Cost of car insurance in the U.S. climbed nearly 21%
The cost of car insurance in the U.S. has climbed nearly 21% over the past year, according to the BLS. It rose nearly 2% in January without seasonal adjustments
News
Dutch insurer Achmea sales of its life insurance division
Dutch insurer Achmea is weighing the sale of its life insurance division. Achmea has hired JPMorgan to chart the possibilities for the division
PERILS updated loss estimate for Kahramanmaras Earthquake to $6.2bn
PERILS updated its fourth loss estimate for the Kahramanmaras Earthquake of 2023 which affected large parts of south-central Turkey
PERILS updated insurance loss for Windstorm Ciarán (Emir) in Europe
PERILS has updated its insurance loss estimate for Windstorm Ciarán (also known as Emir) that impacted parts of Europe on 1-2 November 2023
PERILS’ final estimate for insurance losses from North Island floods
PERILS, an independent organization based in Zurich, has released its final estimate of NZD 2,230 million for the insurance market losses from the North Island floods
Insurtech Quandri is launched a AI robotic process automation for insurance
Insurtech Quandri is working in the field of robotic process automation (RPA) by offering a specialized solution for the insurance industry
Lloyd’s partnered with SAP to contribute to economic resilience
Lloyd’s of London, the insurance and reinsurance marketplace, has entered into a partnership with Sherbro Alliance Partners (SAP)
Corvus Insurance updated Tech E+O insurance product
Cyber insurtech Corvus Insurance has updated its Tech E+O (Errors and Omissions) insurance product, now supported by Travelers
Hannover Re increased a prices in P&C reinsurance sector
Hannover Re reported a 2.3% increase in prices, on renewals on January 1, 2024, within the traditional property and casualty (P&C) reinsurance sector
Reinsurer SCOR reported a 13.6% increase in premium income for P&C business
Global reinsurer SCOR reported a 13.6% increase in estimated gross premium income for its Property & Casualty (P&C) business
Insurance industry reservated about the EU Corporate Taxation Directive
Insurance Europe has shared its views on the European Commission’s proposal for a ‘Business in Europe: Framework for Income Taxation
UNIQA Insurance Group becomes a member of the Eurapco Alliance
UNIQA Insurance Group will become a permanent member of the Eurapco Alliance in 2024. The cooperation is based on the regular exchange of knowledge
iptiQ developed Goboony Motor Day Insurance with a per-day coverage
iptiQ and Goboony introduced an innovative car sharing insurance solution, seamlessly integrated into the Goboony platform
Real estate insurtech Sisu launched Sympli Insurance initiative
Sisu, a real estate software company based in Kaysville, Utah, has recently unveiled Sympli, a groundbreaking initiative aimed at enabling its clients
Insurtech DigitalOwl sequred $12 mn from Reinsurance Group of America
DigitalOwl, an Israeli insurtech startup, has offered an innovative platform that automates the reading, summarization, and analysis of medical records
WTW unveiled a parametric insurance for coral reef ecosystems
WTW has unveiled an innovative parametric insurance policy designed to safeguard the coral reef ecosystems within the South Pacific Ocean’s Lau Group. This pioneering insurance… Read More »WTW unveiled a parametric insurance for coral reef ecosystems
Insurtech Kin Insurance raised $15 mn from new investor Activate Capital
Insurtech Kin Insurance has secured a investment of $15 million from Activate Capital, a new investor in the company
Insurtech Artificial Labs sequred $10 mn in Series A+ funding round
Insurtech Artificial Labs has raised $10 mn in it’s Series A+ round, following a $5.9 mn investment from Augmentum, Europe’s foremost publicly listed fintech fund
APOLLO Insurance introduced a CreditBuilder solution with Zenbase
APOLLO Insurance, a digital insurance provider in Canada, has introduced a novel feature by partnering with Zenbase, allowing customers to improve their credit ratings
Chris Mackinnon becomes Lloyd’s regional director for Asia Pacific Middle East & Africa
Chris Mackinnon, with over three decades of experience in the insurance industry, is poised to become Lloyd’s Regional Director for Asia Pacific, Middle East, and Africa
