Marco Capital acquires R&Q Gamma in continued expansion of run-off portfolio
Marco Capital Holdings, a European property and casualty run-off group, has acquired R&Q Gamma, a subsidiary of R&Q Insurance Holdings
News
Aflac targeted by cybercriminal group as insurance sector faces ongoing attacks
A sophisticated cybercrime group that has been targeting insurance companies launched an attack on Aflac
Allianz UK to cut 650 jobs amid digital shift
Allianz UK will reduce its workforce by 650 positions across its operations in the United Kingdom as it adjusts to increased demand for digital services
Australian life insurer sanctioned for misleading customers on review rights
The Life Insurance Code Compliance Committee (Life CCC) of Australia sanctioned a life insurer for failing to properly inform 170 customers of their right
IRS settles with Alta Holdings co-founder over unlawful microcaptive insurance schemes
The Internal Revenue Service (IRS) reached a settlement with Bruce Molnar, co-founder and majority owner of Alta Holdings, U.S. Risk Associates Insurance, and Newport Re
Louisiana law introduces penalties for auto insurers
A new Louisiana law signed by Gov. Jeff Landry introduces penalties for auto insurers that increase premiums solely because a policyholder turns 65
United Risk Global finalized its acquisition of Pinnacle Underwriting
United Risk Global has finalized its acquisition of Pinnacle Underwriting, an Australian managing general agent specializing in facultative reinsurance
ACCC clears Allianz’s acquisition of RAAI personal insurance business in South Australia
Australia’s competition regulator, the Australian Competition and Consumer Commission (ACCC), announced it will not oppose the proposed acquisition
UK regulators’ risk aversion and inefficiencies limit financial sector growth
A report by the House of Lords Financial Services Regulation Committee (FSRC) identified risk-averse practices within supervisory bodies and inefficiencies across the regulatory system
Louisiana vetoed Senate Bill 111 aimed at limiting bad faith lawsuits against insurers
Louisiana Governor Jeff Landry vetoed Senate Bill 111, a proposed measure intended to limit the number of lawsuits filed against insurance companies
California investigates State Farm General Insurance over wildfire claims handling
State Farm General Insurance confirmed it is cooperating with a market conduct examination initiated by the California Department of Insurance
Maria Ailor named interim director of Arizona Insurance Department
Maria Ailor assumed the role of interim director of the Arizona Department of Insurance and Financial Institutions (DIFI), as reflected on the regulator’s official website
U.S. insurance regulators oppose federal AI moratorium in reconciliation bill
Insurance commissioners from across the United States have asked the U.S. Senate to reconsider specific provisions in the reconciliation bill known as the “One Big Beautiful Bill Act.”
Louisiana advance roof tax credit and stated value Home Insurance Bill
Louisiana lawmakers are advancing legislation related to home insurance as the legislative session approaches its June deadline
Samsung Fire & Marine Insurance invested in Canopius $570 mn
Samsung Fire & Marine Insurance (SFMI) has agreed to invest an additional $570 mn in London-based Lloyd’s underwriter Canopius, acquiring a further 21% equity stake
U.K. Court awards AerCap $1 bn in aircraft insurance dispute over Russia losses
AerCap announced that a U.K. Court ruling has confirmed its entitlement to approximately $1 bn in insurance recoveries tied to aircraft and engines stranded in Russia
FCA partners with NVIDIA to support AI innovation in UK insurance & financial services
FCA has partnered with NVIDIA Corp. to provide regulated financial firms with access to the company’s computing infrastructure and enterprise AI software
Severe storms in U.S. and Europe cause hundreds of millions in insured losses: Aon
Aon reported that severe storms in both the United States and Europe in late May and early June 2025 caused insured losses totaling hundreds of millions of dollars across both regions
NAIC advances disclosure rules for offshore life reinsurance
The NAIC Life Actuarial Task Force has endorsed disclosure-only asset adequacy testing guidelines for reinsurance
Michigan Senate considers Bills 328-329 mandating auto insurance discounts
