Digital insurer Wefox closes $400m Series D round
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
News
European insurers said that it does not plan to use IFRS 17 yet
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
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 will collect information on inflation’s impact on reserving
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
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
Trade and Market access barriers that insurers face
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
New accounting rules: Global Insurance industry after IFRS 17 goes live
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
Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
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
Italian insurer Generali has completed its acquisition of La Médicale, the insurance subsidiary for healthcare professionals Crédit Agricole Assurances. As well as this, Generali has… Read More »Italian insurer Generali has completed its acquisition of La Médicale
London Insurance Market’s electronic placement platform has been delayed
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. According… Read More »London Insurance Market’s electronic placement platform has been delayed
Global reinsurer capital totalled $660bn
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
New Cyber insurance rates for energy companies. Why insurers raise prices?
Energy and utility companies have become the main target for cyber attacks. Given the growing threat of such attacks, demand for cyber insurance
Main trends that are making insurers shift to risks prevention
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
Insurers are relatively well prepared for a recession
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
How insurers can help to reduce climate change impact in Africa
Through analysis, underwriting, investment and advice, insurance sector of Africa is helping to understand the complexities of climate change, working with policymakers to reduce its impact and create new opportunities
Insurance Europe has called for the European Union to protect insurers
We are therefore supportive of the European Parliament’s legislative own-initiative report on responsible private funding of litigation
Ledger Investing raises $75M to democratize Insurance Risk Capital
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
Insurers and Policymakers must work together to tackle protection gaps
Significant protection gaps exist in societies and economies around the world and coordinated action is required from policymakers, insurers and the public to address them. … Read More »Insurers and Policymakers must work together to tackle protection gaps
Key positions on the Global Insurance Capital Standard
Insurance Europe has published a summary of its key positions on the Holistic Framework and the Insurance Capital Standard (ICS), ahead of the International Association… Read More »Key positions on the Global Insurance Capital Standard
Insurers continue to assess exposure and liabilities to Ukraine & Russia
The aggregate value of planes stuck on Russian territory following the nation’s invasion of Ukraine could even surpass the claims stemming from 9/11. Insurers continue… Read More »Insurers continue to assess exposure and liabilities to Ukraine & Russia
Munich Re and Swiss Re have the largest share of hurricane losses
Munich Re and Swiss Re typically have the largest share of hurricane losses among the European reinsurers. They have historically incurred the highest share of… Read More »Munich Re and Swiss Re have the largest share of hurricane losses
Home and Auto insurance Startup Branch raised $147 mn
Branch, a startup offering bundled home and auto insurance, has raised $147 million in Series C funding at a postmoney valuation of $1.05 billion
Arthur J. Gallagher acquires the UK’s broker Devitt Insurance
Arthur J. Gallagher acquired of Romford, Essex-based Devitt Insurance Services Limited (“Devitt”) in the United Kingdom
Insurtech automating insurance platform Akur8 closed funding of $30M
Automating insurance pricing is a big business, and the world of AI is coming at it “full pelt.” The latest is Akur8, an insurtech automating insurance… Read More »Insurtech automating insurance platform Akur8 closed funding of $30M
Spainish insurtech Bdeo closes a Series A round of funding
Bdeo, insurtech company from Spain and Latin America, has closed a Series A round of funding worth €5 million
McGill in partnership with FortuneGuard and ARX introduced a new war risk reinsurance facility to provide commercial property coverage in Ukraine
In the US, two major hurricanes and frequent severe thunderstorms accounted for at least two-thirds of the year’s global insured losses, which currently exceed $135 bn
The global economy is poised for further solid expansion. We forecast global real GDP growth at 2.8% in 2025 and 2.7% in 2026, roughly in line with 2024
The London re/insurance market sees a growing push toward digital approaches. Enhanced underwriting stands out as a new direction for companies