MetLife’s net income increased to $800 mn in Q1 2024
MetLife, the largest American life insurance company, reported its earnings for the first quarter of 2024. The company achieved earnings per share of $1.83
News
Munich Re increased insurance revenue to $16 bn for Q1 2024
Munich Re reported an increase in insurance revenue to $16 billion for Q1 2024, attributed to organic growth in its reinsurance business and ERGO International
Insurtech Cover Genius partnered with fintech Adyen
Insurtech Cover Genius has announced a new partnership with Adyen, selecting the FinTech as its latest payment processing partner
QBE Insurance Group’s premium growth in Q1 2024
QBE Insurance Group has raised its premium growth outlook for 2023, based on the global insurer’s performance in the first quarter 2024
WTW and VUSO launched insurance facility for cargo war risks in Ukraine
Re/Insurance broker WTW has unveiled a new facility in partnership with Ukrainian insurance companies VUSO, designed to cover cargo and land warfare risks in Ukraine
Healthcare insurtech Chapter Medicare sequred $50 mn in Series C
Chapter Medicare, a prominent Medicare broker based in New York, recently secured $50 mn in Series C funding to enhance senior healthcare accessibility
Verisk surpasses Q1 2024 expectations: market cap grows to $32 bn
Verisk Analytics, a data analytics and risk assessment firm in the insurance industry, reported strong financial performance in the first quarter of 2024
Insurtech CoverTree raised $13 mn in a Series A funding
CoverTree, an insurtech startup focused on manufactured homes, raised $13 mn in a Series A funding round, bringing its total funding to $23 mn
Climate risk insurtech Arbol sequred of a $60 mn Series B funding
Arbol, a climate risk solutions insurtech, has sequred of a $60 mn Series B funding round co-led by Giant Ventures and Opera Tech Ventures
Insurtech Lemonade released Q1 2024 results: $47.3 mn net loss, $794 mn IFP premium
Insurtech Lemonade has reported a net loss in Q1 2024 of $47.3 million, marking an improvement of 28% on last year’s figure, while its in-force premium (IFP) grew 22%
Agile Syndicate 2427 received ‘Permission to Underwrite’ from Lloyd’s
Agile has received ‘Permission to Underwrite’ from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427)
London-based insurtech Urban Jungle sequred aditional £11 mn funding
London-based insurtech Urban Jungle has announced a new funding round of approximately £11 million. The funding comes from existing investors
Healthcare insurtech FlashAid raised $2.5 mn
FlashAid, a Mumbai-based healthcare and insurtech startup, has recently raised $2.5 million in a pre-Series A funding round
Triple-I forecasts U.S. P&C insurance market growth to increase to 3.4% in 2024
The Insurance Information Institute reports that the economic drivers for the U.S. property and casualty insurance industry are currently expanding
Indian government will sell 10% of GIC Re
The Central government of India may sell up to 10% stake in the state-run reinsurer General Insurance Corporation (GIC Re) in the current financial year
AON launched a new suite of risk analyzer tools for insurance brokers
AON launched a new suite of risk analyzer tools that allow brokers in North America to receive exposure data, quantify loss potential and help risk managers
Insurance Europe: EU must stay on course to deliver Solvency II
Insurance Europe has called on the European Commission to ensure that the forthcoming technical work on Solvency II – the EU’s prudential regime
AI insurtech PeppercornAI raised £3.25 mn
Insurtech PeppercornAI has raised £3.25 mn in funding from prominent backers, including Wealth Club, EHE, and Angels Invest Wales
AON acquired of NFP, a middle market P&C insurance broker
AON, a global professional services firm, has completed the acquisition of NFP, a middle market property and casualty broker, benefits consultant
Insurtech Estaly raised $3.8 mn in seed funding from OneRagtim
Insurtech Estaly has raised $3.8 mn in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors
Marsh acquired Fisher Brown Bottrell Insurance
Marsh McLennan Agency announced that it has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance (FBBINSURANCE)
Pet insurtech Rainwalk announced $4 mn led by ManchestorStory
Pet insurtech Rainwalk Technology, the white-label pet insurance technology provider, announces $4 mn in Seed funding led by ManchestorStory
Insurtech Faura secured $500k pre-seed for reduce natural disaster risk
