Vesttoo deploys $1bn in reinsurance capacity to Clear Blue’s P&C lines
Vesttoo has entered a partnership with Clear Blue Insurance Group to deploy $1bn in reinsurance capacity to Clear Blue’s P&C lines over the next year
News
Ping An Insurance launches PingAn-3, the company’s first earth observation satellite
Ping An Insurance Company of China has launched PingAn-3 – also known as Taijing-1 01 – the company’s first earth observation optical remote sensing satellite
Rising inflation in Europe will hurt the profitability of insurers
Rising inflation in Europe, which jumped to 8.9% in July 2022, the highest in the last 25 years, will hurt the profitability of general insurers over the next two years
Russia-Ukraine war is driving conservative reserving in global reinsurance
Greater uncertainty arising from global issues, like the COVID-19 pandemic and the Russia-Ukraine war, is driving more conservative reserving approaches in the global reinsurance industry
Aflac launches short-term disability product with mental health coverage
Insurer Aflac announced the launch of its newly enhanced Aflac Individual Short-Term Disability Insurance. The company’s income protection insurance product
The new factors driving growth in the US property & casualty insurance market
Lloyd’s provides an update on the factors driving growth in the US property & casualty (P&C) insurance market.
Lloyd’s sets out requirements for state-backed cyber-attack exclusions in insurance policies
Lloyd’s of London has set out requirements for state-backed cyber-attack exclusions in standalone cyber-attack policies
Positive reinsurance price movements leds by primary insurance markets
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines
Which leading insurance price comparison websites dominate UK’s Car Insurance Market
four price comparison websites—Compare the Market, GoCompare, MoneySuperMarket and Confused—dominate the UK’s motor insurance market
Global executives are of the opinion that Blockchain Technology is all hype
20% of global executives are of the opinion that blockchain technology is all hype, as doubts about its industrial applicability increase due to the recent collapse B3i
Heatwaves & weather-related events account for 11% of home insurance claims
Scorching weather coupled with a lack of rain will create the perfect conditions for wildfires in the UK, and insurers should brace themselves for a rise in home insurance claims
InsurTech Investments fell by 80%, leading to job startapers losses
GlobalData’s Deals Database reveals that the value of global investments in insurtech fell by 79.6%. This follows a consistent flow of stories of insurtechs struggling in 2022
Insurtech Lemonade lais off some Metromile employees after M&A closing
Insurtech Lemonade has laid off some Metromile employees after closing its acquisition of the company. Lemonade said around 20% of Metromile’s team was affected
AI-digital platform for insurance agencies COVU closed a $10 mn seed funding
ManchesterStory Group to create an COVU – AI-enabled digital platform for insurance agencies. The funding will be used to build and scale COVU (formerly Vero Intelligence)
Vehicle platform Autonomy introduced a monthly auto insurance product by Liberty Mutual
Vehicle subscription platform Autonomy introduced a digital, month-to-month auto insurance product into the Autonomy subscription bundle, in partnership with insurer Liberty Mutual
US mortgage insurance underwriting results were strong – Fitch Ratings
Fitch Ratings analysis shows that US mortgage insurance underwriting results in 1H22 were particularly strong as current-year loss activity is in line with pre-pandemic periods.
