Cybersecurity startup Descope raised $53 mn in Seed funding led by Lightspeed Venture
Cybersecurity startup Descope announced that it has raised $53 million in Seed funding and launched its new authentication platform
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Israeli insurtech OpenEyes raised $18 mn in Series A funding led by Insight Partners
OpenEyes, an Israeli insurtech startup targeting commercial automotive fleets, has emerged from stealth with $18 mn in Series A funding led by Insight Partners
Insurtech Goose Insurance sequred $4 mn Series A funding led by Axis Insurance
Vancouver-based Insurtech Goose Insurance closed a $4 million Series A funding round led by Axis Insurance Managers, with participation from Impression Ventures
Security deposit insurtech Rhino is exploring $40mn fundraising round
Security deposit alternative insurtech Rhino is exploring $40mn fundraising round in what could end up being a massive down round compared to the ~$500mn valuation
How to Start With A Strong Financial Plan
Outlining a strategy to improve one’s financial health as the new year begins is an excellent first step toward a more prosperous 2023
Re/Insurers are waiting for answers on whether new price cap on Russian refined product export
The insurance industry is waiting for answers on whether the new price cap on Russian refined product exports will be applied to delivered bunker fuel
Flood insurtech reThought raised $10.5 mn in a Series B funding round
Flood insurtech reThought Insurance has raised $10.5 million in a Series B funding round led by InsurTech venture capital firm IA Capital Group
Insurer Saga talks with AI-insurtech Open about sale of Acromas underwriting
UK insurer Saga is in talks with Sydney-based insurtech Open Insurance – best-known for its artificial intelligence-driven brand Huddle – about the sale
Kotak Mahindra Bank is considering selling a Kotak General Insurance
Kotak Mahindra Bank, backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit
Insurance industry in Bangladesh is grappling with a major crisis with unpaid to reinsurers
The insurance industry in Bangladesh is grappling with a major crisis as a shortage of US dollars has made it difficult for local insurers to make premium payments
Andrew Brooks takes up the Deputy Chair of the Council of Lloyd’s
Lloyd’s, a leading marketplace for commercial, corporate and specialty risk solutions, is pleased to announce Andrew Brooks as the new Deputy Chair of the Council of Lloyd’s
Insurtech startup Branch launches condo insurance
Branch Insurance, a full-stack insurtech company, has launched condo insurance, expanding its array of instantly bindable insurance products
Insurance losses of earthquakes in Turkey & Syria will be in the $5 bn, economic losses $10 bn
Insurance losses relating to the series of earthquakes in Turkey and Syria are expected to be in the billions of dollars
Insurtech io:insure – a digital M&A insurance marketplace for SME launched in the UK
M&A tech and InsurTech firm io.insure, which claims to be the world’s first online mergers and acquisitions (M&A) insurance marketplace for SME transactions
Creditworthiness of Japan’s insurers will likely remain stable
With inflation and its consequences roiling global financial markets, preparations for tougher times by Japan’s insurers are looking to have paid off
SaaS-Insurtech Socotra a 71% increases in revenue for 2022
Insurtech Socotra has reported robust 2022 results, with 71% increase in revenue and a 75% growth in customers
Qonto tapped insurtech Qover to simplify embedded insurance for cardholders
Business finance solution Qonto is using insurtech Qover to simplify and overhaul its embedded insurance programme for cardholders.
Global re/insurance broker AON launches of a CyFi – digital cyber insurance for SME
Global re/insurance broker Aon, a leading provider a broad range of risk, retirement & health solutions, launches of a CyFi – digital insurance solution
MIM, an investment arm of insurance giant Metlife, acquires Raven Capital Management
The investment arm of insurance giant Metlife had agreed to acquire Raven Capital Management, a U.S. private credit manager with $2.1 bn in assets under management
Crypto asset protection insurtech Coincover raises $30 mn led by Foundation Capital
Coincover, a Cardiff, UK-based crypto digital asset protection company, has raised $30 million in funding led by Foundation Capital to protect people and their digital assets
Global re/insurance broker WTW reported 4% revenue growth for 2022 to $8.9 bn
Business finance solution Qonto is using insurtech Qover to simplify and overhaul its embedded insurance programme for cardholders.
