Global credit faces downside risks despite insurance market resilience
Fitch Ratings reports that global credit conditions remain tilted toward downside risk, citing slowing economic growth, volatile U.S. trade policy
News
Catastrophe bond market hits record $6.5 bn in Q1 2025
Aon reports that Q1 2025 saw $6.5bn in new catastrophe bond issuance, setting a first-quarter record and surpassing the previous high by over $2.6bn.
Cayman insurance market adds 21 new international licenses in H1 2025
The Cayman Islands Monetary Authority (CIMA) approved 21 new international insurer licenses in the first half of 2025, reflecting continued growth in the commercial insurance, reinsurance
PERILS raises insurance industry loss estimate for Windstorm Éowyn to €747 mn
PERILS has increased its third industry loss estimate for extratropical windstorm Éowyn (also referred to as Gilles) to €747mn, up from €696mn in April
FBI and cybersecurity firms warn airlines of Scattered Spider attacks
The FBI and major cybersecurity firms are warning that Scattered Spider, a well-known hacking group, is now targeting the airline and transportation sectors
InsurTech & FinTech expansion drive growth of Dubai International Financial Center in 2025
The Dubai International Financial Centre (DIFC) recorded its strongest half-year performance to date, led by significant momentum in the insurance and FinTech sectors
Max Financial confirms data breach at Axis Max Life Insurance following hacker alert
India’s Max Financial Services has confirmed that its insurance arm, Axis Max Life Insurance, experienced unauthorized access to customer data following a tip-off from an anonymous source
Sputnik Digital launches AI Tool ‘Invntry’ to automate home contents valuation for insurers
The tool, Invntry, automatically compiles and estimates the value of items from images, streamlining a traditionally time-consuming process for both insurers and policyholders.
InsurTech Loxa secures £1.69 mn in seed funding to expand product protection platform
London-based InsurTech Loxa has raised £1.69 mn in seed funding to scale its retail-focused product protection platform
Insurance data platform Percayso Inform backs Pizza Insurance ahead of consumer launch
Insurance data platform Percayso Inform has partnered with startup motor insurance broker Pizza in preparation for Pizza’s official rollout later this year
RAC Insurance partners with Ticker to launch connected motor insurance products
RAC Insurance has formed an exclusive agreement with Ticker, a UK-based telematics insurance provider, to distribute a range of connected motor insurance products
Digital insurance MGA Ripe reported its 17th straight year of double-digit growth
A Manchester-based digital insurance MGA Ripe reported its 17th straight year of double-digit growth, with turnover reaching £20.6mn in 2024
Short-term car insurtech Cuvva reported growth – profit reached £12.8mn
Cuvva, a London-based short-term car insurance provider, reported record growth in 2024. Profit reached £12.8mn—triple the previous year’s result
UK motor insurance premiums rise driven by factors beyond insurers’ control
FCA stated that the recent increase in motor insurance premiums results largely from factors outside insurers’ control
Insurtech financing in Latin America reached $240 mn in 2025, a 370% increase
Insurtech financing in Latin America reached $121 mn in H1 2025, a 370% increase compared to the same period in 2024, according to a report by Digital Insurance LATAM
Lloyd’s granted ‘in principle’ approval for the new Atradius Syndicate 1864
Global credit insurer Atradius announces that Lloyd’s has granted ‘in principle’ approval for the new Atradius Syndicate 1864, targeting 1st January 2026
North American life reinsurance grew significantly – reserves increased to $2.4 tn
North American life reinsurance grew significantly in 2024, driven by expanding partnerships between insurers and alternative investment managers
Munich Re reported net result of €3.2 bn for H1 2025
Reinsurer Munich Re reported a preliminary net profit of €2.1 bn for Q2 2025 and a net result of approximately €3.2 bn for H1 2025
European Commission proposes Solvency II reforms to free capital and strengthen stability
The European Commission launched a consultation on draft technical measures under the Solvency II framework, including updates to insurance regulations covering areas
California proposes Federal Reinsurance Program to stabilize insurance and cut costs
California Democrat Sen. Adam Schiff introduced legislation to establish a federal catastrophic reinsurance program intended to stabilize state property insurance markets and reduce premiums
California FAIR Plan exposure surges 42% to $650 bn as wildfire risks rise
