French insurers’ ratings unchanged despite France’s revised negative outlook
The ratings of French insurers are unaffected by the recent revision of the Outlook on France to Negative, Fitch Ratings says, with the exception of CNP Assurances SA
News
Underwriting platform Inspectify secured $5.3 mn funding led by Munich Re
Inspectify, a property inspection and underwriting insurtech platform, has secured $5.26 mn in funding, led by Munich Re Ventures
Social Security benefits payments for 72.5 mn Americans will increase 2.5% in 2025
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 mn Americans will increase 2.5% in 2025
Prudential Hong Kong launched of digital underwriting tool MedScreen+
Prudential Hong Kong has advanced the insurance industry with the launch of MedScreen+, a digital underwriting tool created in partnership with RGA
MetLife with insurtech YuLife launched a Group Income Protection in the UK
MetLife UK has teamed up with YuLife to launch a new Group Income Protection plan aimed at addressing the rising challenge of workplace absenteeism in the UK
Tokio Marine Kiln named Alexandros Ampatzis as Head of Marine for APAC
Tokio Marine Kiln (TMK) has named Alexandros Ampatzis as Head of Marine for the Asia-Pacific (APAC) region, effective November 1, 2024
Insurtech Branch raised $51 mn funding led by American Family
Insurtech Branch has raised $51 mn in a new funding round led by American Family Ventures. This investment supports Branch’s growth strategy
Insurtech Aurora raised £2.5 mn in seed funding from QBE Ventures
Insurtech Aurora, a digital commercial insurance platform, has raised seed funding from QBE Ventures, the investment arm of QBE Insurance Group
Lloyd’s of London introduces a Global Disaster Resilience Vehicle
Lloyd’s of London has partnered with the United Nations Capital Development Fund (UNCDF) to introduce a new disaster resilience vehicle
AI-driven insurtech COVU raised $12.5 mn in Series A funding
AI-driven insurtech COVU has raised $12.5 mn through equity and debt financing in its first Series A funding round led by Benhamou Global Ventures (BGV)
AI insurtech Stream Claims sequred $5.3 mn in seed funding
Insurtech startup Stream Claims, specializing in AI-powered medical document review for workers’ compensation, sequred $5.3 mn in seed funding
Insurtech Qantev raised €30 mn funding led by Blossom Capital
AI-powered claims management insurtech for health and life insurers Qantev has raised €30 mn in new funding led by Blossom Capital
Insurtech Herald secured $12 mn in Series A funding
Insurtech Herald has secured $12 mn in Series A funding co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with participation from Afore Capital and Underscore Venture Capital
Florida’s Office of Insurance Regulation reported $2.3 bn Hurricane Milton insured losses
Florida’s Office of Insurance Regulation (OIR) reported $2.34 bn in insured losses from Hurricane Milton, with 189,858 claims filed and 8.4% closed
Agentech, AI workforce solution for insurance claims, raised $3 mn
Agentech, an AI-powered workforce solution for insurance claims, raised $3 mn in seed funding in just 30 days. This funding will support their expansion into Property & Casualty
HRCE launches inquiry into Australian insurers’ responses to flood claims
The Insurance Council of Australia (ICA) welcomed the House of Representatives Standing Committee on Economics’ report regarding insurers’ responses to claims from major floods
Moody’s estimates insurance losses from Hurricane Milton between $22-36 bn
Moody’s RMS Event Response estimates private insurance losses from Hurricane Milton to range between $22 bn and $36 bn
CoreLogic estimates Hurricane Milton insured losses up to $28 bn
CoreLogic released its initial wind and flood loss estimates for Hurricane Milton. The company projects insured wind and flood losses to range from $17 bn to $28 bn
Blue Cross Blue Shield agrees to $2.8 bn settlement in health care antitrust case
Blue Cross and Blue Shield (BCBS) has agreed to a $2.8 bn settlement as part of a long-standing antitrust class action filed by health care providers
U.S. Federal Court halves $185 mn legal fee in ACA risk corridor settlement
The U.S. Court of Federal Claims has cut in half the $185 mn legal fee sought by Quinn Emanuel Urquhart & Sullivan LLP from a $3.7 bn class action settlement over the government’s failure
FCA launches market study on premium finance and rising insurance costs
The UK FCA has initiated a market study focused on premium financing for motor and home insurance, aiming to determine if consumers are receiving competitive
