What is Lloyd’s of London exposure to Credit Suisse & Silicon Valley Bank?
Lloyd’s of London has confirmed that it has limited exposure to the banking crisis spurred by the collapse of Silicon Valley Bank and the takeover of Credit Suisse
News
Zurich and Ping An Insurance Group experiments with ChatGPT
The insurer Zurich is investigating applications of AI such as extracting data from claims descriptions and other documents
Munich Re combines risk assessment and e-application solution with insurtech PSG
Munich Re Life US announced a new combined risk assessment and e-application solution with insurtech Paperless Solutions Group (PSG)
Leading US life insurers experienced a drop in incomes & revenues
Most of the leading US life insurers experienced a year-over-year drop in total revenues in the fourth quarter of 2022
Lloyd’s of London financial performance: premium increased by over 19% to £46bn
Lloyd’s of London, the leading marketplace for commercial, corporate and specialty risk solutions, today provided a trading update for its 2022 financial performance
Insurtech Kin Insurance secured $109 mn in Series D funding
Home insurtech Kin has conducted a third close, an incremental $15 million, to its Series D round in the fourth quarter of 2022
Insurtech Coalition released the framework Active Cyber Risk Model
Cyber Insurtech Coalition released the Active Cyber Risk Model, a practical framework for understanding cyber risk aggregation that provides an ongoing view
Insurtech Cover Whale partnered with SaaS AI-provider Netradyne
Cover Whale Insurance Solutions, a commercial trucking insurance provider and fast-growing insurtech announced its partnership with Netradyne
Insurtech Joyn addes of Brian Duperreault to board as an independent director
Insurtech Joyn Insurance announced the addition of Brian Duperreault to its board as an independent director, adding decades of insurance industry experience
New estimate of the insured loss from Earthquake in Türkiye & Syria by PERILS
PERILS disclosed its initial industry loss estimate for the Kahramanmaras Earthquake which widespread devastation across several regions of Türkiye and Syria
Insurtech Fuse achieved more than 150 mn insurance policies
Indonesian insurtech Fuse, a ISO certified mobile technology platform, has achieved more than 150 mn insurance policies in 2022
Moody’s affirms Marsh & McLennan ratings at Baa1
Moody’s said MMC’s ratings reflect its position as the world’s largest insurance brokerage and consulting firm by revenue
Moody’s upgrades NN Insurance Group’s long-term issuer rating to A3
Moody’s Investors Service has upgraded NN Group N.V.’s (“NN”) long-term (LT) issuer rating to A3 from Baa1
Insurtech Relativity6 launches of tool Hazard Flags uses ML to detect risks in insurance
Boston-based insurtech Relativity6 has announced the launch of its latest tool, Hazard Flags. New tool uses machine learning algorithms to detect potential risks
Federal Deposit Insurance Corp purchases all deposits of Signature Bridge Bank
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for substantially all deposits and certain loan portfolios of Signature Bridge Bank
Downsizer raises $2.5 mn seed capital to develope proptech & insurtech SaaS platform
Australian insurtech startup Downsizer has raised A$3.75 mn ($2.5 mn) seed capital to accelerate the growth of its unique SaaS platform operating at the intersections
Insurtech PetSure granted a standalone general insurance licence in Australia
Hollard-owned insurtech PetSure has been granted a standalone general insurance licence by the Australian Prudential Regulation Authority (APRA)
Eurohold launched legal action against the Romanian regulator ASF for insurer Euroins Romania
With reference to decision of the Romanian financial regulator ASF for Euroins Romania, part of Euroins Insurance Group AD – revocation of the licence for insurance activity
Typhoon Nanmadol’s insurance industry loss estimated of $1 bn
PERILS, the provider industry-wide catastrophe insurance data, disclosed its third industry loss estimate for Typhoon No. 14
Insurtech Hourly, a workers’ comp & payroll startup, expanded Series A financing to $32 mn
Insurtech Hourly expanded Series A financing from raised $27 million to $32 million led by Glilot Capital Partners through its early growth fund, Glilot+
New Zealand insurance market loss for the floods estimates up to $1 bn
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has disclosed its initial industry loss estimate for the floods
Vienna Insurance Group results for 2022: premium rises to €12.6 bn
Vienna Insurance Group (VIG) has announced its preliminary results for 2022, which includes a total premium volume of €12.6 billion
Esusu Financial and Insurtech Sure provides tenants with renter’s insurance
Insurtech Sure and Esusu Financial are collaborating to provide tenants with renter’s insurance through the Esusu Renters Marketplace.
