The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) have launched the Global Shield against Climate Risks
US private auto insurers recorded an underwriting loss of more than $4bn in 2023, and with a rapidly worsening loss ratio, analytics expects that carriers’… Read More »US auto insurers recorded an underwriting loss of $4bn
Motor and personal lines insurance broker, Got You Covered Ltd, has announced that Sean Byrne has joined the business as Managing Director
General Atlantic is in talks to invest about $50 million in Acko, according to TechCrunch, doubling down on its bet on the Indian insurtech
Re/Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient
Parametric flood insurtech FloodFlash has announced plans to expand into the US market, led by Mark Hara as CEO for its North America operations
The 2022 combined ratio for the P&C insurance industry is set to worsen compared to 2021, driven by Hurricane Ian and significant deterioration in the personal auto line
A group of over 85 insurers in Africa have pledged to create a financing facility to provide $14 billion of cover to help protect 1.4 billion people
Vienna Insurance Group (VIG) has reported premium growth across all lines of business and segments in Q3, with a total increase of 13.6% to €9.5 billion
A new note from CoreLogic says that it estimates that privately insured gross modelled losses from Hurricane Nicole will be less than $750m
Kyte, the San Francisco-based insurtech startup that offers a delivery and pick up service for car rentals, has closed a $60 million Series B round
Dai-Ichi Life Holdings has made an offer to acquire shares of pet insurance provider ipet Holdings, with the intention of making it a wholly-owned subsidiary
Aflac and Trupanion are announcing a joint venture between Aflac Life Insurance Japan and Trupanion to provide pet insurance in Japan
Since its launch by the United Nations, the ESG movement has grown into a global phenomenon that is reshaping the asset management
MetLife stock has actually had an eventful 2022. While the S&P 500 index has fallen 22% this year, MetLife stock has cruised to a 20% gain, including reinvested dividends
Guy Carpenter launches of MetaRisk Live, a new tool that supports the structuring and optimization of reinsurance strategies in real time
Root Insurance shared its Q3 2022 results. To further improve cash flow, insurtech is prioritizing resources that support its “go forward strategy.” As a result, the… Read More »Car insurtech Root Insurance premiums in Q3 2022 decreased by 26% to $151 mn
Home insurtech Hippo has announced total generated premium (TGP) growth of 36% to $219 million in third quarter of 2022
Allianz has released its Q3 results, saying that operating profit grew by 7.4% in the period to reach €3.5bn
Copper, a provider of institutional digital asset custody and trading solutions, has secured $500 million of insurance protection for digital assets in cold storage
Hurricane Ian is expected to have an “immediate and substantial” impact on the excess and surplus (E&S) lines property market
Glow, the digital insurance agency for small businesses, announced that it has closed a $22.5 million round of series A financing led by Cota Capital
San Francisco-based provider of management insurance for high-growth businesses Anzen Insurance has raised $10 million in seed financing led by Andreesen Horowitz
Rhino announced agreements with several insurance carriers and reinsurers, including Ally Insurance, ReAlign, and Clear Blue Insurance Group
Substantial increases in interest rates globally have significantly affected the balance sheets of some insurers this year
Insurtech Lemonade says that in-force premiums (IFP) with the firm have risen 76% year on year to reach $609m in Q3 2022.
SCOR has reported a net loss of €509 million for the first nine months of 2022, as natural catastrophe claims increased to €907 million
UK Insurtech Policy Expert, a leading personal lines digital insurance provider, has announced its expansion plans, which include enhancing its technology division
With the world facing growing challenges including the war in Europe and a global energy crisis, it is essential that the mission- and business-critical communications networks
By end user, cybersecurity insurance solutions to be leveraged maximum by insurance providers, registering an 18% CAGR.
Google Cloud and Travelers announced they are working together to create a cloud-based data ecosystem that will quickly synthesize vast amounts of information
FRISS announced the launch of their Trust Automation Platform. While trust is important, it’s of ultimate importance in ours – it’s the very concept insurance is built on
Non-life insurance premiums in Italy rose by 6%, according to data from Fitch Ratings, owing to strong growth in non-motor lines
Insurance Europe has said that the continent’s insurers and reinsurers are still willing to play their ‘important role’ in tackling climate change
Munich Re has reported profit of €527 million and €1.9 billion for the third quarter and first nine months of 2022, respectively, despite a rise in major losses within property
Generali has reached an agreement with CTT, the Portuguese postal services group, for the distribution of life and P&C policies through the CTT Group network
Spanish small business insurance startup SingularCover has shut down, based on information obtained by Coverager
Insurers’ underwriting and investment strategies in the coming years will be increasingly influenced by ESG considerations, suggests a report from Fitch Ratings
Zurich has reached a settlement with multinational food and beverage company Mondelez International to close a $100 million lawsuit brought against the insurer
Avolon, an aircraft leasing company based in Dublin, has taken legal action against Lloyds Insurance in the Irish High court over losses linked to Russia-Ukraine war
Berkshire Hathaway has reported pre-tax losses related to Hurricane Ian of $3.4 billion for the third quarter of 2022, as the company’s insurance and reinsurance units fell
AXA’s gross revenues went up by 2% on a comparable basis, to EUR 78.4 billion in 9M 2022. In P&C Commercial lines, insurance revenues increased by 6% to EUR 24.4 billion
Gross written premiums in Central East Europe (CEE) amounted to EUR 22.17 billion at regional level, up by almost 7% in 1H2022
Given the declining investment yields of the past decade, US property and casualty reinsurers’ investment allocations during this period have shifted to more riskier assets
Swiss Re Institute has warned of the risk posed to insurance and reinsurance companies by the prospect of inflationary recessions and financial instability
Fairfax Financial Holdings says it saw a net loss of $75.1m in Q3 2022 against net earnings of $462.4m in the same period in 2021
Insurers have paid or reserved to pay $13.9 billion on all types of Hurricane Ida-related claims in Louisiana
Cabify, the international multi-mobility platform, has joined forces with Incode Technologies, the next-generation identity verification and authentication platform
Europe’s insurers and reinsurers wish to reiterate their willingness to continue playing their important role in climate change mitigation and adaptation in support of the goals
Online retail giant Amazon has launched an insurance store where customers can purchase various forms of home cover via its new quote and comparison-style platform
Insurtech Previsico has accelerated their UK IoT solutions rollout for flood mitigation across the UK to help minimise risk for homeowners and businesses
Pet insurance firm ManyPets will acquire insurance carrier Digital Edge Insurance, allowing it to underwrite is own policies as it continues its US rollout
Digital insurance company Lemonade has joined the Association of British Insurers as its latest member following the firm’s launch in the UK
Cyber insurance pricing increased globally by 53% in Q3 2022, while Property insurance pricing increased by 6%, Casualty insurance pricing increased by 4%
Swiss Re has entered an alliance with Latin American insurtech Jooycar to boost auto insurance telematics benefiting small and medium-sized commercial fleets in Mexico
U.S. Auto Claims Satisfaction Study, customer satisfaction has declined 7 points from 2021 as they begin to lose patience with the claims process
Allstate has announced a net loss of $694 million for the third quarter of 2022, compared to a net income of $508 million in the prior year quarter
Liberty Mutual has said that elevated catastrophe losses and volatility within the investment markets has driven a net loss of $353m in Q3 2022
Specialty insurance MGA, Corvus Insurance has announced it has entered into a multi-year partnership with Travelers Companies, a provider of personal, business
Aon have reported that insurers and reinsurers in the Canadian market are increasingly to turning to the alternative capital markets to navigate challenging conditions