Stable pattern of re/insurers` underwriting profits
AM Best suggests that there is a stable pattern of underwriting profits as companies are becoming more proactive about making explicit allowances for inflationary trends
US insurtech Ledgebrook has raised $4.2mn in seed funding
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022
Inflation Reduction Act (IRA) of 2022 will benefit U.S. Health insurance industry
AM Best is of the view that the Inflation Reduction Act (IRA) of 2022 contains several important provisions for the health insurance industry
AON and Mergermarket released the latest edition of Global M&A Risk in Review
AON and Mergermarket, a provider of intelligence, data and analysis of global M&A, released the latest edition of their global M&A Risk in Review
AI-Insurtech Tractable announced a Series D round of $60m and hits Unicorn status
London-based insurtech Tractable, which helps insurance companies rapidly process claims with AI, announced a Series D round of $60m and hits unicorn status
Allianz announces 1H 2022 revenue worth EUR 81.2 bn (+7.2%)
Allianz announced 1H 2022 revenue worth EUR 81.2 billion (+7.2%), operating profit worth EUR 6.7 billion (+1.2%) and net income attributable to shareholders of EUR 2.3 billion
Hannover Re Group generates net income in H1 2022 of EUR 649 mn
German reinsurer Hannover Re is confirming its earnings guidance for 2022 after generating Group net income of EUR 649 million in the first six months
Swedish home Insurtech Hedvig raises €9m from Obvious Ventures and D-Ax
The Swedish home insurance startup Hedvig has raised €9,3m from San Francisco based Obvious Ventures and Swedish retailer group Axel Johnson’s venture leg D-Ax
NAIC pass a new regulatory standards for the pet insurance industry
The National Association of Insurance Commissioners members pass a Pet Insurance Model Act to establish appropriate regulatory standards for the pet insurance industry
Insurtech Stoïk raises €11 mn in a Series A round led by Andreessen Horowitz (a16z)
Franch cybersecurity insurtech Stoïk has raised €11m in a Series A round led by US investment giant Andreessen Horowitz (a16z) to roll out its hybrid insurance
Coalition acquires P&C insurer Digital Affect Insurance from Munich Re
Cyber insurance provider Coalition has acquired property and casualty insurer Digital Affect Insurance from Munich Re.
Indian Insurtech unicorn Digit seeking to raise an estimated $440mn, filed its IPO
Indian Insurtech Digit Insurance has gone ahead and filed for its IPO, despite the current financial climate that has seen other insurtechs defer the process
Marshmallow, car insurtech, announced an $83m Series B
Marshmallow announced an $83m Series B, with prominent backers including Passion Capital, Investec Bank and Scor. It values the company at $1.25bn
Brazilian reinsurer IRB Brasil Re seeks to raise close to US $300 mn
Brazilian reinsurance company IRB Brasil Re set to announce a new share offering, as it seeks to raise close to US $300 million
Insurance sector codes in the Bermuda Monetary Authority Act 1969 revised
Insurance sector codes in the Bermuda Monetary Authority Act 1969 have been revised as part of the passing of a bill to amend the BMA Act by adding
Aon announces a new academic collaboration between Impact Forecasting team
Re/insurance broker Aon has announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California
Cigna with Oscar expands small business health insurance into the Philadelphia
Cigna Corporation is to expand its Cigna + Oscar small business health insurance into the Philadelphia metro area
Reinsurers continue to actively shrink property cat exposures to avoid perils
A recent AM Best report suggests that companies continue to actively shrink their property cat exposures to avoid perils and reduce volatility
Home insurtech Hippo generates $358mn insurance premium for 1H2022 (+27%)
Home insurtech Hippo has seen its total amount of generated premium grow 29% year-over-year to $204.1 million for the second quarter of 2022
GlobalData warnes insurers to brace themselves for a rise in home insurance claims
Extremely high temperatures coupled with a lack of rain are set to create perfect conditions for wildfires across the UK.
How prolonged economic weakness will impact overall demand for insurance?
Prolonged economic weakness resulting from the energy crisis will impact overall demand for insurance and drive claims costs higher
State Farm announced the expansion of Digital Pay to include insurance claim payouts
U.S. insurer State Farm announced the expansion of its Digital Pay solution to include claim payouts delivered instantly into a customer’s PayPal account
Cowbell Cyber and Swiss Re announce partnership in cyber insurance coverages
Cowbell Cyber announced a new partnership with Swiss Re to bring “expertly designed” cyber insurance coverages to enterprises with up to $750 million in revenue
Demex Group launches parametric snowfall insurance program
The Demex Group is announcing the launch of snowfall insurance underwritten by Evanston Insurance Company, a subsidiary of Markel
Tokio Marine and Arbor Ventures building future of insurtech & digital transformation
Tokio Marine has joined forces with Arbor Ventures, a fintech-focused venture capital firm, to accelerate digital transformation and foster innovation
Investment manager BlackRock launches a Bitcoin Private Trust
Investment manager BlackRock has launched a private trust offering US-based institutional clients exposure to spot bitcoin
Stable outlook on the Malaysian Non-Life Insurance Market
The Malaysia non-life insurance market has shown modest expansion, with a five-year average compound annual growth rate of 1.8% in terms of gross premium written from 2017-2021
Florida’s Homeowners Insurers are Facing Fraud Schemes & Underwriting Losses
An issues brief published by the Insurance Information Institute has affirmed that the turmoil in Florida’s homeowners insurance market is due to fraud schemes
Sapiens formes a partnership with Shift Technology to provide AI fraud alerts
Sapiens International, a provider of software solutions to the insurance industry, has formed a strategic partnership with Shift Technology, the developer of AI-driven decision solutions
Australia Insurance Market Forcast: $73.6 bn premium in 2026
GlobalData has projected that the value of the general insurance industry in Australia could rise to around US$73.6 billion in 2026.
