French reinsurer SCOR has reported a net loss of €239 million for 2022, driven by claims related to the drought in Brazil, flooding in Australia… Read More »French Reinsurer SCOR has reported a net loss of €239mn
German insurtech Element has secured €21.4mn in Series B funding led by pension fund VZB, taking the total amount raised to date to €88mn. The latest… Read More »German Insurtech Element has secured €21.4mn in Series B funding
Data protection insurtech Noldor has closed a US$10mn seed funding round led by D.E. Shaw as it attempts to redefine how carriers, reinsurers and reinsurance… Read More »Insurtech Noldor has secured $10mn in seed funding led by D.E. Shaw
Zurich Insurance has warned of “a sharp increase” in the number of insurance fraud cases it receives, echoing calls that the cost-of-living crisis
US insurtech Reserv, a digital-native third-party administrator (TPA), has raised US$8mn in seed funding led by Altai Ventures and Bain Capital Ventures as it seeks… Read More »US Insurtech Reserv raised $8mn to overhaul P&C claims processing
American Farmers & Ranchers Mutual Insurance Company (AFR Insurance) has adopted Verisk’s property claims-handling solutions. AFR Insurance will use Verisk’s property claims-handling ecosystem to help rapidly assign,… Read More »American Farmers & Ranchers Mutual Insurance has adopted Verisk’s property claims solutions
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy… Read More »Insurers will cover ships that export Ukrainian grain only by arrangements navy escorts
The insurance sector is not materially exposed to the business interruption losses that could arise due to a cut-off in Russian gas supplies to Europe,… Read More »Insurance Sector is not Exposed to the Business Interruption Losses due to Russian Gas cut-off
Lloyd’s of London explains market engagement approach for Blueprint Two. Published on its website, it outlined three areas under which it was tackling engagement: On… Read More »Summary & Roadmap of Blueprint Two. How Lloyd’s will be engaged with Insurance Market?
Motor insurers last year recorded a Net Combined Ratio (NCR) of 96.6%, according to EY’s latest UK Motor Insurance Results
Surplus lines insurance premiums exceeded $31 billion, and premium bearing transactions neared 2.8 million, according to the report of the US Surplus Line Service and… Read More »Surplus Lines Insurance Premiums Exceeded $31 bn (+32%)
Willis Towers Watson has issued a statement on Solvency II reforms, saying that the package of reforms under consultation has the potential to create clear… Read More »Willis Towers Watson has Issued a Statement on Solvency II Insurance Reforms
US life insurtech Bestow has partnered with bereavement platform Empathy to provide its customers with greater support when they lose a loved one. Founded in 2020, Empathy was created… Read More »Life Insurtech Bestow partnered with platform Empathy
Insurtech Gateway, a leading industry incubator, has announced the close of its Seed Fund II. The move will enable Insurtech Gateway to support a further… Read More »Insurtech Incubator Gateway has announced the close of its Seed Fund II
InsurTech Koffie Insurance, that focuses on providing financial services to the trucking and transportation sector, has announced the closing of an $11 million Series A,… Read More »InsurTech Koffie has announced the closing of an $11 mn Series A
Damage from large wildfires in Europe has jumped dramatically, with a 75% increase in the amount of land burnt in the last year. The countries… Read More »Insurer`s damage from large wildfires in Europe has a 75% jumped
Climate risk insurtech Zesty.ai, which gives insurers a range of tools including a predictive AI wildfire risk model, has closed a $33mn Series B funding… Read More »Insurtech Zesty raised $33mn as part of oversubscribed Series B
HSBC Life has teamed up with Square Health and UnderwriteMe to launch a digital underwriting innovation that facilitates frictionless medical screening request processing. According to reports, medical screening requests can… Read More »HSBC, Square Health and UnderwriteMe partnered to create a digital underwriting
Insurance Europe has submitted its response to the EC consultation on its proposal to repeal the Directive on Distance Marketing of Consumer Financial Products (DMD) and to… Read More »DMD rules need to ensure consumers can easily access insurance protection
UK-based Insurtech Ondo has forged a partnership with Admiral Insurance to supply 20,000 smart devices to its home insurance Platinum cover customers. The move follows… Read More »UK-based Insurtech Ondo has forged a partnership with Admiral Insurance
LexisNexis Risk Solutions, the technology-driven risk solutions provider, has launched a new cutting-edge, market-wide contributory claims database
PetTech startup Lassie is one of the pioneers in the European pet health insurance market. The Stockholm-based team recently secured €11 million in a round… Read More »Startup Lassie fetches €11mn for preventative pet insurance
Policygenius, an insurtech that raised $125 million in a Series E round less than three months ago, has reportedly laid off about 25% of its… Read More »Policygenius, an insurtech that raised $125mn, laid off 25% of staff
Cyber risk analytics provider CyberCube has today launched CAERS, a new cyber incident response service for clients of the company’s SaaS products. The Cyber Aggregation… Read More »CyberCube launches cyber aggregation event response service for insurance
India’s life insurance market is expected to grow at a compound annual growth rate (CAGR) of 10.3% through 2026, driven by growing awareness and positive… Read More »India’s Life Insurance Market to 10.3% CAGR & $150.6bn Premiums by 2026
Munich Re faces a “non-trivial” exposure to the ongoing aviation crisis concerning jets stranded in Russia, possibly via its “war risk” policies
The cryptocurrency price crash could accelerate the process of insurers rewriting policies to reduce potential exposure. According to the law firm RPC, the insurers are… Read More »The cryptocurrency price crash accelerates the process of insurers rewriting policies
Big data could be used by insurers to further refine classes of risk and determine better pricing and availability of insurance coverage to ensure a… Read More »Big data could be used by insurers to refine classes of risk & pricing
AM Best’s recent assessment of Lloyd’s operating performance highlights the rating agency’s expectation that London Insurance Market will produce strong technical performance over the underwriting… Read More »AM Best affirmed the Financial Strength Credit Ratings of Lloyd`s
CyberCube, a cyber risk analytics firm, has announced that specialist re/insurance broker McGill and Partners, will be using its cyber risk analytics platforms as part… Read More »Reinsurance broker McGill will be using CyberCube`s cyber risk analytics
The insurance sector invests one in every three euros in public debt, according to a new report by MAPFRE Economics. The report, ‘Global savings after… Read More »Re/Insurance sector invests one in every 3 euros in public debt
Global reinsurer SCOR has said it does not expect the recent monkeypox virus outbreak to cause a significant impact for re/insurers. This is due to… Read More »SCOR doesn’t expect the recent monkeypox virus outbreak to impact for insurers
AXA Germany has reached an agreement to sell a portfolio of life and pensions insurance reserves worth €16 billion. AXA will sell the portfolio to Athora Germany for a consideration of EUR660 million.
