Fairfax reported a $3.9 bn net earnings and $1.8 bn in underwriting profit for 2024FY
Fairfax Financial Holdings reported net earnings of $3.87bn for the 2024 fiscal year, or $160.56 per diluted share after preferred dividends
News
Georgia Senate passes Bill SB 69 to limit lawsuit awards after Kemp Backs compromise
Georgia Senate Republicans approved a bill Friday to limit lawsuit awards after a compromise on medical damages secured the necessary votes
Insurtech Orion180 hired former The Hartford executive Chris DiMartino as CUO
Orion180, an insurtech provider of innovative insurance solutions, today announced it has hired former The Hartford executive Chris DiMartino as Chief Underwriting Officer
MGA NSM Insurance sells its U.S. division to New Mountain Capital
NSM Insurance Group, a global specialty insurance provider, has agreed to sell its U.S. commercial insurance division to New Mountain Capital
Ping An Insurance to sell 41,9% stake in Autohome for $1.8 bn
Autohome, a Hong Kong-listed company, announced that Ping An Insurance will no longer be its controlling shareholder after selling a 41.91% stake for $1.8bn
Chinese insurtech AIX faces Nasdaq compliance deadline after share price falls below $1
Chinese insurtech AIX announced it received a notification from Nasdaq stating that its American depositary shares (ADS) have fallen below
Chubb named Ana Robic as regional president for Europe, the Middle East, and Africa (EMEA)
Chubb has named Ana Robic as the new regional president for Europe, the Middle East, and Africa (EMEA), stepping into the role previously held by David Furby
MetLife adds former Swiss Re CEO Christian Mumenthaler to Board amid strategic growth
MetLife has elected Christian Mumenthaler, former Group CEO of Swiss Re, to its board of directors, effective May 1, 2025
Digital asset insurtech Soter Insure sequred funding in Series A led by Galaxy
Insurtech Soter Insure, a provider of insurance products for the digital asset market, has raised an undisclosed amount in its Series A funding round, led by Galax
Vouch acquired the team and book of business from StartSure
Vouch, a business insurance provider for high-growth companies, has acquired the team and book of business from StartSure Insurance Services
Insurtech SafelyYou raised $43 mn in a Series C funding led by Touring Capital
Insurtech SafelyYou has raised $43mn in a Series C funding round led by Touring Capital, bringing its total funding to over $100mn
Marine insurtech Ahoy! Insurance expanded into Florida
Ahoy! Insurance, a technology-focused marine insurer, has expanded into Florida. This move targets Florida’s large boating community with flexible
Simplifai introduced Agentic AI to improve claims handling and underwriting
Norwegian insurtech Simplifai has introduced Agentic AI to improve claims handling, underwriting, and customer service
Kera McDonald appointed Swiss Re’s Group Chief Underwriting Officer
Swiss Re announced that Kera McDonald, currently Chief Underwriting Officer of Swiss Re Corporate Solutions, is appointed Group Chief Underwriting Officer
Swiss Re reported a net income of $3.2bn for 2024, ROE of 15%
Swiss Re reported a net income of $3.2bn for 2024, with a return on equity (ROE) of 15%. Fourth-quarter net income reached $1.1bn
Home insurtech Openly announced a $193 mn growth financing round
Home insurance startup Openly announced a $193 mn growth financing round, strengthening its expansion plans and market leadership in insurtech
Flow Specialty introduced the industry’s first AI insurance broker
Flow Specialty, a wholesale 3.0 specialty commercial brokerage, has introduced the industry’s first AI insurance broker
Insurtech Alan increased an annual recurring revenue to €505 mn
French insurtech Alan reported €505mn in annual recurring revenue (ARR) for 2024, marking a 48% increase from €340mn in 2023
Twelve Capital and Securis Investment merge to form $8.5 bn global ILS manager
Twelve Capital and Securis Investment Partners have merged, forming a global insurance-linked securities (ILS) asset manager with $8.5bn
Kentucky Senate Committee unanimously backs Bill 24 to combat insurance fraud
A measure to help tackle insurance fraud in Kentucky – Senate Bill 24 – gained unanimous approval from legislators on the Senate Banking and Insurance Committee
Hawaii Supreme Court limits insurers’ subrogation rights in Maui Wildfire settlements