Hungary’s Insurance Market Forcast: $5.7 bn premium in 2025. Industry grows at 6.3% CAGR
Hungary’s insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.3% from $3.91 bn in 2020 to $5.7 bn in 2025
Allianz Direct and Insurtech CHECK24 launches a strategic partnership in Germany & Spain
Allianz Direct and CHECK24 are launching a strategic partnership in Germany and Spain where consumers in both countries will be able to access Allianz Direct products
InsurTech Root announced results: $140mn premium, 298K auto policies
Root, the Columbus digital insurer reported a net loss of $90 million for the second quarter ended June 30, but consumed only $40 million of its unrestricted cash
Insurtech Modern Life launches $15mn of seed funding by Thrive Capital
Modern Life, a tech-enabled life insurance brokerage for advisors, has launched with $15mn of seed funding led by Thrive Capital
European insurers supportes the transition to a more sustainable economy
Insurance Europe and the CFO Forum have made a number of recommendations including the urgent need for a phased introduction
Swiss Re launches SRILIAC – insurance-linked investment company
Swiss Re announces the launch of its new investment advisory company and wholly owned subsidiary Swiss Re Insurance-Linked Investment Advisors Corporation
Workers’ compensation startup Pie Insurance parners with InsurTechs
Pie Insurance, the specialist provider of cover for small businesses, has forged three, key partnerships to drive its solutions in the marketplace
US InsurTech Socotra raised $50mn in funding capital in Series C round
Insurtech Socotra has expanded its team by 63% and also raised $50mn in funding capital in its Series C round
US Insurer Nationwide to launch with Insurtech Brella a new health insurance
Insurance giant Nationwide has partnered with insurtech Brella to launch a supplemental health insurance plan that covers out-of-pocket expenses
InsurTech Cover Genius has formed a partnership with the BNPL fintech, Zip
The Australian insurtech Cover Genius has joined forces with leading BNPL provider Zip to offer customers cover on purchases at the point of sale
Gallagher announced the acquisition of risk management organization Another Day
Gallagher announced the acquisition of Another Day. Terms of the transaction were not disclosed. Another Day is a UK-based risk management organizations
Sun Life Financial sells SLF of Canada UK to Phoenix Group Holdings
Sun Life Financial has entered into an agreement to sell SLF of Canada UK Limited to Phoenix Group Holdings, Headquartered in London
Global Indemnity agreed to sell American Reliable Insurance Company to Everett Cash Mutual
GBLI (Global Indemnity Group) announced that its subsidiary American Reliable Insurance Company has sold its Farm, Ranch, and Equine book
Aviva to acquire MGA Azur Underwriting – high-net-worth personal lines business
Aviva has signed a binding agreement with specialist MGA Azur Underwriting to acquire its high-net-worth personal lines business in the UK and Ireland
Global economic losses from natural disasters in 9M 2026 were estimated at $204 bn, which was 31% below the long-term average since 2000 ($296 bn)
Homeowners insurance typically covers lightning damage to houses, belongings and detached structures, but coverage for power surges depends on policy terms
Life insurance customer trust fell in 2026, particularly among Gen Z and financially vulnerable consumers, despite stable overall satisfaction
67% of US independent insurance agents use AI, while trust and innovation drive carrier partnerships and satisfaction diverges across P&C insurance lines