Fitch Ratings has released the results of reinsurance market survey, which saw 81 re/insurance market participants provide their expectations for the January 2025 reinsurance renewals
Hurricane Helene is in the Gulf of Mexico with maximum sustained winds near 90 mph with higher gusts, and strengthening is expected as it heads towards Florida
Lloyd’s of London has partnered with the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) to increase annual guarantee issuance to $20 bn by 2030
The UK’s Prudential Regulation Authority (PRA) plans to release its final rules on Solvency II in mid-November, with the new requirements for insurance firms and groups taking effect on Dec. 31
The Joint Economic Committee’s Democratic staff estimates that flooding in the U.S. costs between $180 bn and $500 bn annually. These estimates stem from studies on the financial impact of flooding
Storm Boris’s torrential rains and flooding likely caused more than €1.5 bn in insured losses in Central Europe, according to an Aon
The National Association of Insurance Commissioners (NAIC) said that for over a decade, state regulators have concentrated on climate risks and their effects on property insurance markets
Real-world asset (RWA) platform Re offering tokenized reinsurance, has launched its first open-ended reinsurance fund on the Avalanche (AVAX) network
CLARA Analytics announced that Risk Administration Services will leverage its technology to enhance its claims processes
AI-Insurtech Roots Automation has raised $22.2 mn in a Series B funding round led by Harbert Growth Partners, with additional support from MissionOG, Liberty Mutual
Functional Finance, a insurance software platform for managing general agents (MGA), insurers, and wholesalers, has raised a $20 mn Series A funding round led by Walkabout Ventures
Allianz Partners USA unveiled their new Universal Claims Portal which includes a mobile-friendly design dedicated to helping customers easily get through the travel insurance claims process
BlackCloak, a cybersecurity insurtech specializing in protecting executives, high-net-worth individuals, and family offices, has announced a $17 mn Series B funding
wefox has announced that Joachim Müller will take over as CEO effective immediately. Mark Hartigan, who has been serving as both Chairman of the Board
US banks saw a 20% rise in high-volatility commercial real estate loans in Q2 2024, following a four-year low in the previous quarter
FinTech companies are increasingly looking into the possibility of getting bank charters, though few have actually taken the plunge
Enstar Group has entered into a definitive merger agreement under which Sixth Street will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co.
Boston-based Insurtech Ledgebrook has secured of a $17 mn in Series B funding round. This opportunistic raise introduces two esteemed Family Offices to the Ledgebrook cap table
French embedded insurtech NEAT Protect raised €50mn in Series A funding, led by Hedosophia, with support from Mundi Ventures, ETFS Capital
Policy Expert, a home and motor insurtech, has secured new backing from international private equity firm Cinven to fuel its expansion plans
Lloyd’s plans to update its framework for for dealing with poor conduct & behaviors, addressing both financial and nonfinancial issues in the market
Hailstones the size of chicken eggs led to an estimated $2.1 bn (C$2.8 bn) in insured losses from a severe storm in Calgary, Alberta, on August 5, according to the Insurance Bureau of Canada
Data from the International Underwriting Association (IUA) shows a 25% rise in London company reinsurance treaty premiums over the past year, reaching £11 bn
The Florida Office of Insurance Regulation has approved requests from eight carriers to take over 232,535 personal residential multiperil policies and 2,500 residential
Sentry Insurance announced its agreement to acquire The General from American Family Insurance for $1.7bn. The deal includes $1.1bn in cash, plus assumed liabilities and required capital
After overcoming the initial shock and adapting to operating under wartime conditions, Ukrainian businesses are gradually resuming activities
The Social Security Administration (SSA) will issue double payments averaging $1,394. Here’s what you need to know about these upcoming disbursements
Social Security administers disability benefits through two programs: the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSI) program
Insurtech Akur8, a machine learning-based insurance pricing solutions, has acquired Arius, a P&C reserving software