A legislative proposal in Michigan introduces mandatory premium reductions and consumer protection measures for auto insurance buyers. Senate Bills 328 and 329
PERILS releases 2nd insurance loss estimate for Cyclone Alfred at AUD 2.25 bn
PERILS has published its second insurance industry loss estimate for Cyclone Alfred, which impacted Queensland and New South Wales
PERILS releases final insurance loss for Southern Germany Floods at €1.56 bn
PERILS AG has issued its final industry loss estimate for the floods that occurred in southern Germany between 31 May and 6 June 2024
Insurtech AIFT and Shin Kong Life Insurance partnered to expand into Vietnam
Insurtech AIFT and Shin Kong Life Insurance have signed a cooperation agreement to expand into Vietnam’s digital insurance sector
UK insurance leaders call for industry-wide adoption of single data standard
A group of executives from U.K. insurance firms, trade bodies, and standard-setting organizations published an open letter urging the insurance industry and related sectors to adopt a single data standard
Hawaii passed Senate Bill 1044, which reactivates the Hawaii Hurricane Relief Fund
The Hawaii Legislature passed Senate Bill 1044, which reactivates the Hawaii Hurricane Relief Fund and expands the authority of the Hawaii Property Insurance Association
California approved Senate Bill 495, introducing new requirements for P&C insurers
The California Senate approved Senate Bill 495, which introduces new requirements for property insurers and has drawn opposition from industry groups
U.S. lawmakers reintroduce bill to ban non-driving factors in auto insurance pricing
House Resolution 336, reintroduced in the U.S. House of Representatives as the Prohibit Auto Insurance Discrimination Act, seeks to ban auto insurers from using non-driving-related factors
Cover Genius and TAL innovate to address underinsurance in Australia
Australian life insurer, TAL, has partnered with leading global insurtech Cover Genius to launch embedded life insurance in Australia
Insurtech Kota secured €12.8 mn in a Series A led by Eurazeo
Kota, an Dublin-based insurtech startup focused on simplifying insurance benefits administration, has secured €12.8 mn in a Series A
Trucordia will receive a $1.3 bn investment from Carlyle’s Global Credit platform
Trucordia, formerly known as PCF Insurance Services, will receive a $1.3 bn investment from Carlyle’s Global Credit platform
TPA insurtech Reserv secured $25 mn in Series B funding
Reserv, a technology-driven third-party administrator (TPA), has closed a $25 mn Series B funding round led by Flourish Ventures
Insurtech platform Empathy raised $72 mn in a Series C funding
Insurtech platform Empathy has raised $72 mn in a Series C funding round led by Adams Street Partners
Igloo introduced Igloo Tech Solutions, focused on digital tools for insurance
Igloo has introduced Igloo Tech Solutions, a new product line focused on digital tools for insurance operations in Southeast Asia
Auto insurance platform Crabi secured $13.6 mn in Series A funding
Crabi, a digital auto insurer based in Mexico, secured $13.6mn in Series A funding. The round was co-led by Kaszek and Ignia, with additional support from 30N
Cyber insurtech Baobab secured €12 mn in Series A
Baobab, a Berlin-based cyber insurance company, secured €12 mn in a Series A funding round led by Viola FinTech and eCapital
Startup Voxel raised $44 mn in Series B round led by NewRoad Capital
Voxel, a California-based startup founded in 2020, has raised $44 mn in a Series B round led by NewRoad Capital Partners
Aon appoints Dan Hartung as global head of event response for Risk Capital
Aon announced that Dan Hartung has been named global head of event response for Risk Capital, effective immediately
Aon appointed Andy Marcell to serve as CEO of Global Solutions
As CEO of Global Solutions, Marcell now leads Aon’s integrated Risk Capital and Human Capital capabilities across the firm’s Reinsurance, Commercial Risk
EMEA insurers maintain strong capital positions and buffers
Insurers based in Europe, the Middle East, and Africa (EMEA) maintain strong capital positions and buffers, enabling them to absorb external shocks effectively
Insurtech bolttech completed $147 mn Series C funding round
Insurtech firm bolttech has completed a $147 mn Series C funding round, bringing its valuation to $2.1 bn
