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
News
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
European insurers face heavy losses after summer storms and heat
Western and central European insurers incurred several hundred mn € in estimated losses after severe convective storms struck on June 30 and again on July 2–3
FCA tightens rules on misconduct in UK insurance and finance
The UK’s FCA announced it is updating rules to improve detection and response to bullying, harassment, violence, and other forms of nonfinancial misconduct at insurance
Atrium Underwriting acquired by CRC Insurance Group
Atrium Underwriting Group announced it has entered into an agreement to be acquired by independent brokerage and underwriting specialty insurance distributor CRC Insurance Group
Australia’s securities regulator appeals Court ruling on HCF Life’s “Preexisting Condition” insurance term
Australia’s securities regulator appealed the Federal Court’s decision dismissing part of its proceedings against HCF Life Insurance Co concerning a “preexisting condition”
White Mountains invested $515 mn in MGA Bamboo Ide8
White Mountains Insurance Group has agreed to invest about $285 mn in California homeowners-focused managing general agent Bamboo Ide8
RV insurtech Roamly appointed as Lloyd’s coverholder
Four years earlier Outdoorsy, an online recreational vehicle rental and outdoor travel business, launched its insurtech division with SiriusPoint after raising $120 mn in equity and debt financing
Insurance costs for Red Sea shipping soar amid renewed houthi attacks
The cost of insuring vessels transiting the Red Sea has more than doubled over the past week as Houthi forces resumed attacks on commercial ships
U.S. property catastrophe reinsurance market shifts toward buyers
Aon reported that conditions in the U.S. property catastrophe reinsurance market continued to favor buyers at the mid-year renewals.
Florida reforms drive reinsurers to expand at mid-year renewals
Gallagher Re’s 1st View mid-year renewal report highlighted that recent legislative reforms in Florida encouraged reinsurers to write more broadly at mid-year renewals
Fortitude Re completed reinsurance transaction with Unum Life Insurance
Fortitude Re completed a reinsurance transaction through its subsidiary, Fortitude Reinsurance Company (FRL), with Unum Life Insurance Company of America
Ariel Re sponsored 5th catastrophe bond, Titania Re 2025-1, securing $150 mn
Global reinsurer Ariel Re sponsored its 5th catastrophe bond, Titania Re 2025-1, securing $150 mn of multi-peril retrocessional reinsurance protection over four years
Howden acquired a 68.3% majority stake in Holos insurance broker
Howden, the global insurance and reinsurance broking group, acquired a 68.3% majority stake in Holos Holdings, a Kyoto-based retail insurance broker founded in 2001 by Kei Horii
Zurich acquired cyber insurtech BOXX Insurance
Zurich Insurance Group announced its acquisition of BOXX Insurance Inc., a Toronto-based cyber insurance and risk management insurtech
Bupa faces Federal Court over misleading conduct, agrees to A$35 mn penalty
The Australian Competition and Consumer Commission (ACCC) filed proceedings in Australia’s Federal Court against insurer Bupa
Ergo completed $2.6 bn acquisition of the NEXT Insurance remaining share
Munich Re’s Ergo primary insurance group completed its $2.6 bn acquisition of the remaining share capital of insurtech NEXT Insurance
Enstar closed $5.1 bn acquisition by affiliates of Sixth Street
Enstar Group announced the closing of its $5.1 bn acquisition by investment vehicles managed by affiliates of Sixth Street
CatIQ estimated insurance losses from the Ontario & Quebec ice storm at C$416 mn
CatIQ estimated insurance industry losses from the ice storm that struck Ontario and Quebec between March 28 and 31 at CAD $416 mn
Insurance Australia Group estimated natural perils costs at A$1.1 bn
Insurance Australia Group Ltd. raised its fiscal-year 2025 guidance as estimated natural perils costs are projected at A$1.08 bn
Chariot Re would improve MetLife’s capital flexibility and allow growth
