French embedded insurtech NEAT Protect raised €50 mn in Series A
French embedded insurtech NEAT Protect raised €50mn in Series A funding, led by Hedosophia, with support from Mundi Ventures, ETFS Capital
News
UK-based insurtech Policy Expert secured new backing from PE-firm Cinven
Policy Expert, a home and motor insurtech, has secured new backing from international private equity firm Cinven to fuel its expansion plans
Lloyd’s modernizing framework for dealing with poor conduct in reinsurance market
Lloyd’s plans to update its framework for for dealing with poor conduct & behaviors, addressing both financial and nonfinancial issues in the market
Re/Insured losses from a Calgary Hailstorm IBC estimated $2.1 bn
Hailstones the size of chicken eggs led to an estimated $2.1 bn (C$2.8 bn) in insured losses from a severe storm in Calgary, Alberta, on August 5, according to the Insurance Bureau of Canada
25% rise in London company reinsurance treaty premiums, reaching £11 bn
Data from the International Underwriting Association (IUA) shows a 25% rise in London company reinsurance treaty premiums over the past year, reaching £11 bn
Florida Regulators approve takeout of property insurance policies
The Florida Office of Insurance Regulation has approved requests from eight carriers to take over 232,535 personal residential multiperil policies and 2,500 residential
Sentry Insurance acquired The General from American Family Insurance for $1.7 bn
Sentry Insurance announced its agreement to acquire The General from American Family Insurance for $1.7bn. The deal includes $1.1bn in cash, plus assumed liabilities and required capital
Ukrainian Labor Market Faces Challenges Amid War: Recovery and Persistent Struggles
After overcoming the initial shock and adapting to operating under wartime conditions, Ukrainian businesses are gradually resuming activities
Retirement, Survivors, Disability Insurance. Monthly Social Security Benefits
The Social Security Administration (SSA) will issue double payments averaging $1,394. Here’s what you need to know about these upcoming disbursements
U.S. Social Security to Reduce Work History Period to 5 Years
Social Security administers disability benefits through two programs: the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSI) program
ML insurtech Akur8 acquired Arius, a P&C reserving software
Insurtech Akur8, a machine learning-based insurance pricing solutions, has acquired Arius, a P&C reserving software
Health insurtech Nirvana sequred $24 mn Series A funding
Health insurtech Nirvana, specialising in insurance verification and eligibility with machine learning and artificial intelligence, has sequred $24.2 mn Series A funding
Coalition Re introduces Non-Proportional Cyber Reinsurance
Coalition has set up its reinsurance intermediary, Coalition Re, to offer capacity for non-proportional cyber reinsurance treaties along with a white-labelled cyber insurance
Court splits decision in AIG & RealPage recovery dispute over phishing attack
A Texas court reached a split decision in a dispute between an AIG unit and RealPage over the allocation of recovered funds from a phishing attack
AIG asking a judge to reject a request from Dellwood Insurance to dismiss the lawsuit
Lawyers for American International Group are asking a judge to reject a request from Dellwood Insurance Group to dismiss the lawsuit against the company
CoreLogic estimated Hurricane Francine insured losses to be up to $1.5 bn
CoreLogic estimated Hurricane Francine insured wind and storm surge losses to be up to $1.5 bn. Losses include damage to buildings, contents, and business interruption
Tropical Storm Francine hitting $1 bn insured losses – Gallagher Re
Tropical Storm Francine, hitting Louisiana, may cause over $1 bn in private insured losses, according to Gallagher Re, highlighted that a hurricane’s path significantly impacts
Insured losses from Hurricane Debby increased to $122 mn in Florida
Florida reported $121.5mn in estimated insured losses from Hurricane Debby, with 59.6% of claims closed, according to the Office of Insurance Regulation
American Transit Insurance, New York’s insurer of taxi cabs, is insolvent by $665 mn
The American Transit Insurance Co., New York’s largest insurer of taxi cabs, is insolvent by approximately $665 mn and must consider all options for recapitalization
Moody’s acquired Praedicat, casualty & liability modeling capabilities
Moody’s has acquired of Praedicat, a provider of casualty insurance analytics. This move strengthens Moody’s risk assessment offerings by adding casualty and liability modeling
Connect Underwriting launched BRICS UW, a reinsurance MGA
Connect Underwriting Limited, a specialist reinsurance MGA, has launched BRICS UW, a reinsurance MGA focused on emerging markets, pending regulatory approval
Hungarian insurance market reached €2.2 bn premiums, 5% YoY
Hungarian insurance market experienced about a 5% year-on-year increase in gross written premiums (GWP), reaching €2.2 bn, according to data from MNB
Motor insurers in Poland in H1 2024 generated $2.1 bn premiums
Motor insurers in Poland in the first half of 2024 generated PLN 8.85 bn ($2.1 bn) in premiums, marking a 10.42% increase year-on-year
Hannover Re anticipates reinsurance prices & conditions to remain on a stable level
Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025
Social Security Disability Insurance. What is retirement & disability insurance?