The Hawaii Supreme Court ruled that insurers cannot file subrogation claims against third parties involved in the Maui wildfires once those parties
UnitedHealthcare Insurance fined $3.4 mn in North Carolina for illegal balance billing
UnitedHealthcare Insurance Co. agreed to pay a $3.4mn fine to the North Carolina Department of Insurance for balance billing practices that violate state law
MNK Re launched an energy facility providing capacity of up to $50 mn for Latin America
MNK Re introduced an energy facility with a capacity of up to $50mn for small and medium-sized businesses across Latin America
Legal & General completed £370 mn buy-in with the BAL section of the TUI Group UK Pension Trust
Legal & General Assurance Society Limited completed a £370 mn buy-in with the BAL section of the TUI Group UK Pension Trust
Legal & General Group sells U.S. business to Meiji Yasuda Life Insurance for $2.3 bn
Legal & General Group plc agreed to sell its U.S. protection business to Meiji Yasuda Life Insurance Co. in a $2.3 billion deal
Suncorp Group finalized the sale of Asteron Life, its New Zealand life insurer
Suncorp Group has finalized the sale of Asteron Life, its New Zealand life insurance business, to Resolution Life NOHC for NZ$410 mn
Arthur J. Gallagher & Co. agrees to $21 mn Settlement over 2020 data breach
Arthur J. Gallagher & Co. (AJG) has agreed to settle a class-action lawsuit for $21 million following a 2020 data breach that compromised personal information
Judge rules Louisiana Insurance Department lacked authority to penalize Texas law firm for fraud
The Louisiana Department of Insurance did not have the authority to issue fines and a cease-and-desist order against a Texas law firm accused of massive fraud
Florida’s 2025-2026 budget dedicates over $600 mn to home & condominium risk mitigation
Florida’s 2025-2026 budget dedicates over $600 million to home and condominium risk mitigation. This funding supports the My Safe Florida Home grant program
U.S. insurance industry added 6,900 jobs in January – Bureau of Labor Statistics
The U.S. insurance industry added 6,900 jobs in January compared to December, according to preliminary data from the Bureau of Labor Statistics
New York allows stand-alone business interruption insurance without physical loss
New York passed a law permitting stand-alone business interruption insurance policies that cover closures even without direct physical loss
Life insurtech Bestow appointed new chief product officer and VP of finance
Insurtech Bestow appointed David Malenoir-Evans as chief product officer, Doug Brewster as vice president of finance
Australian digital insurance broker UpCover secured $19 mn in a Series A
Australian digital insurance broker UpCover has secured $19 mn in a Series A funding round to accelerate the growth of its platform
CLARK launched a first fully digital underwriting solution in the UK
CLARK, European digital insurance broker is transforming the insurance experience with the launch of its first fully digital underwriting solution in the UK
Placing Platform: reinsurance electronic London Market platform showed strong performance
Placing Platform said its electronic London Market platform showed strong performance and service delivery during the peak Jan. 1 renewal season
Lloyd’s launched new EUR and GBP Enhanced Yield Liquidity funds
Lloyd’s of London announces the expansion of its Enhanced Liquidity Fund range for Strategic Cash Management on the Lloyd’s Investment Platform
California court rules wildfire debris is not direct physical loss in insurance dispute
A California appeals court ruled that wildfire debris does not automatically qualify as “direct physical loss or damage,” upholding a lower court’s decision
U.K. motor insurers paid a record £11.7 bn in car insurance claims
Rising theft and repair costs have driven up premiums as U.K. motor insurers paid a record £11.7bn in car insurance claims in 2024
Aon appointed Jennifer Richards as CEO of Asia-Pacific, Anne Corona as Global CCO
Richards will collaborate with the Asia-Pacific executive committee to expand the firm’s capabilities, strengthen client relationships, drive growth, and execute the 3×3 Plan
Aon announced a co-broking agreement with Protecdiv, a minority-owned brokerage
Aon announced a co-broking agreement with Protecdiv, a minority-owned brokerage, to expand service offerings for U.S. public and private sector clients
Midland National Life Insurance reported a data breach may exposed customer info