Start Network and Aon launched new reinsurance mechanism
Start Network, a coalition of over 50 humanitarian organisations, and Aon, a global re/insurance broker, have launched a new reinsurance mechanism
Patrick Tiernan sets strategic focus on profitability as new Lloyd’s CEO
Patrick Tiernan, newly appointed CEO of Lloyd’s, outlined his vision for the marketplace by stating that the organisation must prioritise sustainable profitability
FCA revised enforcement insurance guidelines and expands transparency measures
FCA released a revised version of its enforcement guidelines, reducing the document by 250 pages through the removal of duplicate content and more concise formatting
U.S. annualized premium for individual life insurance reached $3.9 bn in Q1 2025
New annualized premium for individual life insurance in the U.S. reached $3.94 bn in the first quarter of 2025, marking an 8% increase compared to the same period in 2024
Florida Court backs Amerisure’s denial of condo defect claim, rejects $8.5 mn settlement
A federal court in Florida upheld Amerisure Insurance Co.’s denial of coverage in a dispute over construction defects at a condominium complex
BaFin reviews German insurers’ exposure to alternative assets
Germany’s financial regulator BaFin is reviewing the investment strategies of 30 to 40 insurance companies with unusually high exposure to alternative assets
EIOPA proposed guidelines on artificial intelligence use in insurance
European Insurance and Occupational Pensions Authority (EIOPA) has proposed draft guidelines on artificial intelligence use in insurance
Mid-May storms drive up U.S. insured losses to $4-7 bn
Severe convective storms across central U.S. states in mid-May, including destructive tornadoes and hail, likely caused insured losses between $4 bn and $7 bn
Canada launches changes to Life Insurance Capital Adequacy Test
Canada’s Office of the Superintendent of Financial Institutions (OSFI) launched three consultations and introduced changes to the Life Insurance Capital Adequacy Test
Louisiana Senate deferred proposed insurance bills to cut auto insurance rates
Louisiana Senate Judiciary A Committee deferred four proposed insurance bills after none of the authors appeared to present them
Dai-ichi Life acquires 15% stake in M&G to expand in the U.K. and Europe
Dai-ichi Life Holdings Inc. plans to acquire a 15% stake in M&G plc to expand its operations in the U.K. and European life insurance
New York court ordered Millennia Assurance to deposit $4.75 mn
New York court ordered Millennia Assurance Inc. to deposit $4.75 mn in collateral into a trust account after siding with New York Marine and General Insurance
Canada expands data pooling program that uses AI to detect potential fraud
The Canadian Life and Health Insurance Association (CLHIA) is expanding its data pooling program that uses artificial intelligence to detect potential fraud
Louisiana enacts sweeping auto insurance reforms to cut rates
Louisiana Governor Jeff Landry signed a six-bill legislative package aimed at lowering automobile insurance costs by limiting certain legal claims
Canadian life insurance new premium rose 13% YoY to C$508 mn
Canadian life insurance new annualized premium rose 13% year over year to C$508 mn in the first quarter of 2025
Peak Re established Peak Reinsurance North America
Peak Reinsurance has established Peak Reinsurance North America, a new subsidiary based in Bermuda. The company will focus on casualty reinsurance
California FAIR Plan paid $2.7 bn after receiving more than 5,000 claims from LA wildfires
California FAIR Plan paid $2.7 bn after receiving more than 5,000 claims from the Palisades and Eaton fires in Los Angeles
Sweden tightens insurance controls on Russian vessels in the Baltic Sea
Sweden is increasing oversight of insurance coverage for Russian vessels operating in the Baltic Sea. This was reported by Swedish radio outlet Ekot
Glenn Renwick, former CEO of Progressive, died following car accident
Glenn Renwick, the former President, CEO and Chairman of the Board of the Progressive Corporation, has died at age 69 following a car accident in Florida
Ryan Specialty acquired Irish MGU 360 Degree Underwriting
Ryan Specialty Holdings Inc. said it has acquired 360 Degree Underwriting, an Irish managing general underwriter
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.