Aercap, the largest global aircraft leasing firm, has sued AIG and other insurers including Lloyd’s business Atrium over planes stranded following the outbreak of conflict… Read More »Aercap sued $3.5bn lawsuit against AIG and Atrium Lloyd’s over planes stranded in Russia
The bad weather that has affected France since the end of May has generated nearly a million claims for which insurers will pay compensation estimated… Read More »Insurers will pay compensation estimated at €4 bn for French storms losses
A hard property catastrophe reinsurance market is expected to affect commercial insurance lines pricing
WTW has announced the acquisition of Butterwire – a FinTech provider of data analytics, AI, and machine learning platforms
Mexico’s general insurance industry is expected to grow at a CAGR of 7.5%, from $18.2 billion in 2021 to $26.1 billion in 2026
Only 3% of losses caused by drought, floods and tropical cyclones have been insured on the African continent
Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR and holding company, for a total cash consideration of $9.3 billion
Munich Re Syndicate, the Lloyd’s of London Marine & Specialty underwriter of reinsurance giant Munich Re, is set to back MiKargo247, a new insurtech, created… Read More »Lloyd’s Marine & Specialty underwriter is set to back insurtech MiKargo247
1H losses would be around 40% of the 10-year average of $11.1 billion for US seasonal catastrophes in that quarter.
With reinsurance backing from Munich Re, Chainproof aims to bridge the worlds of traditional insurance and decentralized finance (DeFi)
Wefox, the Berlin-based digital insurer, has seen its post-money valuation increase to $4.5 billion after the company successfully closed a $400 million Series D funding round
Fitch have stated that the first public comments from Dutch insurer – ASR, on the implications of IFRS 17 support Fitch Ratings’ view
SMEs risk being priced out of cyber insurance as rising costs force them to prioritise other areas of their business, according to market research company GlobalData.
Lloyd’s of London has said that it is now collecting information on the impact of inflation on reserving, to ensure underwriters, members and syndicates are… Read More »Lloyd’s will collect information on inflation’s impact on reserving
Insurtech YuLife has raised $120m in a Series C round of funding that the firm says it will use to accelerate its global expansion. In… Read More »InsurTech YuLife has raised $120M in a Series C round of funding
Insurance Europe has published a series of country fact sheets that highlight the trade and market access barriers that European reinsurers face in Argentina, Brazil, Canada, India and Indonesia. Removing these… Read More »Trade and Market access barriers that insurers face
According to a WTW survey, most IFRS 17 programmes will require a pragmatic approach to deliver on time. Insurers have reported that there is still… Read More »New accounting rules: Global Insurance industry after IFRS 17 goes live
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft guidelines on the calculation of administrative fines under the… Read More »Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
Italian insurer Generali has completed its acquisition of La Médicale, the insurance subsidiary for healthcare professionals Crédit Agricole
The next phase of the London Insurance Market’s electronic placement platform NextGen 2.0 has been further delayed, this time to February of next year
Global reinsurer capital fell by $30bn from the end of 2021 to the end of the first-quarter of 2022. In a statement that this was driven mainly by unrealised losses
Energy and utility companies have become the main target for cyber attacks. Given the growing threat of such attacks, demand for cyber insurance
The two main trends that are making insurers shift to prevention are the growing complexity of risks society faces, and the ever-increasing availability of data
The privately owned bank also predicts a shallow recession in 2023 across Europe, the UK and the US, according to a newly issued sector note by Berenberg
Through analysis, underwriting, investment and advice, insurance sector of Africa is helping to understand the complexities of climate change
We are therefore supportive of the European Parliament’s legislative own-initiative report on responsible private funding of litigation
InsurTech start-up, Ledger Investing has announced that it has raised $75 million in Series B funding led by WestCap, with participation from Teachers’ Venture Growth… Read More »Ledger Investing raises $75M to democratize Insurance Risk Capital
