Global insured losses could exceed $300 bn in a peak year – Swiss Re
Swiss Re warned that insured losses could exceed $300bn in a peak year, underscoring the essential role of the reinsurance sector, which holds $500bn in capital
News
Verisk launched a catastrophe model designed to assess the SRCC in the U.S
Verisk, a data analytics and technology firm, has introduced a catastrophe model designed to assess the financial impact of strikes, riots, and civil commotion (SRCC) in the U.S
Home insurtech Kin exceeded $100 bn in total insured property value
Digital home insurance provider Kin has exceeded $100bn in total insured property value (TIV), marking a significant milestone in its expansion and profitability
Likewize acquired Speedperform, a company specializing in AI customer support
Likewize, a global provider of device protection, repair services, and technical support, has acquired Speedperform, a company specializing in AI-based customer support
Sapiens acquires AdvantageGo for £43 mn to expand global P&C platform in the UK
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
AI-insurtech Earnix acquired Zelros, a GenAI startup for insurers
Dynamic AI platform for insurance Earnix has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks
U.S. workplace insurance and annuity sales rise in 2025, setting multiple records
Workplace life, disability, and supplemental health insurance products in the U.S. recorded a fourth consecutive year of growth in 2024
April severe weather brings widespread hail and tornado damage – Aon
Severe weather in the second half of April caused significant property damage across several U.S. states, with insured losses expected to reach hundreds of millions of dollars
Mediobanca launches €6.3 bn share offer for 100% of Banca Generali
Mediobanca Group has announced a voluntary share-based exchange offer valued at €6.3 bn to acquire 100% of Banca Generali
Texas Senate passes Bill 1643 requiring regulatory approval for insurance rate changes
The Texas Senate has passed Senate Bill 1643, which would shift the state’s insurance rate-setting system from file-and-use to a prior approval model
PERILS updated insurance loss estimate of €696 mn for Windstorm Éowyn
PERILS, an independent insurance data provider, has released its second industry loss estimate for Windstorm Éowyn (also referred to as Gilles).
Industry opposes Louisiana Bill to create state-backed catastrophe reinsurance fund
Industry groups are opposing House Bill 672 in the Louisiana House of Representatives, which proposes a state-run catastrophe reinsurance fund backed by state-issued bonds
Insurance Europe urges EU action after US abandons global minimum tax
Insurance Europe has called on the European Commission to act urgently following the United States’ decision to withdraw from the global minimum tax initiative
Insurance Europe highlights several specific elements in the EC’s Omnibus proposal
Insurance Europe supports the European Commission’s (EC) revised approach aimed at simplifying regulation, improving competitiveness, and securing sustainable
Ontario and Quebec ice storm caused C$342 mn in insured damage
An ice storm that struck parts of Ontario and Quebec a month ago caused C$342 mn in insured damage
Alberta government proposes major overhaul of auto insurance system
The Alberta government introduced legislation that, if passed, will underpin the largest transformation of the auto insurance system in provincial history
Oregon Court reversed a $26.3 mn class-action award against Farmers
The Oregon Supreme Court reversed a $26.3 mn class-action award against Farmers, ruling that omitting statutory details from a director-approved notice does not expose
Russian insurers seek Indian approval for marine insurance of oil shipments
Three additional Russian insurers, including a unit of Sberbank, have requested approval from India to provide marine insurance for oil shipments to Indian ports
Korean Insurers Prepared for Decline in Commercial Real Estate Investment Values
Fitch Ratings asserts that Korean insurers are equipped to handle decreased valuations in their international commercial real estate (CRE) investments
Insurtech Steadily raised $30 mn in Series C, reaching $355 mn valuation
Landlord insurtech Steadily secured $30 mn in Series C funding, bringing its total valuation to $355 mn. This latest round increases the company’s total funding to $89.5 mn
Sentra raised $50 mn in Series B to expand AI and Cloud Data Security Platform
