Bupa adoptes insurtech SaaS platform CoverGo as new health insurance system
Bupa (Asia), a health insurance specialist, and CoverGo, the leading global no-code insurtech SaaS platform for health, P&C, and life, are joining forces
News
Insurers may change insurance rates depending on a policyholder’s vaccination status
Study has found a strong correlation between drivers who have passed on taking vaccinations on COVID-19 and higher vehicle collision risk levels
Health & Longevity insurers Fountain Life raises $15 mn led by Eos Venture
Fountain Life, a preventative health and longevity company, closed a $15 million funding round led by Eos Venture Partners
Digital experiences of P&C insurance customers throughout the claims process
The ongoing digital transformation of the property and casualty (P&C) insurance industry has hit some speedbumps when it comes to customer satisfaction
Reinsurance pricing in 2023 continues to be an important topic
Reinsurance pricing continues to be an important topic suggesting 50%+ property cat price increases in the US are a real possibility with the potential that year end renewals
US & UK pushes for Turkey to reconsider the sea cargoes proof-of-insurance requirement
A standoff over sanctions and insurance that has caused a jam of oil tankers at the key Bosphorus shipping strait escalated, leaving millions of barrels of crude stuck
Hong Kong billionaire Richard Li invests $200 mn in his insurer FWD Group
Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdingsas part of a funding round
Swiss Re advises underwriters to providing re/insurance cover for carbon removal
The insurance industry is “perfectly positioned” for “action” to support global carbon dioxide removal and the transition to a net zero economy by following a three-pronged
Munich Re is aiming for a consolidated €4 bn profit for 2023
Munich Re is aiming for a consolidated profit of around €4 billion for the 2023 financial year under the new reporting standard IFRS 17
Higher profits for European Largest Insurers after COVID-19-related losses
Mergers, divestments and fluctuations in foreign exchange brought more volatility to the ranking of Europe’s largest insurers
AM Best maintains Negative Outlook on U.S. Personal lines insurance market
AM Best is maintaining its negative market segment outlook on the U.S. personal lines insurance segment for 2023, primarily due to significant deterioration
Insurtech NEXT Insurance launches employment liability insurance for Restaurants
NEXT Insurance, a digital insurtech transforming small business insurance, today announced its renewed commitment to small business restaurant owners
SaaS-insurtech Vertical Insure closes a $4 mn seed round
SaaS-insurtech Vertical Insure has closed a $4 million seed round co-led by Rally Ventures and Dundee VC
Proliferation of electric vehicles impacts across the ecosystem and EVs insurance
Electric vehicle sales have grown, accounting for roughly 4.6% of the new light-vehicle registrations in 2024, which is up from 2.6% for the full year in 2022
What are the main reasons for slow growth of Philippine insurance industry?
The low level of Filipinos’ financial literacy is one of the causes of the slowing growth of the country’s insurance industry, according to a regulatory official.