Insurtech Faura, which uses climate and property analytics to better understand disaster risk, has raised $500k in its first round of funding to help insurance companies
Unwritten sequred $3.5 mn in seed funding led by Connect Ventures
Fintech climate startup Unwritten, previously known as Dovetail Finance, has completed a seed funding round, raising $3.5 mn
Munich Re announced a preliminary net profit of €2.1 bn for Q1 2024
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for Q1 of 2024, as the firm highlights a better than expected operational performance
Property and casualty insurance earnings will improve in 2024
Property and casualty insurance statutory earnings will materially improve in 2024 amid recovery in personal lines results and only modest deterioration in commercial lines
UK life insurers announced 2023 results
UK life insurers’ recently announced 2023 results, which featured strong growth in bulk annuity transactions, reinforce the sector’s improving outlook
PERILS estimated EUR 691 mn insured loss for Babet-Aline Floods & Storms
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has disclosed its third industry loss estimate
Storms and flooding in Asia/UAE causing significant insured losses
Heavy rainfall, storms, and widespread flooding hit Southwestern Asia, notably the United Arab Emirates, in April, causing significant economic and insured losses
Swiss Re launches Life Guide Scout, a Generative AI underwriting assistant
Swiss Re launches an augmented version of its Life & Health underwriting manual Life Guide. The new version comes equipped with Swiss Re Life Guide Scout
Agri-insurtech Pula sequred $20 mn Series B led by BlueOrchard
Kenyan agricultural insurtech Pula has sequred $20 mn Series B funding round, led by BlueOrchard, to help thousands of smallholder farmers
Dawn Miller appointed as CCO of Lloyd’s and CEO of Lloyd’s Americas
Lloyd’s has announced that Dawn Miller has been appointed as Chief Commercial Officer of Lloyd’s and CEO of Lloyd’s Americas
Insurtech FloodFlash launched a business interruption insurance
FloodFlash, a parametric insurance technology company, is launching a new product aimed at bolstering business interruption (BI) insurence coverage
Cyber insurtech Coalition announced Microsoft, Google and AWS integrations
Cyber insurtech Coalition announced new integrations between Coalition Control, its cyber risk management platform, and cloud services providers
Amazon closed its Insurance Store initiative in the UK
Amazon has closed its Amazon Insurance Store initiative. The platform, which was introduced in October 2022 to facilitate the purchase of home insurance in the UK
ICEYE secured $93 mn for satellite-powered disaster solutions
ICEYE, a satellite-powered disaster management solutions, has finalised a definitive agreement for an oversubscribed $93 mn growth funding round
Insurtech Qoala sequred $47 mn funding, led by PayPal Ventures
Qoala, a Indonesian insurance startup, has sequred $47 mn in a funding round, co-led by renowned investors PayPal Ventures and MassMutual Ventures
Manulife Investment unveiled its first fund dedicated to secondary deals
Manulife Investment Management has unveiled its first fund dedicated to GP-led secondary deals
AXA Investment Managers acquires W Capital Partners
AXA Investment Managers has agreed to acquire W Capital Partners, a New York-based private equity firm specializing in GP-led and direct secondaries transactions
Blue Owl Capital acquires Kuvare Asset Management, a insurers’ invest manager
Blue Owl Capital will spend $750 mn to acquire Kuvare Asset Management, a boutique investment management firm that services the insurance industry
Israeli startup Hailo extended its Series C with $120 mn for running generative AI
Israeli startup Hailo has extended its Series C with $120 mn to develop specialized chips for running generative AI tasks locally
Swiss Re’s shareholders approved all motions by the Board of Directors
Swiss Re’s shareholders approved all motions put forward by the Board of Directors at today’s Annual General Meeting (AGM)
M2 Recovery launched a legal expenses insurance for crypto assets
M2 Recovery has launched a groundbreaking insurance policy, marking the world’s first initiative to cover legal expenses associated with reclaiming stolen crypto assets
Australian insurtech Honey Insurance raised $108 mn in Series A
Australian insurtech startup Honey Insurance, has raised US$108 mn in its Series A funding round, attracting significant interest from investors in the U.S.