Cloud data security insurtech Sentra secured $50 mn in Series B funding, increasing its total capital raised to over $100 mn
SECUTIX and insurtech Cover Genius launched ticket protection partnership
SECUTIX, a market leader in advanced digital solutions for the event industry, announced the launch of a new ticket protection partnership with Cover Genius
Aegis, a Lloyd’s underwriter, offers terrorism coverage for U.S. businesses
Aegis, a Lloyd’s underwriter, announced it has increased the capacity of its Shield terrorism risk program to $500 mn from $250 mn
Annual insured losses from wildfires in Canada increased to C$706 mn
Average annual insured losses from catastrophic wildfires in Canada have increased to C$706 mn over the past decade, compared to an average of C$84 mn
California advances bill 354 to strengthen consumer data privacy in insurance
California Insurance Commissioner Ricardo Lara supports proposed legislation to create updated consumer privacy rules for insurers
Admiral sells U.S. auto insurtech Elephant to refocus on UK & Europe
Admiral Group announced the sale of its U.S. automobile insurtech, Elephant Insurance Co. and Elephant Insurance Services
Fintech Octane Lending secured a $700 mn facility from life insurers
Octane Lending, a fintech company that finances recreational purchases such as all-terrain vehicles, secured a $700 mn forward-flow facility from a group of life insurers
Kansas approves law establishing rules for protected cell captive insurers
Kansas Governor Laura Kelly approved legislation permitting one or more sponsors to establish a protected cell captive insurance company
U.S. insurers face $50 bn in Q1 losses amid Los Angeles Wildfires and Storms
U.S. insurers accounted for the majority of global insured losses in the first quarter, which reached the highest level in 15 years
Nevada Bill 180 proposes doubling liability insurance for trucking companies
The Nevada Senate approved a bill to raise the minimum liability insurance limits for motor carriers from the federally mandated $750,000 to $1.5 mn
PERILS estimated Cyclone Alfred insurance loss in Australia at AUD 2,568 mn
PERILS has disclosed its initial industry loss estimate for Cyclone Alfred which affected the Australian states of Queensland and New South Wales
PERILS released the Industry Exposure Database 2025
PERILS, the company providing industry-wide catastrophe insurance data, has released the PERILS Industry Exposure Database 2025
Insurtech 1Fort secured $7.5 mn to expand AI-powered insurance platform
1Fort, an AI platform for business insurance, has raised $7.5mn in an oversubscribed funding round led by Bonfire Ventures. This brings 1Fort’s total funding to $10mn
Insurtech Ocient raised $49.4 mn in additional Series B funding
Ocient, a data analytics software company, announced it raised $49.4 mn in additional Series B funding
Insurtech UnderwriteMe named Andrew Doran as new CEO
UnderwriteMe, the insurtech company owned by Pacific Life Re, has named Andrew Doran as its new chief executive officer
EU insurers to keep crypto exposure low under proposed S2 risk charge
EU insurers to maintain minimal exposure to crypto assets if the European Commission adopts a proposed 100% Solvency II (S2) risk charge
FCA review of private market valuations: findings, recommendations, industry outlook
The UK Financial Conduct Authority (FCA) released the results of a review examining valuation practices in private markets
Aon released Q1 Global Catastrophe Recap, providing analysis of natural disasters
Aon released its Q1 Global Catastrophe Recap for April 2025, providing analysis of natural disaster events worldwide during the first quarter
Louisiana advances Auto Insurance Reform to address legal system abuse
The Louisiana House of Representatives Committee on Civil Law and Procedure has approved a set of automobile insurance-related bills
U.S. Supreme Court case challenges preventive care mandates in insurance
U.S. Supreme Court will begin hearing arguments in Kennedy v. Braidwood, a case that questions the constitutionality of the U.S. Preventive Services Task Force
Florida expands pet insurance regulations with new disclosure and standards
Florida introduced new regulations to define terms, require disclosures, and establish other regulatory standards for pet insurance and wellness programs
Landmark Admin updated the number of individuals affected by cyberattack to 1.6 mn