Verisk estimated $30-50 bn insured property losses from Hurricane Milton
Verisk has estimated insured onshore property losses from Hurricane Milton between $30 bn and $50 bn. These estimates come from Verisk’s Extreme Event Solutions
HCI estimates insured losses up to $750 mn from Hurricanes Debby, Helene, Milton
HCI Group estimates insured losses between $600 mn and $750 mn due to hurricanes Debby, Helene, and Milton
Ardonagh Group completes acquisition of PSC Insurance, expanding APAC & UK platforms
The Ardonagh Group, a major independent insurance broking platform, has completed the acquisition of PSC Insurance Group Limited
Munich Re Specialty expands into Spanish insurance market with 2025 launch
Munich Re Specialty has initiated steps to enter the Spanish commercial market for primary specialty insurance, aiming to start underwriting in 2025
U.S. Supreme Court seeks opinion on Oklahoma’s PBM law appeal
The U.S. Supreme Court requested the opinion of the Office of the Solicitor General on Oklahoma’s appeal regarding a Tenth Circuit Court ruling
MGA Coterie Insurance announced its entry into the cyber insurance market
Coterie Insurance, a managing general agent (MGA) focused on simplifying small business insurance, announced its entry into the cyber insurance segment
UNIQA Insurance Group sold of the Russian insurer Raiffeisen Life
UNIQA Insurance Group has completed the sale of its Moscow-based subsidiary, Raiffeisen Life, to the Russian company Renaissance Life
GrovesJohnWestrup Private Clients ends new and renewal operations
GrovesJohnWestrup Private Clients, a managing general agent (MGA) under Munich Reinsurance Co., has ceased new and renewal business operations
Florida faces record flooding: Hurricane Milton threatens billions in insured losses
Florida faces its second major hurricane, with predictions of record-breaking storm surges and flooding. Private flood insurance premiums in the state
U.S insurers challenge subrogation ban in $4bn Maui Wildfire settlement
U.S. insurance companies has filed a request with the U.S. district court in Hawaii to allow them to subrogate losses related to the Maui wildfires
Morningstar DBRS estimates Hurricane Milton insured losses exceeding $100 bn
Morningstar DBRS estimates Hurricane Milton insured losses could reach $60 bn, with $10 bn linked to flooding
Insurance industry in Cyprus continued its growth in 2024
The insurance industry in Cyprus continued its growth in the first half of 2024, with total gross written premiums (GWP) reaching €631.8mn, marking a 7.8% year-on-year (y-o-y) increase
Top risks for UK businesses in 2024: Economic, Cyber, Workforce Challenges
Marsh McLennan highlights the primary concerns for UK businesses over the next year. The TOP-3 issues identified are economic and financial challenges (43%), cyber threats (39%), and people-related risks (38%)
Africa Specialty Risks expands Lloyd’s reinsurance market access for Africa
Africa Specialty Risks (ASR) announced that its United Kingdom-based unit, Africa Specialty Risks Ltd., now operates as a Lloyd’s service company
Archdiocese of New York sues Chubb over denial of sexual abuse claims
Archdiocese of New York has filed a lawsuit against Chubb, accusing the insurer of violating state business laws by improperly denying sexual abuse insurance claims
Storm Boris flooding leads to €2-3 bn in insured losses across Europe
Insurers faced losses of €2 bn to €3 bn from flooding after Storm Boris hit Austria, Poland, and the Czech Republic last month, according to estimates from Verisk
U.S. Insurers Face Second Year of Declining Private Equity Income
U.S. insurers saw a second consecutive year of declining income from private equity investments in 2023, with earnings dropping to $7.7 bn, compared to $10.2 bn in 2022
Insurtech Hippo appointed William Malone as Vice President & Head of Agency
Home insurtech Hippo has appointed William Malone as Vice President and Head of Agency. Malone, with 25 years of industry experience, will oversee sales, account management
Hurricane Helene caused insured losses estimated at $6.4-15 bn
Hurricane Helene has caused insured losses estimated at around $6.4 bn, according to catastrophe risk modeling specialist Karen Clark & Company (KCC)
JMG Group acquired of Confidential Solutions Group
JMG Group has acquired its 40th business with the purchase of London-based Confidential Solutions Group. This acquisition includes a managing general agent
XN Worldwide Insurance adopts CoverGo for international mobility solutions
