Lloyd’s Europe closes branches in Austria, Finland, Poland
Lloyd’s Europe will be closing its branches in Austria, Finland, and Poland following the withdrawal of the freedom of establishment authorisation
News
Lockton Re expands partnership with cyber insurtech CyberCube
Reinsurer Lockton Re is expanding its partnership with cyber risk analytics insurtech CyberCube by licensing CyberCube’s Industry Exposure Databases
AI-powered insurtech CompScience raised $10 mn Series A
AI-powered safety analytics insurtech platform CompScience Insurance Services announced a $10 mn Series A round led by Valor Equity
Data analytics Insurtech Ennabl raised $8 mn in Series A funding
Insurtech data analytics platform Ennabl has announced the completion of its Series A funding, which has raised $8 mn
Insurtech Foxquilt raised $12 mn in Series B funding
North American insurtech Foxquilt, specializing in small business and micro-enterprise markets, has announced a raise of $12 mn in Series B
Insurtechs Insurity & Concirrus digitalizes strategies for marine insurers
Insurity, a insurtech provider of cloud-based software for insurance carriers, brokers, and MGAs, announced a new partnership with Concirrus
BlackRock announced joint venture with billionaire Mukesh Ambani in India
BlackRock and Jio Financial Services announced an equal stakes joint venture to launch asset management services in India. The venture, named Jio BlackRoc
Reinsurer SCOR recorded €3.9 bn revenue, €192 mn net income in Q2 2023
French reinsurer SCOR recorded a P&C combined ratio of 88.5% in the Q2 2023, with group net income of €192m
Howden acquires Swiss aviation insurance broker Hudson Sky
Howden, the global insurance group, has acquired Hudson Sky International, securing briker’s position as a pre-eminent broker in the aviation insurance sector in Switzerland
AI insurtech Vesttoo faces alleged $4 bn fraud
Fraud amounting to billions of dollars has allegedly been uncovered at Israeli unicorn Vesttoo over the past week
Rebekah Clement takes as Lloyd’s Corporate Affairs Director
Lloyd’s has appointed Rebekah Clement as its corporate affairs director, effective immediately
AM Best revised the Lloyd’s Ratings outlooks to positive from stable
Credit Ratings (ratings) reflect Lloyd’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating
Motor insurance industry of Malaysia will grow to $3 bn in 2027
The motor insurance industry of Malaysia is set for notable gains over the next few years, growing to US$3 billion in 2027
AXA deploys AXA Secure GPT – service built on OpenAI Service
AXA announces the deployment of AXA Secure GPT, an internal service built on Microsoft’s Azure OpenAI Service
Aon completed a parametric insurance for Government of Puerto Rico
Aon has announced the completion of a historic parametric insurance program for the Government of Puerto Rico
K4Connect raised $8.9 mn in funding led by AXA Venture
K4Connect, the leading provider of enterprise technologies for senior living communities, has raised $8.9 mn in a new investment round
Platform Modives that automates insurance verification sequred $3 mn
Modives, a life event platform that automates insurance verification for property management & auto dealerships, has raised $3 mn in a seed round of funding
SEC Adopts New Rules on Cybersecurity Risk Management
The Securities and Exchange Commission adopted rules requiring registrants to disclose material cybersecurity incidents they experience
Generali acquires of major asset manager Conning Holdings from Cathay Life
Generali has announced its acquisition of Conning Holdings, a global asset manager for insurance and institutional clients, from Cathay Life
CFTC exposed a digital assets scheme Blessings of God Thru Crypto
The Commodity Futures Trading Commission announced it filed a complaint against Michael and Amanda Griffis of Clarksville
Financial Stability Board published regulatory framework for cryptoasset
The Financial Stability Board (FSB) has published its regulatory framework for cryptoasset activities to promote the global harmonization of regulatory
Unprecedented riots in France hits to date for insurers €700 mn loss
After the start of the unprecedented riots in France, ~12000 insurance claims were reported. The total cost of claims declared to date has hit €650 mn
10 Postulates of Arsenal Insurance’s Success
Ukrainian insurance company Arsenal Insurance assets have grown more than fourfold, bonuses, and, accordingly, out payments have grown by 6.5 times
AGCS and Allianz P&C will be trade as Allianz Commercial
Allianz Global Corporate & Specialty with the insurance business of local Allianz P&C entities will be trade as Allianz Commercial
Florida’s property insurers are taking a cautious approach
Florida’s residential property insurers are taking a cautious approach when estimating how industry reforms passed in late 2022
Allianz Trade introduced a new standalone fraud insurance product in the UK
Allianz Trade, the trade credit insurer, has introduced a new standalone fraud insurance product to assist businesses
AI insurtech Tractable sequred a $65 mn Series E led by SoftBank
Insurtech Tractable, artificial intelligence using computer vision to assess the condition of cars and homes, announces a $65 mn Series E
Swiss Re structured and placed the issuance of $250 mn of ILS
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities
U.S. Financial Innovation & Technology Bill establishes a regulatory framework for crypto
U.S. lawmakers introduced legislation aimed at dispelling a cloud of regulatory uncertainty that looms large in the crypto assets industry
Nasdaq is dropping plans for a crypto custody service
Nasdaq is dropping its plans for a crypto custody service, which was slated to go live in the second quarter of this year
AI insurtech Verikai released of data-driven risk platform
nsurtech Verikai, a provider of predictive analytics and AI-powered solutions for the insurance industry, has released of its platform
Insurers suspensed of a cargo insurance Ukraine’s grain sea shipments
Marsh announced the suspension of a cargo insurance service safeguarding Ukraine’s grain shipments through a secure sea route
Crypto insurtech Evertas acquires crypto mining insurer Bitsure
Evertas, a digital asset insurance provider, has announced the acquisition of Bitsure, a pioneering insurer for crypto mining operations
Global Agricultural Insurance Market will grow to $65.7 bn up to 2030
The global Agricultural Insurance Market is expected to witness significant growth at a CAGR of 7.1% during the forecast period of 2023-2030
Florida’s insurance market experienced difficulties – insurers decreases coverage
Florida’s insurance market has experienced difficulties in recent years, with some private insurers becoming insolvent, and others choosing to halt coverage
How new bills will reshape the Illinois health insurance market?