Health insurtech Nirvana, specialising in insurance verification and eligibility with machine learning and artificial intelligence, has sequred $24.2 mn Series A funding
Coalition has set up its reinsurance intermediary, Coalition Re, to offer capacity for non-proportional cyber reinsurance treaties along with a white-labelled cyber insurance
A Texas court reached a split decision in a dispute between an AIG unit and RealPage over the allocation of recovered funds from a phishing attack
Lawyers for American International Group are asking a judge to reject a request from Dellwood Insurance Group to dismiss the lawsuit against the company
CoreLogic estimated Hurricane Francine insured wind and storm surge losses to be up to $1.5 bn. Losses include damage to buildings, contents, and business interruption
Tropical Storm Francine, hitting Louisiana, may cause over $1 bn in private insured losses, according to Gallagher Re, highlighted that a hurricane’s path significantly impacts
Florida reported $121.5mn in estimated insured losses from Hurricane Debby, with 59.6% of claims closed, according to the Office of Insurance Regulation
The American Transit Insurance Co., New York’s largest insurer of taxi cabs, is insolvent by approximately $665 mn and must consider all options for recapitalization
Moody’s has acquired of Praedicat, a provider of casualty insurance analytics. This move strengthens Moody’s risk assessment offerings by adding casualty and liability modeling
Connect Underwriting Limited, a specialist reinsurance MGA, has launched BRICS UW, a reinsurance MGA focused on emerging markets, pending regulatory approval
Hungarian insurance market experienced about a 5% year-on-year increase in gross written premiums (GWP), reaching €2.2 bn, according to data from MNB
Motor insurers in Poland in the first half of 2024 generated PLN 8.85 bn ($2.1 bn) in premiums, marking a 10.42% increase year-on-year
Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025
Many people know about Social Security Disability Insurance (SSDI) but are less familiar with retirement, survivors, and disability insurance (RSDI)
Korint Insurtech, an emerging digital insurance company, secured €5 mn in a funding round led by venture capital firm Ventech, with continued backing from 360 Capital
The Demex Group, a firm specializing in stop-loss reinsurance protection and risk analytics, raised $10.25 mn through a Series A and previous SAFE funding round
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with Gain Life, a firm focused on improving the claims process
Aon launched its Ultimate Guide to the Reinsurance Renewal – September 2024 report, which contrasts the robust financial results of the reinsurance industry against a backdrop
ICEYE, a satellite-based disaster management provider, announced that Aon has expanded its data licensing agreement. Aon will now include ICEYE’s Flood Insights data
The Social Security Administration (SSA) announced steps to reduce the burden on customers by digitizing or eliminating signature requirements for many forms
Fitch Ratings has changed its outlook for the global reinsurance sector from “improving” to “neutral,” noting that the pricing cycle has likely peaked
Fitch Ratings expect to see more interest and activity in securitised assets from insurers following matching adjustment (MA) reform
Traditional risk management models face significant pressure due to unprecedented natural disasters, geopolitical conflicts, and economic instability
Indian insurtech insuranceDekho has launched Heph, a SaaS platform designed to streamline insurance distribution
Clear Group announced the acquisition of MGA Accelerate Underwriting. This marks Clear Group’s fourth MGA acquisition as it strengthens its underwriting capabilities for brokers
Intermediary Specialist Risk Group (SRG) has acquired Capulus, a Wales-based managing general agent, to enhance its motor fleet capabilities
Lloyd’s of London, a leading global insurance and reinsurance marketplace, reported solid results for the first half of 2024 with a profit before tax of £4.9bn
The federal agency announced that starting in December 2024, the SSI application process will move entirely online through the iClaim platform
The Federal Deposit Insurance Corp. (FDIC) has proposed a rule that may delay investors’ bank share purchases by up to six months, with potential effects on mergers and acquisitions
Cypriot real estate AI-startup Placy sequred €1 mn in pre-seed funding led by Zubr Capital, an European Fund regulated by CySEC, focused on investing in high potential IT companies
Social Security Administration announced that users who set up an online account, such as a my Social Security account must switch to a Login.gov
