Hanwha Life Insurance acquires the parent company of Velocity Clearing
Hanwha Life Insurance plans to acquire a 75% stake in the parent company of Velocity Clearing. This move provides the South Korean life insurer with a foothold in the U.S.
News
Insurance fraud ringleader, William Oldham Mize, sentenced to 12Y in Federal Prison
A former fugitive, who led a large-scale insurance fraud scheme, received a 144-month prison sentence and was ordered to pay over $7.09 mn in restitution to insurance carriers and the IRS
Aviva acquires U.K. P&C insurer Direct Line Insurance for £3.51 bn
Aviva has reached a preliminary deal to acquire U.K. property and casualty insurer Direct Line Insurance Group plc for £3.51 bn.
U.S. insurance industry adds 5,100 Jobs – U.S. Labor Department’s BLS
The U.S. insurance industry added 5,100 jobs in November compared to October, according to preliminary data from the U.S. Labor Department’s Bureau of Labor Statistics
Gallagher will acquire AssuredPartners Inc. for $13.45 bn
Arthur J. Gallagher & Co. (AJG) will acquire AssuredPartners Inc. for $13.45 bn. The deal strengthens AJG’s presence in the U.S. middle market and leverages AssuredPartners’ active mergers and acquisitions
K2 International opens Lloyd’s of London Box, showcasing key underwriting divisions
K2 Group Holdings Limited (K2 International), a division of K2 Insurance Services, has officially opened its box at Lloyd’s of London. The move strengthens its presence
Maryland laid out regulations and new requirements for pet insurance companies
The Maryland Insurance Administration has issued regulations for pet insurance companies, outlining new disclosure and notification requirements
Insurtech ISUR launches SaaS Insurance Solutions Platform
Insurtech ISUR has launched its advanced SaaS Insurance Solutions platform, promising to reshape the way insurers manage their operations
Lamarr:AI secured $1.1 mn in pre-seed funding led by Hazelview Ventures
Lamarr:AI, a startup founded through research collaboration at MIT, Georgia Tech, and Syracuse University, has secured $1.1 mn in pre-seed funding
Rival Insurance Technology achieves CSIO eDocs Certification, enhancing broker efficiency
CSIO has announced that Rival Insurance Technology (Rival) has achieved eDocs Certification. This recognition confirms that Rival has successfully implemented all 40 updated eDocs codes
Rising costs and natural disasters pressure home insurance in Canada
Home insurance costs in Canada are climbing due to frequent and severe natural disasters. Rising construction expenses add to affordability challenges
Insurtech Neutrinos launched marketplace to accelerate automation in insurance
Neutrinos, a technology company specializing in intelligent automation, has introduced the Neutrinos Marketplace to accelerate automation within the insurance value chain
WEX launches GenAI benefits agent and AI analytics to support HR workloads
WEX, a global commerce platform simplifying business operations, has partnered with select employers to pilot two new AI-driven features within its benefits administration platform
Equisoft announced a new partnership with life insurtech Emma
Equisoft, a provider of insurance and wealth management solutions, announced a new partnership with Emma, a platform focused on making life insurance simple, affordable, and accessible
Insurtech CoverGo launched CoverGo Claims
Insurtech CoverGo, a global no-code AI insurance platform for health, life, and P&C, has introduced CoverGo Claims. This AI-powered platform offers a full solution for health insurers
Allianz and Uber launched a product for UK Uber drivers, developed insurtech Indeez
Allianz Partners and Uber have launched a new income protection product for UK Uber drivers, developed with insurtech Indeez
Insurtech CyberCube has expanded its partnership with HUB International
Insurtech CyberCube has expanded its partnership with HUB International, a leading insurance broker and financial services firm
Westland Insurance acquired of MSP Insurance, expanding operations in Ontario
Westland Insurance has expanded its operations in Ontario with the acquisition of MSP Insurance Corp., also known as Mitchell Sandham Pastor Insurance Brokers