Two new bills are likely to fundamentally reshape the Illinois health insurance market. The bills aim to increase insurance affordability and access
AXA XL launched the Excess Emissions Insurance
AXA XL, a specialist risk division under the global insurance company AXA, has launched a new product – the Excess Emissions Insurance
Insurtech MyCover raised $1.25 mn in pre-seed funding led by Ventures Platform
Insurtech starup based out of Nigeria, MyCover, has raised $1.25 mn in pre-seed funding led by Pan-African venture capital fund Ventures Platform
Insurtech Cover Genius partnered with AudienceView, entertainment provider
Cover Genius, the insurtech for embedded protection, has partnered with AudienceView, a global leader in ticketing and e-commerce solutions
SME Insurance Survey indicates that the cyber risks increased for 50% enterprises
GlobalData’s UK SME Insurance Survey indicates that almost 50% of medium-sized enterprises are aware that the cyber risks they face have increased
Insurtech Coalition announced cyber and E&O insurance in Quebec
Cyber insurance agent and cyber-security insurtech Coalition announced its cyber insurance and technology errors and omissions (E&O) insurance
$10 bn reinsurance capital will dent re/insurance sector recovery
New reinsurance capital raised under $10bn will unlikely dent the recovery the re/insurance sector has seen in pricing and improvements
French AXA Group discusses strategic options for XL Re
French insurer AXA SA has been discussing strategic options for its XL Re unit, including a possible private sale or stock market listing
Blockchain reinsurer Re partners with VIPR Solutions
Re, the innovative reinsurer employing blockchain, has announced a strategic partnership with VIPR Solutions
White House’s proposal places restrictions on short-term US health insurance
The Biden-Harris Administration is expected to propose a new regulation cracking down on short-term health insurance plans
Rural insurer FMG paid $120 mn in claims relating to Cyclone Gabrielle
Rural insurer FMG has paid out more than $120 million in claims relating to Cyclone Gabrielle. The insurer has settled 43% of the 10,500 claims
Insurance industry adopts real-time payments for B2B transactions
Insurance companies are increasingly embracing real-time payments for business-to-business (B2B) transactions, viewing them as essential to success
London High Court judge combines claims $10 bn for aircraft owners against insurers
Lessors have not received any insurance payments for planes stranded following sanctions on Russia, and are suing insurers across several jurisdictions, including London
Zurich North America brought to market a cyber insurance Concierge
Zurich North America, a cyber risk solutions provider, has brought to market a cyber insurance module aimed specifically at mid-market businesses.
Hackers accessed to American National Insurance and Sun Life’s insurance data
US workers’ compensation direct premiums earned rose 4.3% year over year in the first quarter, and the industry’s overall direct loss ratio deteriorated by 2.3 percentage
Verisk indicates that 45% of risks insured for flooding loss
Verisk, a data analytics provider, has revealed in a recent report that only a small percentage of damage to insured assets caused by the May floods in Italy
Easy Peasy Insurtech launches pay-per-mile insurance Easy Katka
Easy Peasy Insurtech is the first insurance startup in Ukraine that offers a revolutionary Pay-as-You-Drive car insurance product “Easy Katka”
Insurtech Reask raised $6.6 mn funding led by Mastry Ventures
Reask, the risk data company applying artificial intelligence (AI) to interpret and forecast global extreme weather conditions, has raised a total of $6.55 mn
Net-Zero Insurance Alliance eliminated all requirements for Insurers
The Net-Zero Insurance Alliance (NZIA) has eliminated all requirements for its members to establish and disclose targets for reducing greenhouse gas emissions
Insurtech Steadily sequred $28.5 mn in a Series B funding led by Zigg Capital
The Austin-based insurtech Steadily has raised $28.5 mn in a new round of funding Series B led by Zigg Capital
Sync1 Systems integrates Zest AI’s automated credit underwriting
Sync1 Systems, a cloud-based Loan Origination System, will integrate AI-automated credit underwriting into their LOS through Zest AI’s technology
Finregulators warns insurers for promoting cancer insurance after Fukushima disaster
Financial Supervisory Service of South Korea warns to certain insurers in the country for promoting insurance sales based on the Fukushima nuclear disaster
MetLife makes new leadership appointments in MetLife Investment and MetLife Holdings
MetLife has announced that Steven J. Goulart, Chief Investment Officer and President of MetLife Investment Management
Hong Kong insurtech OneDegree secured an additional $27 mn in Series B
Hong Kong-based digital insurtech OneDegree has secured an additional $27 mn in Series B funding, taking the total for this round to $55mn
Insurtech Bdeo raised an additional €7.5 mn to accelerate its international expansion
Insurtech Bdeo has raised an additional €7.5 mn to accelerate its international expansion and strengthen its position across Europe and Latin America
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