Howden Group acquired Scottish broker Laurie Ross
Howden has recently announced its acquisition of Laurie Ross, a Scotland-based broker specializing in both personal and commercial lines
The UK financial services industry reported 273 M&A deals in 2023, totaled £12bn
The UK financial services industry reported 273 deals in 2023, representing a 9% fall from the 301 deals recorded in 2022
UK insurers will experiences the significant NatCat losses in 2023-2024
UK home insurance market experienced its worst performing year on record in 2022, according to EY’s latest UK Home Results Analysis
Vienna Insurance Group will elect a new Chairman for the Supervisory Board
Günter Geyer, the Chairman of the Supervisory Board of Vienna Insurance Group (VIG), has announced that he will not be available for reappointment
UNIQA Group launches HUB for International Programmes in Poland
The UNIQA Group launches a HUB for International Programmes in Poland, which will be a competence center for 15 countries in Central and Eastern Europe
In Poland, there is only one Motor Hull policy for every 4 MTPL policies
According to the Polish Chamber of Insurance, the number of active mandatory MTPL policies exceeded 27.7 million in Poland
Aviva will receive an additional £80 mn from sale of Singapore Life
Aviva plc has announced expectations to receive an additional £80 million (approximately SGD 0.1 billion) from the sale of its shares in Singapore Life Holdings Pte Ltd (Singlife)
Croatian insurance market exhibits a dynamic landscape in 2023-2024
The Croatian insurance market exhibits a dynamic landscape, with key segments being life insurance and general insurance
PERILS estimated loss from Babet-Aline floods & storms up to EUR 683 mm
PERILS has updated its loss estimate for floods and storms caused by low-pressure systems Babet (Viktor) and Aline (Wolfgang)
Bermuda reinsurers’ underwriting profitability peak up levels
Bermuda reinsurers’ underwriting profitability is likely peaking at current levels, as price increases moderate and loss-cost inflation persists
CoreLogic estimated the insured loss from the earthquake in Noto below $5 bn
A shallow magnitude (Mw) 7.5 earthquake hit western Japan on Jan. 1, 2024, according to the U.S. Geological Survey (USGS
Verisk Estimates Insured Losses for the Noto Peninsula Earthquake
The Noto Peninsula earthquake caused damage across an extensive area around and south of the epicenter. While most of heavy damage occurred in Ishikawa prefecture
Moody’s RMS Estimated Total Insured Losses from Noto Earthquake $3-6 bn
Moody’s RMS, the leading global catastrophe risk modeling and solutions company, estimates total insured losses between $3-6 bn
Generali becomed the 100% shareholder of Generali China Insurance
Generali enhances its strategic position in China, becoming the 100% shareholder of Generali China Insurance Company
Lloyd’s explores the biggest threats to supply chains in transportation and logistics
Lloyd’s of London has published a new report – On the move – which explores the biggest threats to supply chains in transportation and logistics
20% of sports accidents happens to skiers – German Insurers’ Association data
One in five sports accidents happens to skiers, a study performed by the German Insurers’ Association (GDV) shows
Europe-wide comparative study on non-life insurance underwriting risk by EIOPA
The European Insurance and Occupational Pensions Authority (EIOPA) in the beginning of the year the results of a Europe-wide comparative study on non-life underwriting risk
Morgan Stanley highlights the challenge of social inflation in insurance, to continue in 2024
Morgan Stanley’s recent report highlights the ongoing challenge of social inflation in the insurance industry, expected to continue through 2024
Cargo insurtech Parsyl increased capacity in Essential Consortium to $55 mn
Parsyl, a technology-driven cargo insurance consortium, has significantly increased its capacity in the Essential Consortium to $55 mn
Marsh introduced ReadyCellSM, a novel risk financing solution
Marsh, a global leader in insurance brokerage and risk advising, and part of Marsh McLennan, recently introduced ReadyCellSM, a novel risk financing solution
Insured losses from the flooding in Germany will remain €1 bn if flood dykes hold