Liberty Global Transaction Solutions released its annual M&A claims briefing
Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has released its fifth annual M&A claims briefing. The 2024 report analyzes insurance claims
Gallagher acquired Dawson & Keenan Insurance, a retail insurance brokerage in Ontario
Arthur J. Gallagher & Co. has acquired Dawson & Keenan Insurance, a retail insurance brokerage in Sault Ste. Marie, Ontario. The financial details of the deal were not disclosed
McDougall Insurance acquired Cornell Insurance Brokers, based in Markham
McDougall Insurance Brokers Limited (McDougall Insurance) has acquired Cornell Insurance Brokers Ltd., a brokerage based in Markham
Insurers faced $51 bn in losses from hurricanes and cyclones in 2024
Insurers faced $51 bn in losses from North American hurricanes and Northwest Pacific cyclones in 2024, surpassing the 10-year average
(Re)insurance MGA Rokstone acquired a second box 398a at Lloyd’s
International specialty (re)insurance MGA Rokstone, part of the Aventum Group, has acquired a second box at Lloyd’s, six months after securing its first
Workers’ compensation rates in Washington will rise by 3.8% in 2025
Workers’ compensation rates in Washington will rise by 3.8% in 2025, as reported by the Washington State Department of Labor and Industries
Allianz Australia purchases RAA’s general insurance business and securing
Allianz Australia has partnered with the Royal Automobile Association of South Australia (RAA) in a deal valued at AUD$642.2 mn
Abacus Life completes $2 bn acquisition of Carlisle Management Company
Abacus Life, a global alternative asset manager specializing in longevity data and actuarial technology, has completed its acquisition of Carlisle Management Company S.C.A. Carlisle
Florida insurers have paid $5.2 bn in the wake of hurricanes Helene and Milton
Florida insurers have paid approximately $5.2 bn following hurricanes Helene and Milton, according to data from the Florida Office of Insurance Regulation
Bermuda Monetary Authority issued licenses to 10 captive insurers
The Bermuda Monetary Authority (BMA) issued licenses to 10 captive insurers in 2024, further solidifying Bermuda’s position as a leading domicile for these structures
New York passes law standardizing hurricane windstorm definitions and deductibles
New York has enacted a law to standardize definitions for hurricane windstorms, aiming to create consistency in deductibles and how triggering events are determined
Swiss Re reported $2.2 bn in net income and a 13.4% ROE for 9M 2024
Swiss Re reported $2.2 bn in net income and a 13.4% return on equity (ROE) for the first nine months of 2024. Resilient underwriting and investment contributions across
UnitedHealthcare Insurance Company CEO Brian Thompson fatally shot in New York City
In New York City, on Manhattan, the CEO of UnitedHealthcare, a leading American health insurance company, was fatally shot. Brian Thompson sustained a fatal gunshot
Drayden Insurance acquired Norwest Insurance Agencies in Alberta
Drayden Insurance, a subsidiary of McDougall Insurance Brokers, has acquired Norwest Insurance Agencies, continuing its expansion in Alberta
Navacord’s Jones DesLauriers partners with Vita Assure to expand in Quebec
Jones DesLauriers Consulting, the benefits consulting division of Jones DesLauriers Insurance and a Navacord broker, has partnered with Vita Assure, a Quebec-based firm
Insurtech startup Amenli secured $2.3 mn in funding
Cairo-based insurtech startup Amenli has secured $2.3 mn in funding to support its expansion and enhance its offerings. The round was led by the European Bank for Reconstruction
Aon acquires the insurance agency of Mitsubishi Chemical Group in Japan
Aon announced a definitive agreement to acquire the in-house insurance agency of Mitsubishi Chemical Group (MCG). The move expands Aon’s risk and health offerings in Japan
FEMA projects flood insurance claim losses from Hurricane Helene to range $3.5-7 bn
The National Flood Insurance Program (NFIP), managed by FEMA, has paid over $1.4 bn to policyholders for flood losses caused by Hurricane Helene
Near Space Labs launched stratospheric robots across the U.S.
