Truss Peak acquired Leaders Life Insurance, based in Oklahoma
Truss Peak Holdings LLC, through its subsidiary TPH Insurance Hold Co. LP, has acquired Leaders Life Insurance Co., based in Tulsa, Oklahoma
News
Chubb, Zurich, and National Indemnity launch $100 mn excess Casualty Insurance Facility
Chubb, Zurich North America, and National Indemnity Co. have introduced an excess casualty facility offering up to $100 mn in lead excess casualty insurance capacity on a claims-made basis
U.S. insurance sector ends 6M job growth streak with April 2025 decline
The U.S. insurance sector reported a decrease of 100 positions in April compared to March, ending a six-month period of job growth
TWIA secures $500 mn credit line ahead of 2025 Hurricane Season
The Texas Windstorm Insurance Association (TWIA) board approved a $500 mn line of credit at its final meeting before the start of the 2025 hurricane season
U.S.Supreme Court to rule on class action standards in State Farm case
The U.S. Supreme Court will review whether plaintiffs in a case against State Farm Automobile Insurance Co. must demonstrate actual financial harm
Lemonade reported a net loss of $62.4 mn for Q1 2025
Lemonade Inc. reported a net loss of $62.4mn for the first quarter, up from $47.3mn in the same period last year
Justice Department accuses major insurers of $100 mn+ Medicare advantage kickback scheme
The U.S. Department of Justice has accused several major health insurers of spending hundreds of millions in kickbacks to influence large broker firms to enroll individuals in their Medicare
Markel acquires Marine MGA Meco Group, expanding global marine capabilities
Markel, the insurance division of Markel Group, has agreed to acquire Meco Group, a specialist marine managing general agent
Lemonade reports driver’s license data exposure linked to quote system flaw
Insurtech Lemonade disclosed that the driver’s license numbers of approximately 190,000 insurance applicants were mistakenly shared
Secure Family Futures Act would allow life insurers to treat debt investments
The Secure Family Futures Act, reintroduced in both chambers of the U.S. Congress, would allow life insurers to treat debt investments
Oregon reconsider expanding Trade Practices Act to include insurance
Oregon legislators are again reviewing a proposal that would bring the insurance industry under the scope of the state’s Unlawful Trade Practices Act
Global insured losses could exceed $300 bn in a peak year – Swiss Re
Swiss Re warned that insured losses could exceed $300bn in a peak year, underscoring the essential role of the reinsurance sector, which holds $500bn in capital
Verisk launched a catastrophe model designed to assess the SRCC in the U.S
Verisk, a data analytics and technology firm, has introduced a catastrophe model designed to assess the financial impact of strikes, riots, and civil commotion (SRCC) in the U.S
Home insurtech Kin exceeded $100 bn in total insured property value
Digital home insurance provider Kin has exceeded $100bn in total insured property value (TIV), marking a significant milestone in its expansion and profitability
Likewize acquired Speedperform, a company specializing in AI customer support
Likewize, a global provider of device protection, repair services, and technical support, has acquired Speedperform, a company specializing in AI-based customer support
Sapiens acquires AdvantageGo for £43 mn to expand global P&C platform in the UK
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
AI-insurtech Earnix acquired Zelros, a GenAI startup for insurers
Dynamic AI platform for insurance Earnix has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks
U.S. workplace insurance and annuity sales rise in 2025, setting multiple records
Workplace life, disability, and supplemental health insurance products in the U.S. recorded a fourth consecutive year of growth in 2024
April severe weather brings widespread hail and tornado damage – Aon
Severe weather in the second half of April caused significant property damage across several U.S. states, with insured losses expected to reach hundreds of millions of dollars
Mediobanca launches €6.3 bn share offer for 100% of Banca Generali
Mediobanca Group has announced a voluntary share-based exchange offer valued at €6.3 bn to acquire 100% of Banca Generali
Texas Senate passes Bill 1643 requiring regulatory approval for insurance rate changes
The Texas Senate has passed Senate Bill 1643, which would shift the state’s insurance rate-setting system from file-and-use to a prior approval model
PERILS updated insurance loss estimate of €696 mn for Windstorm Éowyn
PERILS, an independent insurance data provider, has released its second industry loss estimate for Windstorm Éowyn (also referred to as Gilles).