Insurtech Vertical Insure raised $6mn in seed round led by reinsurer Greenlight Re
Embedded insurtech startup Vertical Insure has secured a $2mn extension to its seed funding round. Startup is embedded insurance platform built for vertical SaaS
GlobalData predicts gig economy insurance market growth
The market for gig economy insurance is set to grow amid continuing cost-of-living pressures, according to GlobalData survey
Insurtech Angle Health secured $58mn of Series A funding led by Portage
Insurtech Angle Health Insurance has announced the completion of its Series A funding round, which raised $58mn led by Portage, a global investment platform
Fitch Ratings’ Outlook for UK Life Insurance
Neutral Sector Outlook Fitch Ratings’ sector outlook for the UK life insurance market is ‘neutral’ relative to actual fundamentals
French Insurance Market Outlook by Fitch Ratings
The ‘neutral’ outlook for the French life insurance sector reflects Fitch Ratings’ view that the fundamentals will be resilient in 2023
New challenge for Central American Insurance Market in 2023
Significant macroeconomic conditions in Central America will continue to challenge the operating environment and industry growth for the Central American insurance market
Neutral outlook for the German life insurance sector
The neutral outlook for the German life insurance sector reflects Fitch Ratings’ expectation of a mixed operating environment, with improving investment yields
Cyber insurtech BOXX Insurance raised $14.4mn in Series B funding
Toronto-headquartered Cyber insurtech BOXX Insurance has raised $14.4mn in Series B funding round led by insurance giant Zurich
BlackRock, disclosed a position in Silvergate Capital, crypto banker
The world’s largest asset manager, BlackRock, disclosed a significant position in Silvergate Capital, the beaten-down banker to the cryptocurrency industry
Cyber insurtech Baobab raised €3mn from venture fund Augmentum Fintech
Berlin-based cyber insurtech Baobab has raised €3mn from fintech venture capital fund Augmentum to offer cyber insurance to small and medium-sized enterprises (SMEs).
Zurich is opening Innovation Championship for insurtech startups
Zurich Insurance is on the prowl for innovative insurance-related startups as part of its fourth annual startup competition, Zurich Innovation Championship.
Allianz with Bridgestone EMIA to co-create new offers – tires insurance
Allianz Partners is working with tire manufacturer Bridgestone EMIA to co-create new offers and services around each partner’s key areas of expertise
Israeli startup Guardz sequred $10 mn led by Hanaco Ventures
Israeli cybersecurity startup Guardz has emerged from stealth with $10 million in backing from Hanaco Ventures, iAngels, GKFF Ventures, and Cyverse Capital.
Cyber cloud data startup Sentra completed of a $30 mn Series A funding
Sentra, a cloud data security company, announced the completion of a $30 million Series A funding round led by Standard Investments, with participation from Munich Re Ventures
Fed issued guidance with implications for US banks with respect to cryptoasset
Federal Reserve Board issued guidance with important implications for banks in the US with respect to cryptoasset activities.
