Fintech CBiGroup raised $15 mn in Series A funding led by Alpol Capital
US-based fintech CBiGroup has secured $15 mn in Series A funding, led by Alpol Capital Family Office, an investor in emerging technologies
News
Uniswap Foundation disclosed its $41.4 mn balance sheet
The Uniswap community is preparing to vote on a proposal to implement a new fee distribution plan. The Uniswap Foundation has disclosed its balance sheet
Munich Re Specialty integrated Kalepa’s Copilot underwriting platform
Munich Re Specialty – North America has integrated Kalepa’s Copilot underwriting platform to enhance risk analysis and streamline operations
Health sector can be hardest hit by adverse effects of artificial intelligence
The health and pharmaceuticals sector is set to be hardest hit by the adverse effects of artificial intelligence (AI) over the next decade,
Insurtech INZMO launched AI-RentalBot to assist tenants & landlords
Insurtech INZMO has launched RentalBot, an AI-powered chatbot designed to assist tenants and landlords with legal inquiries related to rental issues
Insurtech Vitesse raised $93 mn in Series C funding
Insurtech Vitesse, a payment solutions provider for the insurance industry, has raised of a $93 mn Series C funding round
Insurtech Cover Whale sequred $27.5 mn from Morgan Stanle
Insurtech Cover Whale Insurance Solutions, specialising in connected insurance for commercial auto, has sequred $27.5 mn in debt and equity
U.S. cyber insurance market will grow to $20 bn by 2025
New cyber insurance capacity is increasingly matching fast-growing demand, particularly within the United States, and greater competition
ICEYE launched Flood Early Warning, satellite solutions for UK insurers
ICEYE, a satellite-powered disaster management solutions, has launched of its high-resolution Flood Early Warning and ongoing customer pilots of Flood Rapid Impact
Average U.S. homeowners insurance premiums increased – IRC report
Average U.S. homeowners insurance premiums have increased at a rate that has outpaced household income from 2001 to 2021
European insurers’ premium growth outpaced expense growth
Achieving sustainable margin recovery appears increasingly difficult for European insurers, as real-term premium increases are necessary to avoid erosion after costs surged to 10.9%
Insurtech Cortical will help Swiss Re for digital transformation in group insurance
AI-insurtech Cortical announced a strategic alliance with Swiss Re, a global leader in reinsurance. The collaboration aims to facilitate the adoption
Re/Insurance marketplace CatX launched Catamaran, AI-powered tool
CatX, a marketplace that connects (re)insurers and brokers with alternative capital, announced the launch of Catamaran, a stand-alone artificial-intelligence powered tool
Insurtech Cover Genius announced its $80 mn Series E funding
Cover Genius, the insurtech for embedded protection, today announced its $80 mn Series E funding round led by Spark Capital
Brazil floods, estimated at $1,5 bn, will increase re/insurance losses
AM Best has noted that the impact on most re/insurers will be contained as they retain smaller exposures and have exited volatile business lines
Insurance industry calls on European Commission to deliver Solvency II deal
Insurance Europe has written to the European Commission highlighting the importance that technical negotiations of the EU’s Solvency II review stay aligned
Large Dutch insurance companies exhibited robust regulatory capitalisation
According to Fitch Ratings analysts, large Dutch insurance companies exhibited robust regulatory capitalisation in 2023
UNIQA Insurance Group saw a positive developments in CEE market
UNIQA Insurance Group has published report about positive developments of the companies in CEE, which made a substantial contribution of around 50%
Ivan Gonzalez appointed CEO Swiss Re Corporate Solutions
Swiss Re announced that Ivan Gonzalez, CEO Reinsurance China, has been appointed CEO Corporate Solutions, succeeding Andreas Berger as of 1 July 2024
Insurtech Honeycomb sequred $36 mn Series B led by Zeev Ventures
Israeli insurtech company Honeycomb, specializing in multi-family properties, has sequred $36 mn in a Series B funding round led by Zeev Ventures
Insurtech Eleos raised $4 mn seed funding round
UK-based insurtech company Eleos has raised $4 mn in a seed funding round to support its planned expansion into the United States
Swiss Re posted a net income of $1.1bn for Q1 2024
Swiss Re posted a net income of USD 1.1 billion for the first quarter of 2024. The result benefitted from underwriting discipline and strong investment income
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
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
Bitcoin ETFs simplify the process. This structure enables you to access your exposure within an asset via an already harmonized structure within the regulations concerning settlement and risk management
Private equity’s grip on US insurers deepens risk concerns as assets shift into opaque credit, offshore deals and affiliated investments
Fitch survey shows European insurers turning to private credit for illiquidity premiums, diversification, and ESG goals, as market grows to $2.7tn by 2029
Insurance stocks fell in Q3 while the S&P 500 gained nearly 7%. P&C names lagged, with analysts calling the quarter underwhelming after 2024’s strong run