MetLife and General Atlantic announced in December the creation of Chariot Re, a Bermuda-based reinsurer that initially reinsures approximately $10 bn of annuities
Ryan Specialty acquired J.M. Wilson , a Michigan-based MGA offering personal lines
Ryan Specialty Holdings has completed its acquisition of J.M. Wilson Corp., a Michigan-based specialist managing general agent offering personal lines
Insurtech ZestyAI secured $15 mn credit facility from CIBC Innovation
ZestyAI, a provider of AI-based risk analytics for the property and casualty insurance industry, has secured a $15 mn credit facility from CIBC Innovation Banking
UK insurtech COVR raised $2.5 mn in seed funding
COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine
Fintech Conquest Planning secured $80 mn in a Series B led by Goldman Sachs
Conquest Planning, a financial planning software company, has secured $80 mn in a Series B funding round led by Goldman Sachs Alternatives
E&S insurtech Ledgebrook raised $65 mn in a Series C
Ledgebrook, an excess and surplus (E&S) insurtech startup, has raised $65 mn in a Series C funding round led by The Stephens Group
Insured losses from Mexico’s Hurricane Erick are expected to remain limited
Insured losses from Hurricane Erick, which made landfall last week in southern Mexico, are expected to remain limited
Lloyd’s welcoms removal of Section 899 from the U.S. reconciliation bill
Lloyd’s Chair, Sir Charles Roxburgh, issued a statement welcoming the removal of Section 899 from the reconciliation bill by the U.S. Treasury and Congress
MetLife expanded partnership with insurtech Sprout AI to accelerate claims automation
MetLife has expanded its partnership with insurance automation provider Sprout:ai to accelerate claims automation and improve customer experience
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
U.S. P&C insurance sector rebounded in 2024, driven by a $31 bn improvement
AM Best reported that the U.S. property and casualty (P&C) insurance sector rebounded in 2024, driven by a $31 bn improvement in the personal auto line
Aon launched Aon Broker Copilot, a proprietary AI platform
Aon announced the launch of Aon Broker Copilot, a proprietary, patent-pending platform that uses artificial intelligence, large-language models and predictive analytics
Clearspeed raised $60 mn in Series D to expand its AI-driven voice analytics
Insurtech Clearspeed has raised $60 mn in Series D funding to expand its AI-driven voice analytics technology for risk assessment across the insurance and national security sectors
Insurance Europe supports the EC’s plan to simplify cybersecurity regulations
Insurance Europe supports the European Commission’s plan to simplify cybersecurity regulations through its review of the Cybersecurity Act
Safe Auto Insurance and policyholder sued for ignoring $25K offer, causing $5 mn loss
Safe Auto Insurance Co. and its policyholder, Jaime Valdez, filed a lawsuit against the law firm Lewis Brisbois Bisgaard and Smith LLP for failing to act on a $25,000 settlement offer
Middle East conflict lifts marine insurance war risk rates
The ongoing conflict in the Middle East has prompted many marine insurance underwriters to withdraw coverage for vessels with perceived links to the U.S., U.K., or Israel
U.S. insurers paid $1 bn in lightning-related homeowners insurance claims
In 2024, U.S. insurers paid $1.04bn in lightning-related homeowners insurance claims, marking a 16.5% decline from $1.24bn in 2023
Insurtech Testudo launched a technology and data platform for underwriting
Testudo, a start-up supported by Lloyd’s of London through its innovation accelerator Lloyd’s Lab, has launched a technology and data platform for underwriting
Slide Insurance prices $408 mn IPO, shares to trade on Nasdaq under ticker ‘SLDE’
Slide Insurance has announced the pricing of its upsized initial public offering at $17.00 per share for 24,000,000 shares of common stock
The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
The US P&C insurance industry recorded a $16.3 bn net underwriting gain in the first three months of 2026, up significantly from a $1 bn loss recorded in the prior-year period
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure