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
News
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
Insurtech Root shared Q4 2022 results: premium 23% decrease to $122 mn
Insurtech Root continues to see opportunities to increase new writings from Carvana, as well as scale the platform to new partners
Malaysia’s Insurtech PolicyStreet received license for operate in Australia
Insurtech PolicyStreet has received the green light to operate in Australia by obtaining the Australian Financial Services License
Insurtech Kanguro launches pet insurance in Florida
Pet insurance startup Kanguro launched in 2021 as the only InsurTech offering an end-to-end customer experience that is 100% bilingual and 100% digital
Insurtech Kita secured £4mn led by Octopus Ventures to combating climate change
UK-insurtech Kita, focused on reducing the risks associated with carbon purchases, has secured a £4mn funding round
UNIQA Insurance Group improved 2022 consolidated earnings to EUR 425 mn
Austrian UNIQA expects significantly improved consolidated earnings before taxes for the financial year 2022 in the range of EUR 420 million to EUR 425 million
National Association of Insurance Commissioners announces Regulatory Priorities
National Association of Insurance Commissioners (NAIC) announced its strategic priorities for 2023. Each year, NAIC Members finalize the priorities
Reinsurance group Africa Specialty Risks approved as a coverholder at Lloyd’s
Pan-African focused reinsurance group Africa Specialty Risks has approved as a coverholder at Lloyd’s. Atrium, a Managing Agent at Lloyd’s, sponsored ASR
Expected credit losses at U.S. banks increased for Q4 2022 to $20.4 bn
Provisions for expected credit losses at U.S. banks increased for the seventh consecutive quarter in the last quarter of 2022, reaching $20.37 billion during the period
QBE Insurance Group announced 2022 net profit of $770mn, premium $20 bn
QBE Insurance Group has announced its 2022 (FY22) statutory net profit after tax of $770mn, compared with $750mn in FY21
Brazil Insurance Market in 2023. Top 25 Life & Non-Life Insurers
Brazilian Insurance Industry premiums continued with a double-digit growth trajectory in 2022, with an increase of 16.2% versus 12% in 2021
Middle Eastern insurance market: Fitch Ratings Outlook
Middle Eastern insurers’ company profiles are heavily influenced by the regional industry profile and operating environment (IPOE) ranges
Coalition expanses of cybersecurity insurance for US large enterprise businesses
Cyber insurtech Coalition has announced the expansion of its cybersecurity insurance offering in the US to large enterprise businesses with revenues up to $5 bn
Insurtech Kirontech tackles fraud & waste in medtech & scaling strategy
Medtech and insurtech company Kirontech, has announced the launch of its growth capital fundraise to help accelerate its goal of fixing the $1.2 bn problem
What Insurer Riders Should I Consider for My Property?
A basic home policy covers the loss or theft of possessions, property’s interior and exterior, and personal liability for harm to others
Chinese Reform of Health Insurance will help urban employees and retirees
Chinese localities are implementing a reform of health insurance for urban employees and retirees, drawing widespread attention
Global InsurTech Market to garner $160 bn by 2030 at 32.7% CAGR
Global insurtech industry was pegged at $16 billion in 2022, and is estimated to generate $160 billion by 2030, growing at a CAGR of 32.7%
Indian insurtech InsuranceDekho raised $150 mn in Series A funding
Indian insurtech InsuranceDekho has raised $150 mn in Series A funding consisting of a mix of equity and debt, in the largest ever series A round by an Indian Insurtech
SaaS insurtech Zylo secured an additional $5 mn in Series C funding
SaaS insurtech Zylo has secured an additional $5 mn in Series C funding from MassMutual Ventures and celebrates key milestones from 2022
A new Florida law have potential to reduce cost of homeowners insurance
A new Florida law and proposals have the potential to reduce the cost of homeowners insurance in the state, according to the Insurance Information Institute
How inflation affects U.S. auto and home insurance premium rates?