Landmark Admin LLC has updated the number of individuals affected by last year’s cyberattack to 1.6 mn, according to a data breach notice
Insurtech Ignyte launched as a specialty platform for insurance brands
Ignyte Insurance launched as a specialty insurance platform focused on acquiring, expanding, and supporting insurance brands in niche global markets
California insurers accused of collusion to force homeowners onto high-cost Fair Plan
Two law firms representing California homeowners have accused several of the state’s largest home insurance companies of working together to eliminate standard property policies
Bernhard Kaufmann will succeed Patrick Raaflaub as Swiss Re’s Group CRO
Swiss Re announced that Bernhard Kaufmann will succeed Patrick Raaflaub as Group Chief Risk Officer as of 1 October 2025
UK insurtech Marshmallow raised £68 mn, bringing valuation to £1.5 bn
UK-based insurtech Marshmallow has raised £68 mn through a mix of debt and equity financing, bringing its valuation to £1.5 bn
Crypto life insurtech Meanwhile raised $40 mn in a Series A, valued at $190 mn
Meanwhile, a life insurance startup that operates exclusively in Bitcoin, raised $40mn in a Series A funding round. The company is now valued at $190mn
Vienna Insurance Group acquired a 48.8% stake in financial broker Phinance
Vienna Insurance Group (VIG), based in Austria, has acquired a 48.82% stake in Polish financial broker Phinance
Luma Financial Technologies sequred $63 mn in Series C
Luma Financial Technologies, a global insurtech company in structured products and insurance solutions, has raised $63mn in Series C funding
Chapter raised $75 mn in Series D to expand Medicare & retirement services
Chapter, a Medicare guidance insurtech platform headquartered in New York, secured $75mn in Series D funding led by Stripes
UK-based insurtech Ripe completes acquisition of GJW Direct from Munich Re
UK-based insurtech Ripe has completed the acquisition of marine insurance provider GJW Direct from Munich Re Specialty
Insurtech XChange TEC INC acquired a Hong Kong-based insurance broker
Chinese insurtech XChange TEC INC has acquired a Hong Kong-based insurance broker, establishing a base to expand its services across China
Louisiana considers auto insurance premium tax credit legislation
A bill under review in the Louisiana legislature proposes a tax credit for policyholders paying high automobile insurance premiums
Lloyd’s market delivers strong investor returns amid shifting business mix
In 2024, Lloyd’s delivered strong returns to investors, with overall market profits just below the previous year’s record high
Australian ASIC sues Hollard Insurance over prolonged claim handling
The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings against Hollard Insurance Partners, alleging serious failures
Illinois Senate considers study on insurance rating practices & potential disparities
The Illinois Senate is reviewing House Bill 1234, which mandates a study into whether insurers’ use of ZIP codes, credit scores, age, and other underwriting criteria results
China’s NAFR eases investment limits for insurers to boost real economy
China’s National Administration of Financial Regulation (NAFR) is raising equity allocation ratios for certain assets and increasing the cap on venture capital fund
Texas Court overturns $25 mn judgment for Exxon in refinery explosion insurance dispute
A Texas appellate court overturned a prior $25 mn judgment awarded to Exxon Mobil Corp. and ExxonMobil Oil Corp. in a dispute with Lexington Insurance Co
Appeals Court rules State Auto Insurance denied E&O coverage in $13.3 mn death case
The 6th Circuit Court of Appeals upheld a lower court decision that State Auto Insurance Co. was not entitled to coverage under its errors and omissions (E&O) insurance
Marsh launches CyberShore Bermuda up to $30 mn in excess cyber insurance capacity
Marsh, the insurance broker and risk advisor, and a business of Marsh McLennan, announced the launch of CyberShore Bermuda, an exclusive, excess cyber insurance
Global cyber insurance premium is set to reach $16.4 bn in 2026 as rates fall, AI risks grow and SMEs remain the largest growth opportunity
Cyber insurers are reviewing policy wording as autonomous AI agents create new questions over cyberattack definitions, liability and coverage triggers
RiskScan 2026 reveals how cyber, climate, AI, inflation and business interruption are converging to reshape insurance priorities and risk management
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure