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
News
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
PERILS estimated insurance loss for Australia Christmas Storms at $1 bn
PERILS, the Zurich-based providre of industry-wide catastrophe insurance data, has disclosed its second industry loss estimate for the Australia Christmas Storms
Swiss Re announced that Andreas Berger will become Group CEO
Swiss Re announced that Andreas Berger will become Group Chief Executive Officer effective 1 July 2024, taking over from Christian Mumenthaler, who will step down
Florida’s insurance market continues to strengthen in 2024
Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on property and casualty insurance market
Insurtech Empathy sequred $47 mn Series B funding led by Index Ventures
Insurtech Empathy announced the closure of a $47 mn Series B funding round, spearheaded by Index Ventures, alongside notable contributions from General Catalyst
CoreLogic estimated insurable losses from Earthquake in Taiwan up to $1 bn
CoreLogic estimates insurable losses from the 7.2 magnitude earthquake that hit Taiwan on April 3, 2024 will be between $0.5 and $1 bn
AGCS to sell US Fireman’s Fund insurance businesses to Arch for $1.4 bn
Allianz Global Corporate & Specialty to sell its Fireman’s Fund insurance businesses in the United States to Arch Insurance North America for total transaction value of $1.4 bn
Reinsurance market’s underlying ROE improved to 14.3%
Global reinsurance industry’s underlying ROE was above the cost of capital for the second consecutive year in 2023, improving to 14.3%
Verisk launched its Next Generation Models for re/insurers
Global data analytics and technology provider Verisk has launched its Next Generation Models (NGM), which will be implemented by insurers and reinsurers
High Court: $10 bn insurance aircraft payouts should be heard in London
London’s High Court has decided that the $10 bn battle between reinsurers and a host of aircraft leasing companies seeking payouts for more than 200 jets stuck
Largest European reinsurers achieved an earning of €10.2 bn in 2023
The largest European reinsurers achieved a combined earning of €10.2 bn in 2023, more than double their earnings in 2022, attributed to higher prices
Insurtech Coterie secured a substantial $27 mn in post-Series B round
Insurtech Coterie, which specialises in services for small businesses, has secured a substantial $27 mn in funding during a post-Series B round
Insurtech Vouch raised $25 mn Series C-1 funding led by Ribbit Capital
Insurtech Vouch announced the closure of a $25 million Series C-1 funding round, led by Ribbit Capital
Insurtech Sostengo raised $3.8 mn seed funding for Latam & U.S. Hispanic entry
Central American Insurtech Sostengo raised $3.8 mn seed funding for Latam markets and U.S. Hispanic entry. With 103% premium growth
IDfy secured a substantial financial injection of $27 mn funding
IDfy has secured a substantial financial injection of $27 mn in a recent funding round, signifying a pivotal moment for the company’s trajectory
Japanese Dai-ichi Life Insurance acquired of a 19.9% stake in Canyon Partners
Japanese insurance company Dai-ichi Life Holdings has acquired of a minority stake in Canyon Partners, a leading alternative investment manager based in the United States
Reinsurance industry faced $50bn of SCS-related losses
(Re)insurance industry has already faced about $50bn of SCS-related losses in 2023. Over the past five years, SCS insured losses averaged around $15b
Brazilian cybersecurity insurtech Bluecyber raised $1.5 mn in funding
Brazilian insurtech Bluecyber, specialising in cyber insurance, has raised $1.5 mn in funding led by venture capitalists Invisto and Bossa Invest
Agio Ratings, a crypto risk analytics startup, raised a $4.6 mn
The UK startup Agio Ratings, specializing in crypto risk analytics, has announced a fundraising round totaling $4.6 mn led by Superscrypt
M&A in UK insurance industry rose, in contrast to a EU slowdown
M&A in the UK insurance industry rose in 2023, in contrast to a wider slowdown in deal activity across Europe, the Middle East and Africa
Pool Re have confidence in members’ support for terrorism risk coverage
Pool Reinsurance, the UK terrorism reinsurer, have confidence in members’ support for operational changes and new reinsurance coverage
Most global M&A deals announced with transaction values >$10 bn
February marked the third straight month in which four global M&A deals were announced with transaction values greater than $10 billion
LGI developed behaviour based insurance for insurtech Carrot
Insurtech Carrot General Insurance has partnered with Lippo General Insurance, Indonesia to develop a Behaviour Based Insurance solution.
Vienna Insurance Group appointed of Christoph Rath as Managing Board’s deputy member
Austrian Vienna Insurance Group has announced the appointment of Christoph Rath as a deputy member of the Managing Board
Trading automation protocol Umoja raised $4 mn in seed round
Trading automation protocol Umoja seed funding round has successfully secured an additional $2 mn, bringing the total to $4 mn
California’s restrictions to fair insurance pricing are putting pressure on insurers
California’s regulatory restrictions to fair, actuarially sound insurance pricing and underwriting, are putting financial pressure on insurers
Genesis Global Capital will pay $21 mn penalty to SEC for crypto securities offer
Genesis Global Capital will pay a $21 mn penalty after pleading guilty to charges that it engaged in the unregistered offer
Insurtech Genasys updated a core Genasys Unify platform
Genasys, the provider of insurance administration software, announced Genasys Unify, a major update to the core Genasys platform
Sweet Security raised $33 mn in Series A led by Evolution Equity
Israeli startup Sweet Security, specialising in addressing cloud risks for companies, has successfully raised $33 mn in a Series A funding round
Insurity & OIP Robotics partnered for P&C insurance automation
Insurity, the cloud software insurtech for insurance carriers, brokers, and MGAs, has partnered with OIP Robotics (OIPR)
Outlier Ventures and peaq launched the DePIN Base Camp Accelerator
Outlier Ventures and peaq have launched of the DePIN Base Camp Accelerator program to accelerating the development and application of decentralized physical infrastructure
Insurtech Fijoya raised $8.3 mn in seed round
Fijoya, an insurtech startup specializing in health and wellness services for employers, recently secured $8.3 mn in seed funding
Aon acquired of the technology & intellectual property of Humn:ai
Aon announced its acquisition of the technology assets and intellectual property of Humn:ai, a move designed to enhance its commercial fleet services
National Flood Insurance Program secured $575 mn in reinsurance from ILS
U.S. Federal Emergency Management Agency has reinforced its dedication to enhancing the National Flood Insurance Program by securing $575 mn
Cyber Insurtech Coalition announced agreement with Aspen Insurance
Cyber insurtech Coalition has announced a new, multi-year capacity agreement with Aspen Specialty Insurance Company (Aspen)
UK Financial Conduct Authority commited to intensify efforts against crypto market
Financial Conduct Authority of the United Kingdom has outlined its commitment to intensify efforts against crypto market abuse within the cryptocurrency
UNIQA Insurance Group posted premium growth to EUR 7.2 bn
UNIQA Insurance Group posted premium growth to EUR 7.18 bn (+9.7%) while earnings before taxes exceeded expectations at EUR 426.4 mn
Lloyd’s with Bermuda Monetary Authority will sharing risk expertise
Lloyd’s along with the Bermuda Monetary Authority, have committed to jointly developing an initiative for closer collaboration
Lloyd’s reports results: premium increased by 11.6% to £52 bn
Reinsurance marketplace Lloyd’s of London announced its financial performance for 2023 year, alongside guidance for the full-year 2024 expectations
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