The California FAIR Plan’s exposure rose 42% to $650 bn during the nine months ending in June, as more insurers declined to renew or offer policies
Florida approves assumption of up to 228,947 Citizens policies by 7 insurers
The Florida Office of Insurance Regulation approved seven companies to assume up to 228,947 multiperil and wind-only personal residential policies from Citizens Property Insurance
Life insurtech Meanwhile releases audited bitcoin-denominated financial statements
Meanwhile Insurance Bitcoin (Bermuda), the life insurer fully denominated in Bitcoin (BTC), announced the completion and public release of audited financial statements
Ethena Labs partners with Re integrated real-world reinsurance via $sUSDe and $USDe
Ethena Labs, an established Ethereum-based synthetic dollar protocol, announced an exclusive collaboration with Re, a blockchain-based reinsurer that allows consumers to stake tokens
Crypto:com announced $120 mn insurance policy to protect digital assets
Crypto:com, a global crypto exchange platform, has strengthened its security measures by announcing a $120 mn insurance policy to protect its digital assets
Mercurity Fintech signed a $200 mn Equity Line of Credit Agreement with Solana Ventures
Mercurity Fintech Holding, a blockchain-powered fintech group, signed a $200 mn Equity Line of Credit Agreement with Solana Ventures
Coface Lloyd’s Syndicate 2546 is expected to begin underwriting in 2025
Trade credit insurer Coface SA announced it received in-principle approval from Lloyd’s to establish a new short-term trade credit syndicate, which will be managed by Apollo Syndicate
AI insurtech Quandri raised $12 mn in a Series A funding round
Quandri, a Canadian AI startup improving how insurance brokerages and agencies handle servicing work, raised $12 mn in a Series A funding round
AI startup Heron raised $16 mn in Series A led by Insight Partners
Heron, a startup applying AI to automate workflows in business lending, equipment finance, and insurance, raised $16 mn in Series A funding led by Insight Partners
Cargo thefts in the US increased by 27%, with losses estimated at $1 bn+
Cargo theft in the United States reached a record level in 2024, with stolen goods and estimated losses exceeding $1 bn for the first time and rising another 27% in 2025
American International Group appointed John Neal as president
American International Group Inc. appointed John Neal as president, effective Dec. 1. In this role, Neal will oversee AIG’s general insurance organization
Personal insurance litigation in Florida declined ~25% in H1 2025
Personal insurance litigation in Florida declined nearly 25% in the first half of 2025 compared with the same period in 2024, according to the Florida Office of Insurance Regulation
U.S. insurers absorbed 92% of the $84 bn in global NatCat insured losses
U.S. insurers absorbed 92% of the estimated $84 bn in global insured weather- or climate-related losses in the first half of 2025, illustrating the increasing impact of so-called non-peak perils
California Regulator Orders Innovative Partners to Stop Illegal Health Coverage Sales
The California Department of Insurance (CDI) issued a cease-and-desist order to Innovative Partners LP, stating the company operated illegally as an insurance provider
Insurtech Retirable raised $10 mn Series A round led by IA Capital Group
Retirable, a startup offering a retirement platform for everyday Americans, announced a $10 mn Series A round led by IA Capital Group
Startup Hourly is merging with business insurance provider WeSure Digital
Hourly, a startup providing workers’ compensation, time tracking, and payroll solutions, is merging with small business insurance provider WeSure Digital
Insurtech Coverflow raised $4.8mn in seed funding led by AIX Ventures
Insurtech Coverflow, which provides a platform that automates policy analysis, data entry, and workflow management for insurance brokers, has announced $4.8mn in seed funding
Herald acquired Babbix, an email-native AI agent developed for brokers
Herald, a provider of digital infrastructure for commercial insurance, has acquired Babbix, an email-native AI agent developed for brokers
AI-powered method for predicting underwriting performance at Lloyd’s
New AI-powered method for predicting underwriting performance at Lloyd’s, focusing on relative performance as a benchmark
Insurtech Verisk acquired SuranceBay for $162.5mn
Insurtech Verisk entered a definitive agreement to acquire SuranceBay, a provider of producer licensin, and compliance software for the life and annuity sector, for $162.5mn
MS Amlin calls for an overhaul of pricing as climate risks increase
The London market re/insurer MS Amlin calls for an overhaul of pricing and resilience measures as climate risks increase
U.S. flood insurance market grown, but only 4% of U.S. homeowners have flood insurance