Near Space Labs, a provider of aerial imagery for insurance and other applications, has launched stratospheric robots across the United States
Richard Offord appointed as Chief Executive of UK P&I Club’s Singapore Branch
UK P&I Club, a global provider of protection and indemnity insurance for the shipping industry, has appointed Richard Offord as Chief Executive of its Singapore
Commercial broker Konsileo raised £8 mn to accelerate its growth across the UK
Chartered commercial broker Konsileo has raised £8 mn to accelerate its growth across the UK. The company specializes in mid-market insurance solutions
Insurtech Bolttech sequred a $50 mn venture debt facility with HSBC
Global insurtech Bolttech has sequred a $50 mn venture debt facility with HSBC. Bolttech aims to use this funding to further its ambitious plans for innovation and growth in the insurtech sector
Alberta launched no-fault auto insurance system with savings for drivers
Alberta is launching a no-fault automobile insurance system designed to be privately delivered and care-focused. The province estimates the change will save the average driver C$400 annually
Oak Re announced that Lloyd’s Syndicate 2843 received approval
Oak Reinsurance announced that Lloyd’s Syndicate 2843 has received approval to begin writing business, launched in partnership with capital providers Bain Capital
AI-insurtech Federato raised $40 mn Series C funding led by StepStone Group
Insurtech Federato, AI-powered insurance underwriting platform, has raised a $40 mn Series C funding round, led by StepStone Group
Vienna Insurance Group reports robust 9M 2024 financial performance
Vienna Insurance Group (VIG) released its 9M 2024 results, showcasing continued growth across key metrics despite challenges from natural catastrophe (NatCat) events
Bishop Street Underwriters plans to acquire Landmark Underwriting, a London Market MGA
Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, announced its plans to acquire Landmark Underwriting, a specialty MGA in the London Insurance
Insurtech Akur8 partners with American Association of Insurance Services
Akur8, a insurtech provider of advanced insurance pricing and reserving solutions using transparent ML technology, announced a strategic collaboration with the American Association of Insurance Services
API-first insurtech Root launched Certified Developer Community program
Insurtech Root, a low-code, introduced its Certified Developer Community program. This initiative is designed to upskill in-house developers
Canada Life Reinsurance achieved earnings of $210 mn in Q3 2024
Canada Life Reinsurance, specializing in life and health reinsurance, achieved earnings of $210 mn in earnings in Q3 2024, following 14% base earnings growth in H1 2024
RGA will reinsure $4 bn of John Hancock’s legacy blocks
Reinsurance Group of America (RGA) announced it will reinsure about $4 bn of John Hancock’s legacy blocks, a subsidiary of Manulife Financial Corp
P&C insurance in the UK: quarterly breakdown & rising costs
Property and casualty insurers in the UK paid £4.1 bn in insurance claims during the first nine months of 2024, marking a record for that period
Syndicate Helios Underwriting expects the capacity value of its fund to decrease
Lloyd’s Syndicate Helios Underwriting projects a decline in the capacity value of its fund by year-end 2024, despite an increase in tangible net asset value
North Carolina State Treasurer demands Blue Cross pay $2 mn for TPA lawsuit
Blue Cross Blue Shield of North Carolina owes the state’s residents more than $2.05 mn from the carriers failed lawsuit over the North Carolina State Health Plan
Insured losses surpassed C$110 mn following severe storms & flooding in Canada
Insured losses have surpassed C$110 mn following severe storms and flooding in southern British Columbia, as reported by Catastrophe Indices and Quantification
P&C insurance premiums lose momentum in Q3 2024, 28th straight quarter of growth
Premiums in the commercial property and casualty (P&C) insurance market rose 5.1% in Q3 2024, nearly matching the 5.2% increase in Q2, based on The Council of Insurance Agents
Massachusetts Division of Insurance approved Point32Health’s acquisition of Health New England
The Massachusetts Division of Insurance has approved Point32Health’s acquisition of Health New England and its subsidiaries, HNE Holding and HNE Insurance
Insurtech Foxquilt launched digital insurance products in New York
Insurtech Foxquilt, digital MGA specializing in embedded insurance technology for small businesses, has launched of its digital insurance products in New York
Sompo tests blockchain for automatic claims processing on MaaS train delay insurance
Sompo Japan Insurance announced it is testing blockchain technology for automating claims on its Mobility-as-a-Service (MaaS) train delay insurance
Mountain Fire in Ventura County (California): economic losses ~$100 mn
The Mountain Fire that broke out on November in Ventura County, Southern California, is projected to result in significant insured losses
New partnership: Argyle and Mitsui Sumitomo enhance SME insurance in Australia
Argyle Insurance has entered into a multi-year capacity agreement with Mitsui Sumitomo Insurance Co. (MSI), a member of MS&AD Insurance Group
Insurtech Duck Creek expands global support with Center of Excellence in Poland
Insurtech Duck Creek Technologies announced the opening of its second Center of Excellence (CoE) in Warsaw, Poland
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
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y