U.S. auto and homeowners insurance premium rates lagged behind the inflation rate in 2020 and 2021, laying the groundwork for the premium increases
Combined ratio for the property & casualty insurance is forecast to be 106%
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 105.8%, a worsening of 6.3 points from 2021
Global average total cost of a data breach growth up to $4.88 mn
In the first half of 2025, there were approximately 1,732 publicly reported data breaches in the United States, an increase of 11% compared to the same period in 2024
Job Trends in the European Insurance Sector 2023
The number of active job postings in the Insurance sector of the Europe region increased by 13.8% MoM, and increased by 29.4% since December 2022
Trends at Europe’s largest insurers illustrate an upward movement in insurance pricing
Trends at Europe’s largest insurance companies illustrate an upward movement in commercial insurance pricing which is set to continue, albeit at a slower pace
B2B2C insurtech Roadzen mergers with Vahanna Tech Edge Acquisition
Insurtech Roadzen has plans to become a publicly traded company in the US via merger with Vahanna Tech Edge Acquisition in a blank-check vehicle in a deal valued $965mn
Lawyers sequred award in legal fees in $2.7 bn Blue Cross health insurance antitrust case
A group of plaintiffs’ lawyers has asked a U.S. appeals court to uphold what it called a “historic” $2.7 billion health insurance antitrust settlement
Insurtech Kin finished 2022 with $228 mn in gross premium (+117%)
Kin, the direct-to-consumer home insurtech, announced select preliminary operating results through the fourth quarter ended 2022
Allianz reports record operating profit, targets 2023 profit of 14.2 bn euro
Allianz reports record operating profit. Total revenues increased 2.8 percent to 152.7 (12M 2021: 148.5) billion euros
Swiss Re targets a net income of $3 bn for 2023
Swiss Re reported a net income of USD 472 million for 2022, with a net income of USD 757 million in the fourth quarter. Based on Swiss Re’s very strong capital position
Fairfax Financial Holdings announces 2022 net earnings of $1.1 bn
Fairfax Financial Holdings announces fiscal year 2022 net earnings of $1,147.2 million ($43.49 net earnings per diluted share after payment of preferred share dividends)
Net-Zero Insurance Alliance launched the first Target-Setting Protocol
United Nations-convened Net-Zero Insurance Alliance launched the first Target-Setting Protocol at the World Economic Forum’s Annual Meeting
Reinsurers pull back cat reinsurance coverage, cat bonds & ILS instruments
Following multiple years of large catastrophe losses, reinsurers are raising prices and pulling back cat reinsurance coverage
Total insured losses from Turkey Earthquake estimated $2.4 bn, property losses $20 bn
Total property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion, with the M7.8 earthquake accounting for the bulk of those losses
Digital assets are a threat to the safety of the banking industry
Digital assets are a threat to the safety and soundness of the banking industry, and banks should proceed with caution
South African insurtech Naked Insurance raised $17 mn in Series B funding led by IFC
South African insurtech Naked Insurance has raised $17 million in Series B funding led by the International Finance Corporation (IFC)
Blockchain cybersecurity platform Ironblocks raised $7 million in Seed round
Ironblocks, a blockchain-native cybersecurity platform, has announced that it has raised $7 million in Seed round co-led by Collider Ventures and Disruptive AI
As insurers worldwide look for ways to modernize operations and enhance client experiences, blockchain offers a compelling solution to long-standing challenges
Blockchain and cryptocurrency are two terms that have become inseparable, yet they are not the same thing. Blockchain is the technology. Cryptocurrency is the application of that technology
Tokenization, a blockchain-based technology, offers immediate value in these areas. It allows digital representation of asset ownership—whether stocks, bonds, cash, cryptocurrency, data sets
Regulation and taxation of crypto assets in Ukraine, impact on GDP and tax revenues, and the shadowing factor as the main driver of efficiency growth in the industry