Insurtech Cover Genius acquires embedded warranty provider, Clyde Tech
Cover Genius, the insurtech for embedded protection, has completed an asset acquisition agreement with US-based embedded warranty provider, Clyde Technologies
Insurtechs Clearcover and Cowbell held $76 mn deposits at Silicon Valley Bank
The carrier subsidiaries of two U.S. insurtech companies had substantial majorities of their liquid assets on deposit in accounts at the troubled Silicon Valley Bank
UK-based insurtech Azur Group is selling technology services business
UK-based insurtech Azur Group has agreed to sell its technology services business to its senior managers, backed by prominent angel investors
India’s Bandhan Group plans to foray into the insurance business
India’s Bandhan Group, which mainly has banking, mutual fund and microfinance operations, plans to foray into the insurance business, first through general insurance
Insurtech Assured Allies secured a $42.5 mn Series B funding round
Assured Allies, the insurtech company for evidence-based successful aging, has closed a $42.5 million Series B funding round, bringing the total capital raised to $65 million
Cyber insurtech Coalition will enter the UK excess cyber insurance market
Cyber MGA insurtech Coalition has announced it will enter the excess cyber insurance market in the UK to help protect businesses with enhanced coverage
Swiss Re, ICEYE and Guy Carpenter tests a parametric flood insurance for New York
Swiss Re Corporate Solutions, ICEYE and Guy Carpenter are participating in a parametric pilot program to protect low-income communities in New York City from flooding
MGA Nirvana launches in UK & targets media, technology & cyber liability insurance
Nirvana, a London-based managing general agent, has launched in London after acquiring leading media, tech and cyber underwriter, Nirvana Risk Partners
Estonian insurance market totaled EUR 550.90 million in terms of GWP
Estonian insurance market totaled EUR 550.90 million in terms of GWP, up by 13.26% y-o-y, according to FY2022 market figures published by the Estonian National Statistics
National Association of Insurers of Ukraine joins Insurance Europe as associate member
The National Association of Insurers of Ukraine (NAIU) has joined Insurance Europe as an associate member, the European insurers’ federation announced
Hannover Re Group increased net income to the record level
Hannover Re increased its Group net income by 14.2% in the 2022 financial year to the record level of EUR 1.41 billion (previous year: EUR 1.23 billion)
LexisNexis Risk Solutions enhanced its home insurance AI solution
LexisNexis Risk Solutions has enhanced its home insurance AI solution to expedite and improve the home insurance underwriting process
German insurers’ non-life underwriting profitability will weaken
German public-sector insurers’ non-life underwriting profitability will likely weaken in 2023, driven by higher reinsurance prices and claims inflation
Allianz Group creates of global commercial insurance & changes to the AGCS Board
Allianz Group has announced the creation of Allianz Commercial, a global commercial insurance segment encompassing its AGCS business serving large corporate clients
Monnai secured $6.5mn a Series A funding to promote first AI-driven decisioning to FinTechs
Monnai, a provider of a consumer insights platform for financial organizations, has announced a series A funding round of $6.5 million
US property & casualty reinsurers increased net premiums written to $81 bn
Data from 17 reinsurers shows an 8.6% increase in net premiums written by US property and casualty (P&C) reinsurers over 2022
PERILS estimates of AUD 6.5 bn for the devastating floods loss Eastern Australia
Catastrophe loss aggregator PERILS has released a final industry loss estimate of AUD 6.53 bn, for the devastating Eastern Australia floods that occurred over February
Personal Auto & Property Insurance premiums in Canada increased year by year
Average premiums for Personal Auto and Property insurance lines increased in Canada year over year in the fourth quarter of 2022
Truist Insurance Holdings stake sale portends more M&A or IPO