Midland National Life Insurance Co. reported a data breach discovered in January that may have exposed customer details, including names and account numbers
Tokio Marine increased profit through equity sales and lower catastrophe losses
Tokio Marine Holdings Inc. increased its fiscal third-quarter profit through equity sales and lower catastrophe losses, estimating a ¥31 bn ($200 mn) loss
Japan Post Insurance increased net income in 2024
Japan Post Insurance Co. increased its nine-month net income due to stronger investment performance in a better market environment
Trump`s “tariffs” could increase P&C insurance claims by $10 bn to $36 bn
Tariffs imposed by the Trump administration could increase claims costs for property and casualty insurance by $10 bn to $36 bn
State Farm faces its largest loss in history due to Los Angeles wildfires
State Farm General Insurance Co. faces its largest loss in history due to last month’s Los Angeles wildfires. Already under financial strain
Chariot Re may expand to cover third-party risks in the future
Chariot Reinsurance, a Bermuda-based reinsurer announced by MetLife Inc. and General Atlantic last year, may expand to cover third-party risks in the future
Lloyd’s underwriter Probitas expands political violence & accident/health coverage
Lloyd’s underwriter Probitas is expanding after its acquisition by Aviva plc, introducing political violence and terrorism (PVT) and accident/health (A&H) coverage
Maryland senators reviewing SB 985 to regulate third-party litigation financing contracts
Maryland Senators are reviewing SB 985, a bill aimed at regulating third-party litigation financing contracts. The legislation would require specific disclosures
Florida’s Citizens Property Insurance will lower rates by 5.6% statewide in 2025
Florida’s Citizens Property Insurance will lower rates by 5.6% statewide in 2025, Gov. Ron DeSantis announced. He claimed the state experienced the lowest average increase
Wisedocs, an AI-driven insurance claims platform, introduced two new features
Wisedocs, an AI-driven insurance claims platform with expert oversight, has introduced two new features to improve how medical records
Convex Group, a specialty re/insurer, launched Lloyd’s Syndicate 1984
Convex Group, an international specialty insurer and reinsurer, has received in-principle approval to launch Lloyd’s Syndicate 1984
Insurtech Vigil raised $1.3 mn in a pre-seed funding led by M25
Annuities insurtech Vigil has raised $1.3mn in a pre-seed funding round led by M25, with support from Nationwide Ventures, Rex Salisbury, Clocktower Ventures
ZestyAI partnered with Safepoint to improve underwriting accuracy & risk assessment
Safepoint Holdings has partnered with ZestyAI to improve underwriting accuracy and risk assessment. ZestyAI specializes in AI-driven climate and property risk analytics
Insurtech Neutrinos introduced a platform that helps insurers apply AI-driven tasks
Neutrinos, a specialist in intelligent automation, has introduced a platform that helps insurers apply AI-driven decision-making, simplify tasks, and improve customer interactions
Duck Creek partnered with Worldpay to improve payment processing for insurers
Duck Creek Technologies, a provider of technology solutions for P&C insurance sector, has partnered with Worldpay to improve payment processing for insurers
SelectQuote secured $350 mn investment led by Bain Capital
SelectQuote, a major Medicare insurance distributor and healthcare services provider, has secured a $350mn investment. Bain Capital, Morgan Stanley
Insurtech Comulate raised $20mn in a Series B led by BOND & Workday Ventures
Comulate, an InsurTech firm focused on accounting automation for insurance brokers, has raised $20mn in a Series B round led by BOND and Workday Ventures
High Definition Vehicle Insurance raised $40 mn in growth capital
High Definition Vehicle Insurance (HDVI), a commercial auto insurer focused on technology, raised $40mn in growth capital, bringing total funding to over $87mn
Norwegian insurTech 7Analytics received investment from IAG Firemark Ventures
Norwegian InsurTech startup 7Analytics, which focuses on flood data analytics, has received investment from IAG Firemark Ventures
AI-insurtech Cytora launched Cytora Platform 3.0, an upgraded agentic AI
Cytora, an AI-driven solution provider for insurers, has launched Cytora Platform 3.0, an upgraded version of its digital risk processing system
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