Many people know about Social Security Disability Insurance (SSDI) but are less familiar with retirement, survivors, and disability insurance (RSDI)
Korint Insurtech sequred €5 mn funding led by Ventech
Korint Insurtech, an emerging digital insurance company, secured €5 mn in a funding round led by venture capital firm Ventech, with continued backing from 360 Capital
Demex Group, reinsurance & analytics firm, raised $10.3 mn in Series A
The Demex Group, a firm specializing in stop-loss reinsurance protection and risk analytics, raised $10.25 mn through a Series A and previous SAFE funding round
Insurtech Insurity partnered with Gain Life to improve the claims process
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with Gain Life, a firm focused on improving the claims process
Renewals in 2024 have seen reinsurance pricing gradually decrease
Aon launched its Ultimate Guide to the Reinsurance Renewal – September 2024 report, which contrasts the robust financial results of the reinsurance industry against a backdrop
ICEYE and Aon enhances real-time disaster data for reinsurers
ICEYE, a satellite-based disaster management provider, announced that Aon has expanded its data licensing agreement. Aon will now include ICEYE’s Flood Insights data
Social Security Administration Digitizes or Removes Signature Requirements
The Social Security Administration (SSA) announced steps to reduce the burden on customers by digitizing or eliminating signature requirements for many forms
Fitch Ratings revised Global Reinsurance Sector Outlook to ‘Neutral’
Fitch Ratings has changed its outlook for the global reinsurance sector from “improving” to “neutral,” noting that the pricing cycle has likely peaked
Insurers to increase securitisation activity amid UK matching adjustment reform
Fitch Ratings expect to see more interest and activity in securitised assets from insurers following matching adjustment (MA) reform
Traditional risk management models face pressure due to natural disasters
Traditional risk management models face significant pressure due to unprecedented natural disasters, geopolitical conflicts, and economic instability
InsuranceDekho launches Heph, a SaaS platform for insurance distribution
Indian insurtech insuranceDekho has launched Heph, a SaaS platform designed to streamline insurance distribution
Clear Group acquired non-standard MGA Accelerate Underwriting
Clear Group announced the acquisition of MGA Accelerate Underwriting. This marks Clear Group’s fourth MGA acquisition as it strengthens its underwriting capabilities for brokers
Intermediary Specialist Risk Group (SRG) acquired MGA Capulus
Intermediary Specialist Risk Group (SRG) has acquired Capulus, a Wales-based managing general agent, to enhance its motor fleet capabilities
Lloyd’s of London Results: £4.9bn profit, £30.6bn premium for H1 2024
Lloyd’s of London, a leading global insurance and reinsurance marketplace, reported solid results for the first half of 2024 with a profit before tax of £4.9bn
Major change in the U.S. Supplemental Security Income program
The federal agency announced that starting in December 2024, the SSI application process will move entirely online through the iClaim platform
Federal Deposit Insurance Corp’s proposals will slow investors’ share purchases in banks
The Federal Deposit Insurance Corp. (FDIC) has proposed a rule that may delay investors’ bank share purchases by up to six months, with potential effects on mergers and acquisitions
Real estate AI-startup Placy sequred €1 mn in pre-seed funding
Cypriot real estate AI-startup Placy sequred €1 mn in pre-seed funding led by Zubr Capital, an European Fund regulated by CySEC, focused on investing in high potential IT companies
Social Security is simplify the sign-in experience with authentication standards
Social Security Administration announced that users who set up an online account, such as a my Social Security account must switch to a Login.gov
U.S. life insurance applications increased by 9.3% in 2024 – MIB report
U.S. life insurance applications increased by 9.3% in July 2024 compared to July 2023, and the year-to-date growth stood at 1.7%
Tesla offers state-specific discounts for car insurance policyholders with various limits
Tesla now offers state-specific discounts for car insurance policyholders in the 12 states where Tesla Insurance operates. These discounts aim to lower insurance costs