FCA warns blockchain and cryptoasset firms about financial promotion obligations
Financial Conduct Authority (FCA) has now published an update reminding cryptoasset firms to prepare for the changes
Global credit insurer Coface acquired a big data provider Rel8ed Analytics
Global credit insurer Coface is acquiring Rel8ed Analytics. Founded in 2015, Rel8ed is a Canadian company offering predictive analytics, public data, and big data analysis
Insurtech Wefox begun shrinking workforce of around 1,400 employees
According to a report by Süddeutsche Zeitung, Berlin-based digital insurtech wefox has begun shrinking its workforce of around 1,400 employees
Ukrainian insurtech «hotline.finance» shows enormous growth on the market hitted by the War
hotline.finance changed focus from implementing e-commerce and marketing tools to adding new products and new insurance companies to the platform
Pet insurtech Fluffy closed a $450k pre-seed round led by QVentures
Pet care insurtech startup Fluffy has closed a $450k pre-seed round led by QVentures and Techstars
Munich Re launched Reflex, a proactive cyber risk management program
Munich Re Specialty Insurance has launched Reflex, a proactive cyber risk management program offering complimentary risk control services
Tractable helps Verisk accelerate insurance claims processing & home repairs
Verisk, a global data analytics provider, is expanding its claims ecosystem by teaming up with Tractable, applied AI company. By integrating with Tractable
WTW launches new Lloyd’s excess layer cyber facility, called CyXS
WTW has launched an excess layer cyber facility, called CyXS, which is available to WTW clients globally who purchase excess layer cyber programmes
Hannover Re generated a net income of €1.4 bn, gross written premium of €33.3 bn
Hannover Re generated a Group net income of €1.41 billion (previous year: €1.23 billion) in the 2022 financial year based on preliminary, unaudited key figures
Swiss Re`s Reinsurance Business Unit will be split into P&C Re and L&H Re
Swiss Re announced plans to streamline its organisational structure. The reorganisation, which aims to simplify structures, improve efficiency and client experience
WTW introduced ESG Clarified – analytical solutions suite through RiskIQ
WTW, a global advisory, broking and solutions company, introduced ESG Clarified, an analytics platform generating new insights to help organizations better understand
Essent Group purchases the title insurance business Incenter for $100 mn
Essent Group agreed to purchase the title insurance subsidiaries of Finance of America’s Incenter business for $100 mn, the latest company looking to find synergies
US P&C insurer Westfield Specialty acquires of Lloyd’s Syndicate 1200
US P&C insurer Westfield Specialty has announced the completion of its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings.
Powerful earthquakes in Turkey & Syria could result in $1 bn of losses & 2,600 people killed
A huge earthquake killed more than 2,600 people across a swathe of Turkey and northwest Syria on Monday, with freezing winter weather adding to the plight
McKinsey acquires AI and machine-learning tech company Iguazio
McKinsey acquires Iguazio, a leader in AI and machine-learning technology. With the addition of Iguazio’s technology and a team of more than 70 data and AI experts
Insurtech Candid with iptiQ entered into a distribution partnership in UK life insurance
UK-based insurtech Candid (part of the Clark Group of companies) and Swiss Re’s iptiQ join forces to provide affordable and accessible life insurance solutions to UK
Losses pressures U.S. P&C Insurers needing to service financial obligations
A confluence of factors, including rising interest rates, increased unrealized losses and declines in capital has led to leverage ratios ticking up among U.S. property & casualty
Trade credit insurers are expected to report strong results, despite the war in Ukraine
Despite the Russia-Ukraine war, trade credit insurers are expected to report strong results for 2022, according to analysts at insurance credit rating agency AM Best
Lloyds Banking Group has invested £4 mn in insurtech Caura – UK motoring app
Lloyds Banking Group has invested £4 million in Caura, an award-winning all-in-one motoring app designed to take the hassle out of car ownership
Nat Cat losses and volatility made property cat exposures a less favourable play for reinsurers
The reinsurance segment has been generating return-on-equity ratios of approximately 4-5%, in a market where the cost of capital is at least twice that
Insurtech Betterview has completed a new round of funding led by existing investors
Insurtech Betterview has completed a new round of funding of undisclosed amount led by existing investors EMC Insurance, Guidewire Software, Nationwide, MaidenRE
Insurer Nippon Life invested an additional commitment of $1 bn in Resolution Life
Nippon Life Insurance Company has agreed to invest an additional commitment of $1 bn in Resolution Life, a leading global life and annuity insurance consolidation business
SaaS insurtech Eazy Digital secured a seed funding led by Wavemaker Partners
Lloyds Banking Group has invested £4 million in Caura, an award-winning all-in-one motoring app designed to take the hassle out of car ownership
Reinsurance buyers discusses early and explored a wide range of program options
The most difficult conditions during the recent 1 January 2023 renewals were experienced in the property segment, driven by an evident mismatch in demand and supply
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