Howden acquired a 68.3% majority stake in Holos insurance broker
Howden, the global insurance and reinsurance broking group, acquired a 68.3% majority stake in Holos Holdings, a Kyoto-based retail insurance broker founded in 2001 by Kei Horii
News
Zurich acquired cyber insurtech BOXX Insurance
Zurich Insurance Group announced its acquisition of BOXX Insurance Inc., a Toronto-based cyber insurance and risk management insurtech
Bupa faces Federal Court over misleading conduct, agrees to A$35 mn penalty
The Australian Competition and Consumer Commission (ACCC) filed proceedings in Australia’s Federal Court against insurer Bupa
Ergo completed $2.6 bn acquisition of the NEXT Insurance remaining share
Munich Re’s Ergo primary insurance group completed its $2.6 bn acquisition of the remaining share capital of insurtech NEXT Insurance
Enstar closed $5.1 bn acquisition by affiliates of Sixth Street
Enstar Group announced the closing of its $5.1 bn acquisition by investment vehicles managed by affiliates of Sixth Street
CatIQ estimated insurance losses from the Ontario & Quebec ice storm at C$416 mn
CatIQ estimated insurance industry losses from the ice storm that struck Ontario and Quebec between March 28 and 31 at CAD $416 mn
Insurance Australia Group estimated natural perils costs at A$1.1 bn
Insurance Australia Group Ltd. raised its fiscal-year 2025 guidance as estimated natural perils costs are projected at A$1.08 bn
Chariot Re would improve MetLife’s capital flexibility and allow growth
MetLife and General Atlantic announced in December the creation of Chariot Re, a Bermuda-based reinsurer that initially reinsures approximately $10 bn of annuities
Ryan Specialty acquired J.M. Wilson , a Michigan-based MGA offering personal lines
Ryan Specialty Holdings has completed its acquisition of J.M. Wilson Corp., a Michigan-based specialist managing general agent offering personal lines
Insurtech ZestyAI secured $15 mn credit facility from CIBC Innovation
ZestyAI, a provider of AI-based risk analytics for the property and casualty insurance industry, has secured a $15 mn credit facility from CIBC Innovation Banking
UK insurtech COVR raised $2.5 mn in seed funding
COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine
Fintech Conquest Planning secured $80 mn in a Series B led by Goldman Sachs
Conquest Planning, a financial planning software company, has secured $80 mn in a Series B funding round led by Goldman Sachs Alternatives
E&S insurtech Ledgebrook raised $65 mn in a Series C
Ledgebrook, an excess and surplus (E&S) insurtech startup, has raised $65 mn in a Series C funding round led by The Stephens Group
Insured losses from Mexico’s Hurricane Erick are expected to remain limited
Insured losses from Hurricane Erick, which made landfall last week in southern Mexico, are expected to remain limited
Lloyd’s welcoms removal of Section 899 from the U.S. reconciliation bill
Lloyd’s Chair, Sir Charles Roxburgh, issued a statement welcoming the removal of Section 899 from the reconciliation bill by the U.S. Treasury and Congress
MetLife expanded partnership with insurtech Sprout AI to accelerate claims automation
MetLife has expanded its partnership with insurance automation provider Sprout:ai to accelerate claims automation and improve customer experience
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
U.S. P&C insurance sector rebounded in 2024, driven by a $31 bn improvement
AM Best reported that the U.S. property and casualty (P&C) insurance sector rebounded in 2024, driven by a $31 bn improvement in the personal auto line
Aon launched Aon Broker Copilot, a proprietary AI platform
Aon announced the launch of Aon Broker Copilot, a proprietary, patent-pending platform that uses artificial intelligence, large-language models and predictive analytics
Clearspeed raised $60 mn in Series D to expand its AI-driven voice analytics
Insurtech Clearspeed has raised $60 mn in Series D funding to expand its AI-driven voice analytics technology for risk assessment across the insurance and national security sectors
Insurance Europe supports the EC’s plan to simplify cybersecurity regulations
Insurance Europe supports the European Commission’s plan to simplify cybersecurity regulations through its review of the Cybersecurity Act
Safe Auto Insurance and policyholder sued for ignoring $25K offer, causing $5 mn loss
Safe Auto Insurance Co. and its policyholder, Jaime Valdez, filed a lawsuit against the law firm Lewis Brisbois Bisgaard and Smith LLP for failing to act on a $25,000 settlement offer
Middle East conflict lifts marine insurance war risk rates
The ongoing conflict in the Middle East has prompted many marine insurance underwriters to withdraw coverage for vessels with perceived links to the U.S., U.K., or Israel
U.S. insurers paid $1 bn in lightning-related homeowners insurance claims
In 2024, U.S. insurers paid $1.04bn in lightning-related homeowners insurance claims, marking a 16.5% decline from $1.24bn in 2023
Insurtech Testudo launched a technology and data platform for underwriting
Testudo, a start-up supported by Lloyd’s of London through its innovation accelerator Lloyd’s Lab, has launched a technology and data platform for underwriting
Slide Insurance prices $408 mn IPO, shares to trade on Nasdaq under ticker ‘SLDE’
Slide Insurance has announced the pricing of its upsized initial public offering at $17.00 per share for 24,000,000 shares of common stock
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
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
US 30-year mortgage rates reached 7.55% as refinancing and purchase applications declined, raising monthly costs and pushing more borrowers toward ARMs
Google and CoverGo examine how Agentic AI could reshape insurance operations, underwriting, data architecture, governance and human oversight
Mastiffs top the list of the most expensive dog breeds for pet insurance, with annual premiums averaging $2,546, according to Insurify data
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