The U.S. private flood insurance market has grown quickly in recent years, showing favorable underwriting results, but it remains a small part of the property/casualty industry
Insurtech INSHUR secured $35 mn in new funding from Trinity Capital
Insurtech INSHUR, a provider of insurance solutions for the on-demand economy, secured $35 mn in new funding from Trinity Capital
Embedded insurtech Wrisk raised £12 mn in Series B to support European growth
Wrisk, a provider of embedded insurance solutions for the automotive industry, closed its Series B funding round, raising £12 mn to support European growth
Athora acquires the UK’s Pension Insurance Corp. Group for £5.7 bn
Athora Holding, a European savings and retirement business, agreed to acquire the United Kingdom’s Pension Insurance Corp. Group (PICG) for about £5.7 bn
Louisiana enacts laws to address rising home and auto insurance costs
Louisiana lawmakers have enacted a series of laws aimed at addressing the state’s rising home and auto insurance costs, combining tort reforms, tax deductions for home-hardening projects
Florida Court grants Universal P&C Insurance new trial over jury bias in claim case
Florida’s Fourth District Court of Appeal ruled in favor of Universal Property and Casualty Insurance Co., granting the insurer another opportunity to defend its denial of a home insurance claim
UK plans Captive Insurance Framework by 2027 to strengthen market and support businesses
The United Kingdom government announced it is working on regulations to expand and support the captive insurance sector, aiming to implement the framework by mid-2027
A lawsuit resumed in Nevada to block the introduction of state-run health insurance in 2026
Nevada Senate Minority Leader Robin Titus and the National Taxpayers Union are reviving litigation in an attempt to block the implementation of the state’s public health insurance option in 2026
Digital bank Monzo launched flexible home insurance product
Monzo has launched a flexible home insurance product specifically for homeowners, combining buildings and contents coverage to simplify and modernise
Insurtech Laka raised $10.4 mn in Series B funding round
Insurtech Laka continues to build momentum in the green mobility insurance market, reinforced by raising $10.4 mn in its latest Series B funding round
Property & casualty insurance landscape in Texas – Triple-I’s analysis
The Insurance Information Institute (Triple-I) published an analysis of the property/casualty insurance landscape in Texas, revealing a complex risk environment
Provenance Blockchain targets life insurance with tokenization of policies
Life insurance, with its extensive recordkeeping and detailed terms, stands out among financial services as particularly well-suited for blockchain applications
Premiums from US cyber insurance coverage fell by 2.3% to just under $7.1 bn
Premiums from US cyber insurance coverage fell by 2.3% to just under $7.1 bn in 2024, marking the first annual decline since the National Association of Insurance Commissioners
Chesnara acquired the U.K. life insurance business of HSBC Bank for £260 mn
Chesnara and its subsidiaries announced they have entered an agreement to acquire the U.K. life insurance business of HSBC Bank for £260 mn in cash
U.S. Supreme Court upholds constitutionality of Preventive Care Task Force
The United States Supreme Court ruled the U.S. Preventive Care Task Force is constitutional, preserving current coverage requirements for private and public health plans
Australia’s Federal Court fines ACBF A$3.5 mn for misleading claims of Aboriginal ownership
Australia’s Federal Court fined ACBF Funeral Plans A$3.5 mn for falsely representing that the funeral expenses insurance provider was Aboriginal-owned
Florida cuts RAP funding by $1.1 bn and eliminates FORA reinsurance program
Florida Gov. Ron DeSantis signed a bill reducing available funds for the state’s Reinsurance to Assist Policyholders program by $1.1 bn
Willis launched $200 mn facility “Undercover” for cargo owners
Willis launched a $200 mn facility named “Undercover,” which combines coverage for a range of geopolitical exposures for cargo owners globally
Nationwide completed $1.25 bn acquisition of Allstate’s group health segment
Nationwide completed its $1.25 bn acquisition of Allstate’s group health segment, positioning itself as a leading provider of employer stop-loss business
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
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
Health insurance is an integral part of employee benefits packages in the United States. However, any employer federally required to provide this compensation could admit that their costs can be burdensome
Fitch Ratings warns U.S. health insurers face a tougher 2026 as medical costs rise, ACA subsidies expire, and policy uncertainty weighs on margins