Marine & Energy division RB Jones acquires Smart Cargo Insurance business from Corvus
Specialty risk coverage solutions provider RB Jones announced its Marine & Energy division acquired the Smart Cargo Insurance business from Corvus Insurance
News
Aviva launches a standalone insurance coverage for electric vehicle (EV) charging stations
Aviva has launched a standalone insurance product that specifically covers electric vehicle (EV) charging stations, responding to a “boom” in the number being installed in the UK
California-based insurtech Bamboo raises $15mn in Series A led by Eos Venture
California-based US home insurtech Bamboo that offers a range of homeowners, car and personal insurance, has raised $15mn in a Series A funding round
Crop monitoring insurtech PlanetWatchers raises $11 mn for ensuring global supply chains
PlanetWatchers, an insurtech that uses radar and machine learning to provide insights to insurers about changes to a crop, has raised US$11mn in funding of its Series A
FintechOS has partnered with Admiral to power its digital pet insurance products
FintechOS has partnered with UK insurance leader, Admiral, to power its new, digital pet insurance product. FintechOS is a leader in high-productivity fintech infrastructure
Insurtech Wefox: the insurance industry must improve the customer experience
Insurtech Wefox is calling on the insurance industry to improve customer experience and trust in the industry. The insuretech surveyed more than 12,850 consumers
How the Poseidon Principles for Marine Insurance create a benefits for insurers?
Marine insurers have agreed to increase the standards by which they measure climate alignment in the maritime industry
Fannie Mae transferes $700mn of mortgage credit risk to 23 re/insurers
Fannie Mae has announced the transfer of $700m of mortgage credit risk to private re/insurers through its Credit Insurance Risk Transfer (CIRT) 2022 program
McDonald’s moves global insurance operation from Dublin to Bermuda
McDonald’s is moving its global insurance operation to Bermuda from Dublin and is tailing off its Irish vehicle, says a report from the Irish Independent
Japanese Life Insurance Industry will grow to $313 bn in 2026
Japanese life insurers face a series of tough challenges over the next five years because of the country’s ageing demographic and economic factors
Autonomous vehicle technology could revolutionise the mobility space
Safe deployment of autonomous vehicle technology could revolutionise the mobility space, though the insurance industry might not be equipped with the right knowledge
Insurers need partners to reduce the threat flooding poses to life and property worldwide
Insurance Information Institute have stated that insurers need partners to reduce the threat flooding poses to life and property worldwide
Avanta Ventures announces $225 mn fund for early-stage insurtech startups
Avanta Ventures announced a $225 million early-stage Fund II, bringing its assets under management to over $300 million.
Google Cloud and Travelers Insurance to create a cloud-based data ecosystem
Google Cloud and Travelers announced they are working together to create a cloud-based data ecosystem that will quickly synthesize vast amounts of information
Medicare insurance broker GoHealth receives $50 mn investment
Medicare-focused online insurance broker GoHealth has received a $50 million private investment
Indian auto-insurtech Zopper raises $75mn in Series C funding
The New Delhi-based auto-insurtech Zopper raises US$75mn in capital in latest Series C funding drive. Investment round will boost startup’s plans to launch international rollout
UK insurtech ARMD won a place on Lloyds Lab accelerator programme
The UK insurtech startup ARMD has won a place on the latest Lloyds Lab accelerator programme. The innovation lab, which offered a place to nine insurtech startup
CEO Vienna Insurance Group Elisabeth Stadler will retire in 2023
VIG’s Deputy CEO and Deputy Chairman of the Board Hartwig Loeger, ex-Federal Finance Minister and short-term Chancellor, may become the Austrian Group’s CEO
Norbert Rollinger – President of the German Insurance Association (GDV)
Norbert Rollinger is the new President of the German Insurance Association (GDV). The Executive Committee elected the CEO of R+V Versicherung AG to head the association
The Vermont Supreme Court revives a military shipbuilder’s lawsuit for BI insurance coverage
The Vermont Supreme Court has revived a military shipbuilder’s lawsuit for insurance coverage of lost income and extra expenses incurred during the COVID-19 pandemic