The insured losses from the recent flooding in various regions of Germany are expected to remain under €1 bn if the flood dykes hold, as per Onnen Siems
Global reinsurance market experienced a significant recovery in capital
Total reinsurance capital is projected to return to $561 bn in 2024, which is just less than 2% below the record high of $570 bn set in 2021
Hyperexponential raised $73 mn Series B to expand insurance pricing platform
UK insurtech Hyperexponential, the pricing decision intelligence (PDI) software, announced completion of its $73 mn Series B funding
Total insured losses from Japan earthquake set to reach $5-6bn
CoreLogic estimates that insured losses in the country from the quake could be between $1 billion and $5 billion. Karen Clark said that total insured losses will reach $6.4 bn
Potential for increased reinsurance prices in april renewals after Japan Earthquake
The earthquake on the west coast of Japan on January 1st has significant implications for the reinsurance market, particularly concerning the upcoming April 1 reinsurance renewals
Cowbell Cyber extended cyber insurance coverage to mid-market businesses in the UK
Cowbell Cyber Inc., a US-domiciled cyber insurer, has recently extended its cyber insurance coverage to mid-market businesses in the UK
Fintech Vestwell raised $125 mn in Series D for savings platform
Vestwell, a fintech platform for employer and individual savings, has successfully completed a Series D fundraising round, securing a $125 mn
Bain Capital Insurance invests a $200 mn in GuideOne Insurance Company
Bain Capital Insurance has announced a $200 mn investment in GuideOne, marking the inception of The Mutual Group, a new insurance platform
Insurtech SafeEnterprise launched of cyber insurance for autodealers
SafeEnterprise, a cyber insurtech supported by Lloyds of London, is introducing its latest product tailored for the automotive dealership sector
EU Agrees on Enhanced Solvency II Rules to Strengthen Insurance Sector’s Role
The Council of the European Union and the Parliament have come to a provisional agreement on amendments to the Solvency II directive
Partech launches €360 mn venture fund to back software & fintech in Europe
Partech launches its successor €360 mn venture fund to back mission-critical software, data and fintech specialists in Europe
China Life Insurance and China Pacific saw declines in investment income
China Life Insurance and China Pacific Insurance (Group) saw sharp declines in investment income year over year through the first nine months of 2023
Aon’s $13.4 bn acquisition of NFP is largest deal in global insurance broking sector
Aon’s $13.4 billion acquisition of NFP is the largest deal ever announced in the global insurance broking sector
UNIQA is the first insurer in Austria to have ambitious targets to reduce emissions
UNIQA Group informed that is the first insurance company in Austria to have ambitious targets to reduce emissions
VIG Re raises EUR 150 mn additional equity for digital transformation
VIG Re, the reinsurance company of Vienna Insurance Group, announced the increase of its registered capital by the amount of EUR 100 mn in 2023
Sumitomo Life Insurance acquired a 35.5% stake in Singapore Life Holdings
Sumitomo Life Insurance Company, a Japanese insurer, has agreed to acquire a 35.5% stake in Singapore Life Holdings (Singlife) from TPG Inc
Lloyd’s of London will stay in its City Tower until at least 2035
Lloyd’s of London has extended its lease at the iconic One Lime Street headquarters until at least 2035, with an option to extend to 2040
Munich Re launches underwriting tool SARA for insurers in EU and Latin America
Munich Re Automation Solutions launches of new module Interview Screens for its automated underwriting point of sale solution, SARA
Insurtech providers are helping European insurers transform their businesses
European insurers, facing challenging macroeconomic conditions, new market risks, are seeking more agile, tech-savvy approaches to business
Greek insurance market experienced growth in 9M 2023, reaching EUR 3.8 bn
The Greek insurance market experienced growth in the three quarters of 2023, reaching EUR 3.8 billion. This represents a 9.7% year-over-year increase
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
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities