Israel’s government-backed insurance scheme absorbs the majority of war losses
S&P has reported that Israel’s government-backed insurance scheme is expected to absorb the majority of losses linked to the ongoing conflict with Iran
News
LHL Strategies acquired software company ClearLife
LHL Strategies, operating as Lighthouse Life, has acquired ClearLife, a UK-based firm with software and consulting operations in both the UK and the US
American InsurTech Council challenges NAIC’s push for data vendor definitions
The American InsurTech Council (AITC) has raised concerns about the current direction of the National Association of Insurance Commissioners’ (NAIC) Third-Party Data
Air India crash triggers $475 mn insurance loss, pressures aviation premiums
India’s most severe aviation disaster in over ten years, involving the crash of an Air India Boeing 787, to result in insurance claims totaling approximately $475mn
UK High Court ruling in favour of aircraft lessors raises major risks for re/insurers
The High Court of Justice in London recently ruled in favour of aircraft lessors for the 2021 and 2022 underwriting years
Insurtech Instnt entered a strategic partnership with reinsurer Munich Re
Instnt, an insurance technology company backed by venture capital, has entered a strategic partnership with global reinsurer Munich Re
Coalition launched the Helios platform through its reinsurance arm, Coalition Re
Coalition, the first Active Insurance provider focused on digital risk prevention, has launched the Helios platform through its reinsurance arm, Coalition Re
ICEYE expands SAR constellation to 54 satellites with latest SpaceX launch
Insurtech ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, has successfully deployed six additional Synthetic Aperture Radar
ILS and collateralised markets dominate Citizens’ $4.49bn 2025 risk transfer programme
Florida Citizens Property Insurance Corporation has finalized its 2025 risk transfer programme, securing $4.49bn in total coverage, with insurance-linked securities
Reinsurance strength and risk management key for insurers amid Iran-Israel War
Morningstar DBRS has warned that insurers with strong reinsurance protection, conservative investment portfolios, and active enterprise risk management (ERM) frameworks
Kin Insurance finalizes $1.65 bn reinsurance program across key markets
Kin Insurance has completed its reinsurance placements for the term covering June 1, 2025, through May 31, 2026, for the reciprocal exchanges
95% of UK and 89% of US insurers use AI for data ingestion, but governance gaps remain
New research from insurtech provider hyperexponential (hx) reveals that data ingestion is the most widely adopted AI use case in the insurance sector
Fitch: European insurance sector maintains neutral outlook despite market volatility
Fitch Ratings has affirmed a ‘neutral’ outlook for the European insurance sector at mid-year 2025, citing stable operating conditions despite increased financial market volatility
Cyber reputation risk events can cut shareholder value by 27%
Reputation-related cyber incidents can reduce shareholder value by an average of 27%, according to Aon’s 2025 Global Cyber Risk Report
Texas to establish $10 mn bitcoin reserve following Governor’s approval of Senate Bill 21
Texas has become the first U.S. state to formally establish and fund a publicly held bitcoin reserve after Governor Greg Abbott signed Senate Bill 21 into law
Marsh launches €1 bn facility Nimbus for data center construction risk in UK and Europe
Marsh has introduced a €1bn insurance facility named Nimbus to support clients involved in large-scale data center construction projects in the UK and Europe
Sen. Rick Scott introduces Flood Insurance Reform Bills to increase transparency
Florida Republican Senator Rick Scott has introduced several bills aimed at increasing transparency in the National Flood Insurance Program (NFIP)
Regulators approve Aviva’s £3.7 bn acquisition of Direct Line
Aviva plc has received regulatory approval from the Financial Conduct Authority and the Prudential Regulation Authority for its £3.7bn acquisition of Direct Line Insurance Group
Tokenized reinsurance can expand capital access and lower industry costs
Tokenization of real-world assets, particularly reinsurance contracts, offers an opportunity to expand capital sources in the insurance sector
Oklahoma bans assignment of benefits for property and auto insurance claims
Oklahoma Governor Kevin Stitt has signed House Bill 1084 into law, prohibiting most forms of assignment of benefits agreements under auto, residential, andl property insurance
Ohio Farmers to sell Westfield Bancorp to First Financial for $325 mn
Ohio Farmers Insurance Co., parent of Westfield Insurance, has agreed to sell Westfield Bancorp to First Financial Bancorp in a cash and stock deal valued at $325mn
Aon reports mid-June storms cause major insured losses across Europe and Asia
Insurers in Europe and Asia may each face insured losses in the hundreds of millions of dollars following a series of mid-June storms
Florida approves Southern Oak and American Integrity to assume 51,500 Citizens policies
The Florida Office of Insurance Regulation (FLOIR) has approved requests from Southern Oak Insurance Co. and American Integrity Insurance Co. to assume a total of 51,500 policies
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
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
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