Insurtech Inclined raises $15m in a Series A funding round
Fintech startup Inclined has announced it has raised $15m in a Series A funding round. HSCM Ventures led the round, with participation from Anthemis Group
India’s life insurance market swelles by 11% CAGR
The growth of India’s Life insurance market has reported a CAGR of 11% in the sector that has occurred consistently, between 2017 and 2022
UK insurtech Urban Jungle launches Home and Car Multiline Insurance Cover
UK insurtech startup Urban Jungle has become the first insurtech to offer Car and Home multiline insurance cover
Cyber insurance provider At-Bay acquires insurtech marketplace Relay
Cyber insurance provider At-Bay is to acquire Relay, a Toronto-based technology solutions provider, which has built a dynamic digital placement solution
Reinsurance market requires close attention ahead renewals
Reinsurance market has materially shifted and requires close attention ahead of the January 1st, 2023, renewals
Insurtech of workers’ compensation Pie Insurance raises a $315 mn in Series D
Pie Insurance, a leading tech-enabled provider of workers’ compensation insurance to small businesses, has raised a $315 million Series D round of funding
Reinsurance capacity crunch a key catalyst for property catastrophe rate
A potential capacity crunch in the reinsurance sector could be one of the key catalysts for further property catastrophe rate rises at the January 2023 renewals
Cyber insurance premiums could be on a level footing with P&C by 2040
Senior executives are “certain” that cyber will become a prominent line of business for Swiss Re in the long term, even as the reinsurer opts to stay underweight in this class
UK regulator is paying close attention to insurers’ reliance on reinsurance
UK regulator the Prudential Regulation Authority (PRA) is “paying close attention” to the potential for concentration risk due to insurers’ reliance on reinsurance
Underwriting insurance platform Federato raises $15 mn in Series A funding
Federato, a portfolio strategy and underwriting platform for the insurance industry, has raised $15 million in Series A funding, led by Emergence Capital
Generali reaches an agreement to buy the former MetLife pension business in Poland
Generali announced that it has reached an agreement with NN Group to buy the former MetLife pension business in Poland
Hannover Re sees a number of reasons for rising primary insurance rates
Against the backdrop of a trend towards more expensive large losses, German reinsurer Hannover Re expects further price increases and improved conditions in property
Greek insurance market in H1 2022 totaled EUR 2.1 bn premiums
Half year premiums underwritten by Greek insurers members of Hellenic Association of Insurance Companies (HAIC) totaled EUR 2.14 billion, up by 0.20% y-o-y
Hungarian insurance market in H1 2022 rose by 14.8%
Hungarian insurance market in H1 2022 rose by 14.81% to HUF 785.43 billion, according to the quarterly statistics published by the National Bank of Hungary
Global insurance-linked securities (ILS) market remains bogged with prior catastrophe
Global insurance-linked securities (ILS) market remains bogged with prior catastrophe losses as the overall performance of funds deteriorates
AI startup Kanverse signes up to Guidewire’s Insurtech Vanguards programme
A leading hyperautomation platform Kanverse has signed up for Guidewire’s Insurtech Vanguards programme as part of a new innovative strategy
U.S. D&O insurance results have improved
U.S. Directors & Officers (D&O) insurance results in the first half of 2025 have improved, though premium growth has stalled
US life insurtech TCARE raises $17mn for aimed at family caregivers
US insurtech platform TCARE, which provides support to family caregivers and offers a “first-of-its-kind” caregiver insurance to protect against the cost of caring
Insurtech Planck raises $23mn for AI-powered data platform for commercial insurers
Insurtech startup Planck, which is building an AI-powered data and analytics platform for commercial insurers, has raised another $23mn
Insurtech Turaco raises $10mn funding from Series A
The Kenyan insurtech Turaco has raised US$10mn in funding from its latest Series A while maintaining a one billion user target and plans to roll out services across Africa
Insurtech Yokahu selected for inclusion in the 9 cohort of the Lloyd’s Lab
Insurtech Yokahu has been selected for inclusion in the ninth cohort of the Lloyd’s Lab to develop a new parametric loan default protection product