Industry opposes Louisiana Bill to create state-backed catastrophe reinsurance fund
Industry groups are opposing House Bill 672 in the Louisiana House of Representatives, which proposes a state-run catastrophe reinsurance fund backed by state-issued bonds
Insurance Europe urges EU action after US abandons global minimum tax
Insurance Europe has called on the European Commission to act urgently following the United States’ decision to withdraw from the global minimum tax initiative
Insurance Europe highlights several specific elements in the EC’s Omnibus proposal
Insurance Europe supports the European Commission’s (EC) revised approach aimed at simplifying regulation, improving competitiveness, and securing sustainable
Ontario and Quebec ice storm caused C$342 mn in insured damage
An ice storm that struck parts of Ontario and Quebec a month ago caused C$342 mn in insured damage
Alberta government proposes major overhaul of auto insurance system
The Alberta government introduced legislation that, if passed, will underpin the largest transformation of the auto insurance system in provincial history
Oregon Court reversed a $26.3 mn class-action award against Farmers
The Oregon Supreme Court reversed a $26.3 mn class-action award against Farmers, ruling that omitting statutory details from a director-approved notice does not expose
Russian insurers seek Indian approval for marine insurance of oil shipments
Three additional Russian insurers, including a unit of Sberbank, have requested approval from India to provide marine insurance for oil shipments to Indian ports
Korean Insurers Prepared for Decline in Commercial Real Estate Investment Values
Fitch Ratings asserts that Korean insurers are equipped to handle decreased valuations in their international commercial real estate (CRE) investments
Insurtech Steadily raised $30 mn in Series C, reaching $355 mn valuation
Landlord insurtech Steadily secured $30 mn in Series C funding, bringing its total valuation to $355 mn. This latest round increases the company’s total funding to $89.5 mn
Sentra raised $50 mn in Series B to expand AI and Cloud Data Security Platform
Cloud data security insurtech Sentra secured $50 mn in Series B funding, increasing its total capital raised to over $100 mn
SECUTIX and insurtech Cover Genius launched ticket protection partnership
SECUTIX, a market leader in advanced digital solutions for the event industry, announced the launch of a new ticket protection partnership with Cover Genius
Aegis, a Lloyd’s underwriter, offers terrorism coverage for U.S. businesses
Aegis, a Lloyd’s underwriter, announced it has increased the capacity of its Shield terrorism risk program to $500 mn from $250 mn
Annual insured losses from wildfires in Canada increased to C$706 mn
Average annual insured losses from catastrophic wildfires in Canada have increased to C$706 mn over the past decade, compared to an average of C$84 mn
California advances bill 354 to strengthen consumer data privacy in insurance
California Insurance Commissioner Ricardo Lara supports proposed legislation to create updated consumer privacy rules for insurers
Admiral sells U.S. auto insurtech Elephant to refocus on UK & Europe
Admiral Group announced the sale of its U.S. automobile insurtech, Elephant Insurance Co. and Elephant Insurance Services
Fintech Octane Lending secured a $700 mn facility from life insurers
Octane Lending, a fintech company that finances recreational purchases such as all-terrain vehicles, secured a $700 mn forward-flow facility from a group of life insurers
Kansas approves law establishing rules for protected cell captive insurers
Kansas Governor Laura Kelly approved legislation permitting one or more sponsors to establish a protected cell captive insurance company
U.S. insurers face $50 bn in Q1 losses amid Los Angeles Wildfires and Storms
U.S. insurers accounted for the majority of global insured losses in the first quarter, which reached the highest level in 15 years
Nevada Bill 180 proposes doubling liability insurance for trucking companies