Insurers faced significant threats of risks during the Paris Olympics
During the Paris 2024 Olympics insurers were on high alert over potential risks that could lead to event cancellations and significant insurance losses
Insured losses from the Jasper Wildfire Complex exceeded $653.4 mn
Insured losses from the Jasper Wildfire Complex have exceeded C$880 mn ($653.4 mn), according to Catastrophe Indices and Quantification Inc
Swiss Re reported a net income of $2.1 bn, ROE of 20% for H1 2024
Swiss Re reported a profit of $996 mn in the second quarter of 2024, resulting in a net income of $2.1 bn and a return on equity (ROE) of 20% for the first half of the year
Vienna Insurance Group’s premiums reached EUR 7.9 bn in H1 2024
Vienna Insurance Group’s robust growth in H1 2024. Gross written premiums increased by 7.9% year-over-year, reaching EUR 7.89 bn in the first half of 2024
Risk management platform CultureAI secured $10 mn in Series A
CultureAI, a human risk management platform, secured $10 mn in Series A funding led by Mercia Ventures and Smedvig Ventures
Australian insurers faced $1.46 bn losses during 2024 catastrophe season
Australian insurers faced losses of A$2.19 bn ($1.46 bn) from four events during the 2023-2024 catastrophe season, according to the ICA
Catastrophe losses amid severe weather events in Canada estimates $809 mn
Intact Financial Corp. reported that recent extreme weather events, including floods in Toronto and Montreal, wildfires in Jasper, and hailstorms in Calgary, estimated $809 mn
Insurers agree to $4 bn settlement for Maui wildfires insurance claims
A global settlement of $4 bn has been tentatively reached to resolve all lawsuits stemming from the Maui wildfires. Insurers cannot independently pursue subrogation claims
Insurers estimate losses from Greece wildfires and European storms
Aon reports that wildfires in Greece and severe convective storms across Europe could result in hundreds of millions of dollars in losses. Beginning August 12, storms in Switzerland and Austria brought heavy rain
Insurers faced $688 mn in losses after storms triggered flash floods in Ontario
Insurance companies faced $688 mn in losses after mid-July storms triggered flash floods in southern Ontario, reported Catastrophe Indices and Quantification
Fintech Jetty migrates to Socotra’s cloud insurtech platform
Insurtech Socotra announced that Jetty, the fintech company on a mission to make renting a home more affordable and accessible, has gone live and migrated Jetty Deposit
Verisk launched a new offshore renewable energy module
Verisk Specialty Business Solutions, a software provider for the re/insurance markets in London and the US, has launched a new offshore renewable energy module
Canadian insurtech YouSet secured $2.6 mn in seed funding
Canadian insurtech startup YouSet has secured $2.57 mn in an oversubscribed seed funding round aimed at improving the insurance shopping experience
Insured losses from CrowdStrike incident exceed $1 bn – Guy Carpenter
Insured losses from the CrowdStrike incident could exceed $1 bn in the cyber insurance market, though the total may be reduced to half since it wasn’t a cyberattack
“Time Is Money”: The White House urged health insurers to implement online claims submissions
The White House has urged health insurers to implement online claims submissions, eliminating the need for paper forms. This request is part of broader efforts
Hurricane Debby caused $90 mn in insured losses in Florida
Hurricane Debby caused $90 mn in insured losses, according to an initial estimate from insurers to the Florida Office of Insurance Regulation
Fitch estimates Winter Storm Fern insured losses at $4-7 bn. Losses hit earnings, not capital, with P&C insurers absorbing most claims and no rating downgrades
The 2025 Atlantic season had no US hurricane landfalls yet delivered Category 5 storms, inland flooding, and losses, highlighting rising intensity and protection gaps
Singapore expands ILS grants as Asia’s cat bond market grows, but investor education, capacity gaps and regulatory momentum still shape the asset class
Hurricane Melissa and Asian floods show insurance’s role in adaptation, yet coverage is scarce. Philanthropy, bundling and aggregation could shift that