Verisk Maplecroft launches new Industry Risk Analytics
Verisk Maplecroft, a global risk analytics business of Verisk, has launched its new Industry Risk Analytics to provide companies, insurers, and financial institutions
The cost of a cyber claim for small business increased by 58%
The cost of a cyber claim for small business owners increased by 58% in H1 2022, compared to the same period the year before
Reinsurers are showing a diverging appetite for Florida property catastrophe risk
Reinsurers are showing a diverging appetite for Florida property catastrophe risk ahead of further anticipated price increases and coverage constraints going into 2023
International insurance broker Howden acquires Born Consulting
Founded in 2003, Born Consulting is based in Bern, Switzerland and is an independent insurance broker for national and international intermediaries
EU supervision of third-party litigation funding insurance sector could benefit
The European Parliament plenary session adopted MEP Axel Voss’ own initiative legislative report on responsible third-party litigation funding (TPLF)
Insurtech provider Patra announced a $146 mn growth investment
Patra Corporation announced a $146 million growth investment as part of a recapitalization from FTV Capital, a sector-focused growth equity firm
Reinsurance market expects underlying profitability in 2023
Fitch Ratings has maintained its global reinsurance market outlook at neutral and expects underlying profitability to remain broadly stable in 2022 and 2023
Natural catastrophe events in Germany caused damages of €3bn
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022
Parsyl, Lloyd’s syndicate-in-a-box 1796, transferred from Ascot to Asta Managing Agency
Asta, a third-party managing agent at Lloyd’s, announced that the management of Parsyl syndicate-in-a-box 1796 transferred to Asta Managing Agency
Sun Life Insurance is acquiring a 51% Advisors Asset Management for $214 mn
Sun Life Financial is acquiring a majority stake in the US-based retail distribution firm Advisors Asset Management (AAM).
Duuo Insurance partneres with property management software Tenantcube
Duuo Insurance Services announced a partnership with property management software Tenantcube to allow tenants to get a renters insurance quote through the Tenantcube platform
Insurtech Hippo Insurance cutting 10% of workforce
Israeli-founded insurtech company Hippo has announced that it has laid off 70 employees, which represents approximately 10% of the company’s workforce
German insurtech Ottonova raised €34 mn in Series F financing
German digital private health insurer Ottonova has closed its Series F financing with an equity raise of €34 million. The current round is led by private equity investor
Fitch: European insurance sector outlooks could move to deteriorating
Several European insurance sector outlooks could move to ‘deteriorating’ if high inflation persists and interest rate rises become more significant
Climate, war and capital are coalescing to create a tipping point for the reinsurance market
According to Howden’s Reinsurance Market Report, heightened volatility caused by various aspects of the current risk landscape has led the market
AIG launches IPO of its majority-owned subsidiary, Corebridge Financial
American International Group (AIG) has launched the initial public offering (IPO) of its majority-owned subsidiary, Corebridge Financial.
7-10% of Bulgarian homeowners insured against damages from natural disasters
A torrential rain caused rivers and streams to overflow flooding several villages in Bulgarian Plovdiv Province on September 2022, leaving over 500 people in need of safe
Insurtech Ownli offering a free consumer data monetization platform for insurance industry
Formerly known as Parked, Ownli is a startup founded in 2020 to focus on the insurance industry by offering a free consumer data monetization platform
Data insurtech startup Tarci closes a $17 mn Series A funding round
Tarci, formerly Leadgence, has closed a $17 million Series A funding round which saw participation from Liberty Mutual Strategic Ventures
Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
Bitcoin ETFs simplify the process. This structure enables you to access your exposure within an asset via an already harmonized structure within the regulations concerning settlement and risk management
Private equity’s grip on US insurers deepens risk concerns as assets shift into opaque credit, offshore deals and affiliated investments