New York Convention overrides Louisiana arbitration ban in insurance disputes
The U.S. Second Circuit Court of Appeals reversed its earlier decision, ruling that arbitration clauses established under the New York Convention
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New York Court confirms Rhode Island law applies in Zurich insurance dispute over $8.6mn claim
The New York Supreme Court Appellate Division upheld a lower court’s decision confirming that the applicable law in an insurance dispute
Lloyd’s appointed Patrick Tiernan as CEO, effective June 1
The Council of Lloyd’s has appointed Patrick Tiernan as the next chief executive officer, effective June 1, pending regulatory approval
Aspen Insurance adds 2.6 mn shares to IPO, targeting $77.6 mn
Aspen Insurance Holdings plans to add 2.6 mn ordinary shares to its initial public offering at a price of $30 per share, totaling $77.6 mn
Florida Legislature passes bill on foster care insurance coverage reform
The Florida Legislature passed a bill aimed at addressing foster care insurance coverage by limiting liability for subcontractors involved in the system
Aon named Anthony DiLorenzo as head of US casualty for Reinsurance Solutions
Aon, a global professional services firm, named Anthony DiLorenzo as head of US casualty for Reinsurance Solutions
Amanda Lyons appointed as CEO of Aon Reinsurance Solutions in Bermuda
Aon, a global professional services firm, announced that Amanda Lyons had been appointed CEO of Aon Reinsurance Solutions Limited in Bermuda
Lloyd’s invested in cyber insurtech BreachBits
Lloyd’s has invested in BreachBits, a cyber risk technology company founded by former US military cyber warfare professionals
ClimateTech Mitigrate secured strategic investment from Lloyd’s
Mitigrate, a ClimateTech SaaS company and Lloyd’s Lab alumni, has secured a strategic investment from Lloyd’s, with continued backing from existing investors
ZestyAI received regulatory approval for Severe Convective Storm suite
ZestyAI, a provider of AI-based insurance risk analytics, has received regulatory approval from the Ohio Department of Insurance for its Severe Convective Storm suite
MIB is acquiring Clareto from Munich Re Life US
MIB, a provider of data-focused services for the life insurance sector, is acquiring Clareto from Munich Re Life US, a subsidiary of Munich Re
MetLife reported 10% increase in Q1 net income, reaching $879 mn
MetLife reported a 10% increase in first-quarter net income, reaching $879 mn, supported by a net gain from derivatives and growth in premiums and fees
AXA XL reported 7% revenue growth in Q1 2025, reaching €21 bn
AXA XL reported a 7% increase in gross written premiums and other revenues in Q1 2025, reaching €21bn. This included a 12% rise in AXA XL Reinsurance premiums
U.S. annuity sales reached $105.4 bn in Q1 2025
U.S. annuity sales reached $105.4 bn in the first quarter, coming within 1% of the record set in Q1 2024, according to preliminary data from LIMRA
U.S. Court revives lawsuit against Kinsale Insurance over shooting settlement delay
A federal appeals court ruled that a jury should hear a bad-faith lawsuit against Kinsale Insurance Co., which faces accusations of failing to make a timely settlement offer related to a shooting incident
Florida lawmakers propose attorney fee shift in insurance disputes via mining legislation
Provisions altering the rules for awarding attorney fees in Florida have been added to legislation originally focused on procedures for phosphate mining litigation
Louisiana approved several insurance-related bills focused on legal reforms
The Louisiana House of Representatives approved several insurance-related bills focused on legal reforms, covering areas such as trial evidence rules and limits on specific types of damage awards
Allstate reported Q1 2025 net income of $566 mn attributable to common shareholders
Allstate Corp. reported Q1 2025 net income of $566 mn attributable to common shareholders, a 52.4% decline from the previous year
Hanover Insurance Group reported Q1 net income of $128 mn
Hanover Insurance Group Inc. reported first-quarter net income of $128.2 mn, up from $115.5 mn a year earlier
California Assembly Insurance Committee approved the California Safe Homes Act
The California Assembly Insurance Committee approved the California Safe Homes Act with a 16-0 vote. The legislation, backed by the insurance industry
Louisiana passed House Bill 148 to give the insurance commissioner more authority
Louisiana’s House of Representatives passed House Bill 148, which would give the insurance commissioner more authority to reject rate filings considered excessive
MediHelp International launched CoverGo’s health insurance platform
MediHelp International has officially gone live with CoverGo’s next-gen, end-to-end health insurance platform
AIaaS insurtech CLARA Analytics announced new subrogation detection capabilities
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurance claims optimization, announced game-changing subrogation detection capabilities
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
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
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
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
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