Truist Financial Corp.’s sale of a minority stake in its insurance arm has left the Street wondering what move the company will make next
Apollo will provide re/insurance capacity to Moonrock Drone Insurance
Independent specialist insurer and reinsurer Apollo has started a new drone insurance facility in partnership with Moonrock Drone Insurance
Life360 exposure from SVB to be up to $5.6 mn, with no significant disruption to operations
San Francisco area-based Life360 is evaluating the impact of Silicon Valley Bank being closed on March 10, 2023 by the California Department of Financial Protection and Innovation
FED creates a backstop for uninsured deposits at Silicon Valley Bank, using Federal Deposit Insurance Act
Financial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank if no buyer materializes
Telematics Insurtech Flock raises $38 mn in series B led by Octopus Ventures
Flock, the London-based insurtech using real-time data to enable and incentivise safer driving, announces it has raised $38 mn in series B funding
Insurance Europe responded to methodology for cyber stress testing for insurers
Insurance Europe has responded to a discussion paper by the European Insurance and EIOPA on methodologies for cyber stress testing for insurers
Insurtech CyberSmart raised 12.8 mn pounds in a Series B round
Insurtech CyberSmart — which provides cybersecurity solutions for small- to medium-sized businesses (SMBs) — has raised 12.75 mn pounds ($15 mn) in a Series B round
Insurtech Vortex launches supplemental hurricane insurance for the U.S.
Vortex Insurance, an parametric weather insurtech, announced the launch of an innovative insurance program allowing the purchase of supplemental hurricane insurance
Natural catastrophe insured losses in Q1 2023 so far are in the region of $6-8 bn
JP Morgan have estimated that total natural catastrophe insured losses in Q1 2023 so far are in the region of $6-8 bn
Ariel Re secured $270 mn in capital into the Lloyd’s market
Ariel Re, a global reinsurance firm with offices in Bermuda, London and Hong Kong, has announced that it has secured $270 million in capital from five new institutional
AXA XL offers contract review benchmarking for Construction insurance
To help their contractor clients improve their contract management and negotiation practices, AXA XL and Document Crunch have teamed up to launch a Contract Review
Global insurance M&A activity saw a 10-year high
Global insurance mergers and acquisitions (M&A) activity saw a 10-year high in 2022, though a marked downturn in H2 as economic pressures began to impact investor
CyberCube launches of Prep Module, a SaaS solution for nsurance brokers
Cyber risk analytics provider CyberCube has announced the launch of Prep Module Version 1.0, an add-on module of Broking Manager
Swiss Re partners with J.P. Morgan to secure $700 mn ILS protection
Swiss Re has successfully closed a multi-year stop-loss transaction with funding led by J.P. Morgan. The deal provides Swiss Re with USD 700 million in underwriting protection
Turtlefin acquired Bengaluru-based SaaS insurtech Last Decimal
Turtlemint’s B2B vertical Turtlefin has acquired insurtech SaaS startup Last Decimal for an undisclosed amount. Bengaluru-based Last Decimal helps insurance companies
Former insurance executive indicted for $2bn fraud scheme to deceive state Regulators
A federal grand jury in Charlotte returned an indictment charging a North Carolina man with masterminding and directing a massive scheme to deceive state insurance regulators
Insurtech Veridion secured $6mn to deepen AI comprehension of the business landscape
Bucharest-based insurtech Veridion (formerly known as Soleadify) announces a $6 million late seed round to expand to the US and further develop their proprietary AI
2023 U.S. Title Insurance Industry outlook switched to negative
AM Best has revised its market segment outlook on the U.S. title insurance industry to negative from stable, owing to significant decline in home sales and refinancing activity
Insurtech Lemonade shared Q4 2022 results: premium reached $625 mn, a 64% increase
Insurtech Lemonade has released its fourth quarter and full year 2022 financial results by posting them to its website
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