Singapore will form a commercial Cyber Risk Pool up to $1 bn in capacity
Singapore will form a world-first commercial cyber risk pool, as it works towards strengthening the region’s resilience against growing cyber threats
Cyber will be the largest risk for Lloyd’s of London
Cyber will be the largest risk code for Lloyd’s of London in 2023. A risk code is a classification system that Lloyd’s uses to standardise risks and rank
Reinsurers must increase property cat rates in 2023
Reinsurers must increase property cat rates in 2023 to help combat climate change impact, according to EY
Florida’s legislature passed a Bill that creates a state-backed $1 bn Reinsurance Fund
Florida’s legislature passed a bill that would create a state-backed reinsurance fund and attempt to ease litigation costs that have pushed a homeowners-insurance market
Insurtech Walnut raises $4 mn for embedded insurance platform
Walnut Insurance, a technology company that provides infrastructure for embedded insurance, announced their $4 mn seed round, with ATB Financial and NAventures
Average UK Motor Insurance premium risen only by 2%
The average price paid by motorists for their motor insurance has risen only marginally by 2% over the last year despite sustained rising cost pressures faced by insurers
UK insurance industry contributed a record £17.2bn to economy in tax
The insurance and long-term savings industry has contributed a record £17.2bn to the UK economy in tax in 2021-2022, according to the Association of British Insurers
Lloyd’s grantes in-principle approval to Lime Syndicate Management as first managing agency
Lloyd’s has granted in-principle approval to Lime Syndicate Management, in what will be the first managing agency in the market since the Reconstruction and Renewal
Insurance Europe`s feedback about Insurance Recovery & Resolution Directive
Insurance Europe has published a set of key messages on the European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD)
Insurers outline benefits of official registers for beneficial ownership
Insurance Europe has published its response to a consultation conducted by the Financial Action Task Force (FATF) on beneficial ownership
Canada Life Re entered into a structured mortality transaction with Allianz Indonesia
Canada Life Re, a provider of reinsurance solutions for life and health, has entered into a structured mortality transaction with Allianz Indonesia, expanding its footprint in Asia
B2B insurtech Bondaval raises €15 mn in a Series A, total raised €23.5 mn
B2B insurtech Bondaval has raised €15 million in a Series A funding round. The London-based startup is aiming to give credit teams more certainty
Singapore-based insurtech Aktivolabs raises $7 mn in a Series A funding
Singapore-based insurtech startup Aktivolabs has secured $7 million in a Series A funding round, according to regulatory filings
Insurtech PasarPolis raises $12 mn funding after last raised $54 mn in a Series B
Indonesian insurtech PasarPolis has raised $12 million in bridge funding. Existing investors including UK-based equity investor Leapfrog Investment
South Korean digital insurance carrier Carrot secures $250 mn funding
South Korean digital insurance carrier Carrot General Insurance has secured a fresh funding of $25 million. Led by private equity firm Affirma Capital
Premiums in the Polish bancassurance channel went down by about 20%
GWP in the Polish bancassurance channel went down by about 20% y-o-y in the first three quarters of 2022, reaching PLN 4.16 billion
Insurance group Aegon sold its exposure as an investor to Russia
Dutch insurance group Aegon announced it has sold its exposure as an investor to Russia. On March 8 of this year, shortly after the Russian invasion of Ukraine
Insurers consider there is no need to develop an extensive recovery
Insurers consider there is no need to develop an extensive recovery and resolution framework for insurers, Insurance Europe said in a statement
China Pacific Insurance launches of a digital currency account insurance product
China Pacific Insurance together with the Bank of Communications, announced the launch of a digital currency account insurance product
Insurtech Oyster secured $3.6 mn in seed round led by New Stack Ventures
Oyster, an insurance technology company that provides personal insurance through seamless point-of-sale and post-purchase experiences
Tycoon Birla selling Insurance Brokerage Unit
Aditya Birla Capital, controlled by billionaire Kumar Mangalam Birla, is considering selling its insurance brokerage unit as the group seeks to restructure
Turkey will continue to request insurance confirmation letters from crude oil tankers
Turkey will continue to request insurance confirmation letters from crude oil tankers transiting its Bosphorus Strait, the Maritime Authority said
Fitch`s Outlook for the Latin American insurance sector is neutral
Outlook for the Latin American insurance sector is neutral in most markets based on stable industry profile and operating environments (IPOE)
Extreme weather insurance losses in UK up to £1 bn, according to PwC