Insurtech platform Novidea sequred an additional $30 mn funding
Insurtech Novidea raised an additional $30 mn funding from HarbourVest Partners. The investment brings total Series C funding round to $80 mn
MetLife Pet Insurance partnered with Association of Animal Welfare Advancement
MetLife Pet Insurance has partnered with the Association of Animal Welfare Advancement to enhance support for pet owners in managing the care
European insurtech Laka annonced investment from Achmea
Insurtech Laka, founded in London in 2017, has annonced investment led by Achmea Innovation Fund as part of its strategic move
Health insurtech CareVoice secured $10 mn funding in Series B
Insurtech CareVoice has secured $10 mn funding in Series B led by Apis Insurtech Fund I. The funding will be used to accelerate the Company’s growt
Insurtech mTek raised $1.25 mn to boost expansion in African markets
Kenyan Insurtech mTek has sequred $1.25 mn in funding to boost its expansion efforts within the Kenyan and East African insurance markets
Sertis, a MGA specialising in property owner coverage, sequred $3.2 mn
Sertis, a Managing General Agent (MGA) specialising in property owner coverage, has sequred $3.2 mn in a funding round.
Insurtech Lemonade launched of homeowners insurance in France
Insurtech Lemonade announced the launch of Homeowners insurance in France in partnership with BNP Paribas Cardif
Insurtech Element secured €50 mn from Versorgungswerk der Zahnärztekammer
German insurtech startup Element has secured €50 million in funding from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi
Monad Labs, blockchain startup, sequred $225 mn Series A
Monad Labs, an ethereum blockchain developer, has closed a $225 mn Series A, the largest deal the sector has seen in over seven months
Stanhope sequred £2.3 mn to developing of ‘human-like’ AI
The neuroscience-driven AI startup Stanhope has sequred £2.3 mn in funding to enhance the development of ‘human-like’ AI
Healthtech Recare raised €3.2 mn for expansion in Germany
Recare has developed a SaaS platform that acts as a neutral marketplace, allowing hospitals to find care providers for their patients with aftercare needs
Luminance raised $40 mn in Series B funding to use of large language models
Luminance has raised $40 mn in Series B funding to further its use of large language models (LLMs) which are predicted to automate significant portions of work
Lexverify secured £900K in Seed funding to enhance AI-driven risk managemen
UK-based startup Lexverify secured £900K in Seed funding to enhance its AI-driven risk management assistant
HR software app Homebase sequred $60 mn Series D
Homebase is HR software that targets the two-thirds of the American SMB workforce with hourly jobs that require them to be on-site
Fintech Scayl, founded by ex-VC executives, raised €100 mn
Scayl, a debt financing platform founded by ex-VC, announced its emergence from stealth having raised €100 mn
Lloyd’s Consortium Brit launched a cyber insurance – Brit Cyber First50
Brit has launched a groundbreaking initiative in the cyber insurance realm with the launch of Brit Cyber First50, a Lloyd’s Consortium
Discover how a secondary reinsurance market could improve capital efficiency, lower WACC, boost underwriting flexibility and support more efficient pricing
Global reinsurance pricing fell more than expected at Jan. 1, 2026 renewals, with abundant capital, weak catastrophe support, and easing terms
Reinsurance rates in several lines softened quicker than anyone expected this year, especially in casualty and cyber, yet trading conditions across the Lloyd’s market still look reasonably favorable
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035