The Nevada Senate approved a bill to raise the minimum liability insurance limits for motor carriers from the federally mandated $750,000 to $1.5 mn
PERILS estimated Cyclone Alfred insurance loss in Australia at AUD 2,568 mn
PERILS has disclosed its initial industry loss estimate for Cyclone Alfred which affected the Australian states of Queensland and New South Wales
PERILS released the Industry Exposure Database 2025
PERILS, the company providing industry-wide catastrophe insurance data, has released the PERILS Industry Exposure Database 2025
Insurtech 1Fort secured $7.5 mn to expand AI-powered insurance platform
1Fort, an AI platform for business insurance, has raised $7.5mn in an oversubscribed funding round led by Bonfire Ventures. This brings 1Fort’s total funding to $10mn
Insurtech Ocient raised $49.4 mn in additional Series B funding
Ocient, a data analytics software company, announced it raised $49.4 mn in additional Series B funding
Insurtech UnderwriteMe named Andrew Doran as new CEO
UnderwriteMe, the insurtech company owned by Pacific Life Re, has named Andrew Doran as its new chief executive officer
EU insurers to keep crypto exposure low under proposed S2 risk charge
EU insurers to maintain minimal exposure to crypto assets if the European Commission adopts a proposed 100% Solvency II (S2) risk charge
FCA review of private market valuations: findings, recommendations, industry outlook
The UK Financial Conduct Authority (FCA) released the results of a review examining valuation practices in private markets
Aon released Q1 Global Catastrophe Recap, providing analysis of natural disasters
Aon released its Q1 Global Catastrophe Recap for April 2025, providing analysis of natural disaster events worldwide during the first quarter
Louisiana advances Auto Insurance Reform to address legal system abuse
The Louisiana House of Representatives Committee on Civil Law and Procedure has approved a set of automobile insurance-related bills
U.S. Supreme Court case challenges preventive care mandates in insurance
U.S. Supreme Court will begin hearing arguments in Kennedy v. Braidwood, a case that questions the constitutionality of the U.S. Preventive Services Task Force
Florida expands pet insurance regulations with new disclosure and standards
Florida introduced new regulations to define terms, require disclosures, and establish other regulatory standards for pet insurance and wellness programs
Landmark Admin updated the number of individuals affected by cyberattack to 1.6 mn
Landmark Admin LLC has updated the number of individuals affected by last year’s cyberattack to 1.6 mn, according to a data breach notice
Insurtech Ignyte launched as a specialty platform for insurance brands
Ignyte Insurance launched as a specialty insurance platform focused on acquiring, expanding, and supporting insurance brands in niche global markets
California insurers accused of collusion to force homeowners onto high-cost Fair Plan
Two law firms representing California homeowners have accused several of the state’s largest home insurance companies of working together to eliminate standard property policies
Bernhard Kaufmann will succeed Patrick Raaflaub as Swiss Re’s Group CRO
Swiss Re announced that Bernhard Kaufmann will succeed Patrick Raaflaub as Group Chief Risk Officer as of 1 October 2025
UK insurtech Marshmallow raised £68 mn, bringing valuation to £1.5 bn
UK-based insurtech Marshmallow has raised £68 mn through a mix of debt and equity financing, bringing its valuation to £1.5 bn
Crypto life insurtech Meanwhile raised $40 mn in a Series A, valued at $190 mn
Meanwhile, a life insurance startup that operates exclusively in Bitcoin, raised $40mn in a Series A funding round. The company is now valued at $190mn
Vienna Insurance Group acquired a 48.8% stake in financial broker Phinance
Vienna Insurance Group (VIG), based in Austria, has acquired a 48.82% stake in Polish financial broker Phinance
Luma Financial Technologies sequred $63 mn in Series C
Luma Financial Technologies, a global insurtech company in structured products and insurance solutions, has raised $63mn in Series C funding
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