Costs from extreme weather events would top £1 billion, in today’s terms, according to report by PwC UK. The research comes as the British Red Cross warns that one
India’s insurtech Coverfox Group closes of POS operations
Coverfox Group, India’s largest insurtech group, announced the closure of their POS operations. The senior management has decided to keep the company’s focus
Bermuda reinsurers will incur $13 bn claim losses in payments to policyholders & US cedants
Bermuda reinsurers estimate that they will incur gross claim losses of more than $13 billion in payments to policyholders and cedants in the United States (US)
New reinsurance laws in Puerto Rico open the jurisdiction to international market
Historically, jurisdictional insurance laws in the United States governing credit for reinsurance have required non-US reinsurers to post 100% collateral in the US for risks
Vehicle InsurTech Prima Assicurazioni signed a strategic agreement with iptiQ
Vehicle InsurTech Prima Assicurazioni has signed a strategic agreement with iptiQ, the digital platform and white-label insurance provider of the Swiss Re Group
Nassau Re/Imagine launches an insurtech incubator TalentBridge23
Nassau Re/Imagine launched TalentBridge23 an incubator program focused on the Hartford insurtech community
Insurance regulator IRDAI allowed foreign investors to invest in Indian insurers shares
With major Japanies insurers showing the way in promoting environmental, social, and corporate governance (ESG) and Sustainable Development Goals (SDGs)
$1.2 bn has gone to National Flood Insurance Program policyholders to help recovery
More than $1.2 billion has gone to National Flood Insurance Program (NFIP) policyholders to help their Hurricane Ian recovery, with over 46,000 policyholders
US lawmakers are enacting changes aimed at satisfying insurers’ needs, not homeowners
With Florida’s insurance industry rocked by insolvencies, lawmakers largely are enacting changes aimed at satisfying insurers’ needs
Evan Freely appointed WTW Global Head of Financial Solutions
Evan Freely will be responsible for the WTW’s global financial team of 130 credit and political risk professionals in 24 countries
Munich Re with Shanghai JiuGe IT launches rating services platform in China
Munich Re and JiuGe Technology, subsidiary of mobile data and services company FingerMotion, are ready to launch new behavioural rating services platform
Cryptoasset & blockchain insurer Evertas closes a $14 mn funding led by Polychain Capital
Evertas, cryptoasset and blockchain insurance company, has closed a $14 million funding round led by Polychain Capital
RSA launches of a low-carbon underwriting policy and will rebalance insurance portfolio
RSA announced the launch of a low-carbon underwriting policy, effective 1 January 2023, and a commitment to achieving an underwriting portfolio for energy production
Lloyd’s Blueprint Two programme will be delivered overall in 2024
There will be a one to two quarter delay in the delivery of some solutions within Lloyd’s of London’s digital transformation project Blueprint Two
Lloyd’s Syndicates should be achieving a sustainable profit after losses from Hurricane Ian
The Lloyd’s market’s ability to absorb losses from Hurricane Ian demonstrates just how far the market has come over the last five years in getting to grip with cat exposures
Nigeria launches a risk transfer scheme of parametric flood insurance
Flood risk capacity development for Nigeria within the underwriting community will be key in developing appropriate flood risk models and products
Hong Kong Government issued a development roadmap for the insurance sector
Hong Kong Government has issued a development roadmap for the insurance sector, including targeted policy measures to consolidate the special administrative region’s status
Inflation at the front of European reinsurers’ challenging
Inflation at the front of European reinsurers’ minds, with this ongoing challenge to carriers’ profitability expected to become a significant issue at 1 January renewals
Chubb will launch a new technology services center in Thessaloniki, Greece in 2023
Chubb will launch a new technology services center in Thessaloniki, Greece in early 2023 to deliver innovative technologies that enhance the customer experience
Global Life Insurance Market Outlook overall is stable as rising rates
Global life insurance Market outlook overall is stable as rising interest rates boost investment incomes for insurers and improve the profitability of guaranteed products
Global Reinsurance Market remains well capitalised
Long term, if the Global Reinsurance Market does not develop more innovative solutions, its role and its relevance to the broader economy may be dramatically diminished
U.S. Regulators are assailing the Biden’s plan for collecting climate risk data from insurers
State insurance regulators are assailing the Biden administration’s plan for collecting detailed information from insurance companies to analyze climate risk
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities