls 36% to $818 mn on derivative, investment losses
MetLife posts $818 mn Q3 net income, down 36%, as derivative and investment losses offset higher revenue and growing pension risk transfer deals
Hurricane Melissa causes up to $4.2 bn insured losses in Jamaica
Verisk estimates Jamaica’s insured losses from Hurricane Melissa at $2.2–$4.2 bn, with near-total building destruction in landfall zones
Willis appointed of three senior hires to its Direct and Facultative team in the UK
Willis, a WTW business, announced the appointment of three senior hires to its Direct and Facultative team in Great Britain
Verisk warns insurers as frequency perils surge, losses hit $152 bn
Verisk reports global insured property losses now average $152 bn as frequency perils surge and severe thunderstorms dominate catastrophe risk
New York lawmakers propose $10 mn State Catastrophe Fund Authority
A New York bill proposes a $10 mn Catastrophe Fund Authority to reimburse insurers for disaster losses and stabilize the state’s property market
New York Bill 9218 seeks to limit auto crash damages for certain drivers
New York lawmakers propose limiting auto accident damages for uninsured motorists, intoxicated drivers, and those involved in felonies or hit-and-runs
Illinois House rejects insurance rate control bill opposed by industry
Illinois lawmakers voted down a bill that would have expanded state oversight of insurance rates, data use, and climate risk disclosures for large carriers
North Carolina court rejects insurers’ bid to toss Tanger COVID suit
North Carolina Business Court denied insurers’ motion to dismiss Tanger’s COVID-19 coverage lawsuit, citing state law and the company’s close connection to NC
Fidelis Partnership launches Lloyd’s Syndicate 2126 with $300 mn capacity
Fidelis Partnership and Blackstone launch Lloyd’s Syndicate 2126 with $300 mn capacity, boosting TFP’s underwriting growth and London market presence
Ryan Specialty to acquire Stewart Specialty Risk Underwriting in Canada
Ryan Specialty expands in Canada with the acquisition of Stewart Specialty Risk Underwriting, a managing underwriter for high-hazard property and casualty risks
Pacific Life Re enters Japan with first asset-intensive reinsurance deals
Pacific Life Re completes its first asset-intensive flow reinsurance transactions in Japan, expanding its footprint and deepening ties with local life insurers
Munich Re to close venture arm, shift investments under MEAG unit
Munich Re will close its venture capital arm and move startup investments to asset manager MEAG as it centralizes innovation within core business units
Florida House Bill 261 targets employer-owned life insurance with new rules
Florida lawmakers propose HB 261 to regulate employer-owned life insurance, limit coverage to key staff, and require reporting and public disclosure
New Mexico insurers ordered to update UM/UIM forms after court ruling
New Mexico insurers must update disclosure forms to show per-vehicle uninsured and underinsured motorist coverage costs following a Supreme Court decision
State Farm cuts Florida auto insurance rates again, down 20% total
State Farm trims Florida auto premiums by another 10%, marking a 20% total cut in a year as insurers credit reduced litigation for lower costs
Hurricane Melissa hits Jamaica with 185 mph winds, low insured losses
Hurricane Melissa’s 185 mph winds bring heavy damage to Jamaica and Cuba, with billions in losses expected but low insured coverage across the region
Starr to acquire IQUW Group to expand underwriting reach at Lloyd’s
Starr agrees to acquire IQUW Group, boosting its position at Lloyd’s and expanding underwriting capacity across specialty, property, and motor markets
California’s insurance regulator drafts long-term solvency rule to tackle AI and climate risk
California’s insurance regulator unveils a solvency rule addressing climate risk, cyberthreats, and AI misuse, requiring insurers to plan decades ahead
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
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
The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
U.S. life insurers posted modest Prism score gains, with resilient capital strength despite rising annuity volumes and investment risk pressures
US insurance sector outlook for 2025-2026: capital strength, social inflation risks, P&C returns peak, Florida reforms, life insurance resilience and alt capital trends
Life insurers keep stable portfolios in 2026, but rising private credit, PLRs, FABNs, and less-liquid assets lift investment risk and regulatory scrutiny