XN Worldwide Insurance, a MGA specialized in international mobility in Canada and part of the France-based Henner Group, adopted CoverGo
Tokio Marine Kiln and Marsh launch $50mn insurance facility for ports & terminals
Tokio Marine Kiln and broker Marsh introduced an insurance facility offering up to $50 mn in coverage for ports and terminals facing business interruption due to trade
Insurance Council of New Zealand urges government to strengthen Resource Management Act
The Insurance Council of New Zealand (ICNZ) is urging the government to ensure that changes to the Resource Management Act (RMA) will protect communities
Governor Gavin Newsom vetoes pay raise for CDI’s insurance fraud investigators
Governor Gavin Newsom vetoed a bill that aimed to raise the pay for insurance fraud investigators at the California Department of Insurance (CDI)
Hurricane Helene: Florida P&C insurers processed 48,341 claims, totaling $508 mn
Florida property & casualty insurers had processed 48,341 claims, totaling $507.5 mn in estimated losses, according to the Florida Office of Insurance Regulation
Marsh McLennan acquires McGriff Insurance Services for $7.75 bn
Marsh McLennan (MMC) announced plans to acquire McGriff Insurance Services for $7.75 bn. This move aims to expand MMC’s U.S. commercial and personal lines broking operations
Super Typhoon Yagi caused insured losses, estimated at $500 mn in China
Super Typhoon Yagi has caused substantial insured losses, estimated at 3.5 bn yuan ($500 mn) in China, according to Guy Carpenter, a reinsurance broker.
Cyber threats as the top concern for businesses – Travelers Risk Index
Cyber threats as the top concern for businesses. This marks the fourth time in six years that cyber risks have taken the lead. according to 2024 Travelers Risk Index
Global marine insurance premium reached $39 bn, a 6% increase
The global marine insurance premium base reached $39bn, a 6% increase from the previous year. Growth occurred across all sectors. Cargo insurance premiums rose
MGA Optio Group acquires Luxembourg-based Circles Group, expanding European presence
Optio Group, a specialty managing general agent (MGA), has acquired Circles Group, a Luxembourg-based MGA, for an undisclosed sum. The transaction is pending regulatory approval
Adaptive Insurance launched GridProtect, climate risks protect product
Adaptive Insurance, a new parametric insurtech platform powered by AI, has launched with the goal of transforming how businesses protect against climate risks
New conditions for buyers in the US commercial insurance market
The Lockton Market report highlights favourable conditions for buyers in the US commercial insurance market across most lines of coverage. However, uncertainty surrounding both the economy
Ondo Insurtech partnered with NFU Mutual to introduce LeakBot
Ondo Insurtech has partnered with the National Farmers Union Mutual Insurance Society Limited (NFU Mutual) to introduce its LeakBot technology to the insurer’s customers
Insurtech Optalitix sequred $3 mn funding round led by Calculus Capital
London-based insurtech Optalitix, a software provider for insurance and finance, secured a $3 mn follow-on funding round led by Calculus Capital, with participation from 24 Haymarket and others
Insurtech Akur8 sequred $120 mn in Series C funding
French insurtech Akur8 has sequred $120 mn in Series C funding, bringing its total investment to $180 mn and its valuation to $400mn, led by One Peak with Partners Group and Guidewire Software
Munich Re North America Life introduced a longevity reinsurance for the US and Canada
Munich Re North America Life, a subsidiary of Munich Re, has introduced a longevity reinsurance solution for the US and Canada. This product helps clients transfer biometric risk while building assets
Cysurance partnered with 360 SOC, a cyber provider of response services
Cysurance, a firm focused on risk mitigation and certifying security solutions, has partnered with 360 SOC, a provider of managed detection and response services
Insurtech Koltin sequred $7.3 mn in Series A funding
Koltin, a Mexican insurtech focusing on private health insurance for seniors, secured $7.3mn in Series A funding. Left Lane Capital led the round, with its Vice President, Rachel Schow, joining Koltin’s board of directors
Insurtech Onsurity raised an additional $21 mn in Series B
Onsurity, an insurtech startup focused on SMEs, raised an additional $21mn in its Series B round, bringing the total to $45mn. Private equity firm Creaegis led the funding
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