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
The U.S. insurance sector reported a decrease of 100 positions in April compared to March, ending a six-month period of job growth
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
The U.S. Supreme Court will review whether plaintiffs in a case against State Farm Automobile Insurance Co. must demonstrate actual financial harm
Lemonade Inc. reported a net loss of $62.4mn for the first quarter, up from $47.3mn in the same period last year
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, the insurance division of Markel Group, has agreed to acquire Meco Group, a specialist marine managing general agent
Insurtech Lemonade disclosed that the driver’s license numbers of approximately 190,000 insurance applicants were mistakenly shared
The Secure Family Futures Act, reintroduced in both chambers of the U.S. Congress, would allow life insurers to treat debt investments
Oregon legislators are again reviewing a proposal that would bring the insurance industry under the scope of the state’s Unlawful Trade Practices Act
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, 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
Digital home insurance provider Kin has exceeded $100bn in total insured property value (TIV), marking a significant milestone in its expansion and profitability
Likewize, a global provider of device protection, repair services, and technical support, has acquired Speedperform, a company specializing in AI-based customer support
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
Dynamic AI platform for insurance Earnix has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks
Workplace life, disability, and supplemental health insurance products in the U.S. recorded a fourth consecutive year of growth in 2024
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 Group has announced a voluntary share-based exchange offer valued at €6.3 bn to acquire 100% of Banca Generali
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, an independent insurance data provider, has released its second industry loss estimate for Windstorm Éowyn (also referred to as Gilles).
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 has called on the European Commission to act urgently following the United States’ decision to withdraw from the global minimum tax initiative
Insurance Europe supports the European Commission’s (EC) revised approach aimed at simplifying regulation, improving competitiveness, and securing sustainable
An ice storm that struck parts of Ontario and Quebec a month ago caused C$342 mn in insured damage
The Alberta government introduced legislation that, if passed, will underpin the largest transformation of the auto insurance system in provincial history
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
Three additional Russian insurers, including a unit of Sberbank, have requested approval from India to provide marine insurance for oil shipments to Indian ports
Fitch Ratings asserts that Korean insurers are equipped to handle decreased valuations in their international commercial real estate (CRE) investments
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
Cloud data security insurtech Sentra secured $50 mn in Series B funding, increasing its total capital raised to over $100 mn
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, announced it has increased the capacity of its Shield terrorism risk program to $500 mn from $250 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 Insurance Commissioner Ricardo Lara supports proposed legislation to create updated consumer privacy rules for insurers
Admiral Group announced the sale of its U.S. automobile insurtech, Elephant Insurance Co. and Elephant Insurance Services
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 Governor Laura Kelly approved legislation permitting one or more sponsors to establish a protected cell captive insurance company
U.S. insurers accounted for the majority of global insured losses in the first quarter, which reached the highest level in 15 years
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 has disclosed its initial industry loss estimate for Cyclone Alfred which affected the Australian states of Queensland and New South Wales
PERILS, the company providing industry-wide catastrophe insurance data, has released the PERILS Industry Exposure Database 2025
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
Ocient, a data analytics software company, announced it raised $49.4 mn in additional Series B funding
UnderwriteMe, the insurtech company owned by Pacific Life Re, has named Andrew Doran as its new chief executive officer
EU insurers to maintain minimal exposure to crypto assets if the European Commission adopts a proposed 100% Solvency II (S2) risk charge
The UK Financial Conduct Authority (FCA) released the results of a review examining valuation practices in private markets
Aon released its Q1 Global Catastrophe Recap for April 2025, providing analysis of natural disaster events worldwide during the first quarter
The Louisiana House of Representatives Committee on Civil Law and Procedure has approved a set of automobile insurance-related bills
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 introduced new regulations to define terms, require disclosures, and establish other regulatory standards for pet insurance and wellness programs
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
Ignyte Insurance launched as a specialty insurance platform focused on acquiring, expanding, and supporting insurance brands in niche global markets
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
Swiss Re announced that Bernhard Kaufmann will succeed Patrick Raaflaub as Group Chief Risk Officer as of 1 October 2025
UK-based insurtech Marshmallow has raised £68 mn through a mix of debt and equity financing, bringing its valuation to £1.5 bn
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 (VIG), based in Austria, has acquired a 48.82% stake in Polish financial broker Phinance
Luma Financial Technologies, a global insurtech company in structured products and insurance solutions, has raised $63mn in Series C funding
Chapter, a Medicare guidance insurtech platform headquartered in New York, secured $75mn in Series D funding led by Stripes
