Insured losses from Hurricane Melissa in Jamaica could hit between $2.2 bn and $4.2 bn, according to data from Verisk’s extreme event solutions unit. Melissa slammed into the island on Oct. 28 with ...

The Illinois House has voted down a contentious insurance regulation bill that would have expanded the state’s power to review and modify filed rates, mandate longer notice periods for premium hikes, ...

Hurricane Melissa tore into Jamaica with 185 mph winds and sheets of rain, smashing records and leaving behind a trail of economic damage that could stretch into the billions. Yet insured losses are ...

US auto insurers are racing to increase premium rates as they seek to offset historically poor underwriting results. The year-to-date nationwide average increase for private auto insurance is 32% in ...

London-based insurtech INSTANDA has closed a $20 mn round, a push that lifts total capital raised to more than $85 mn. CommerzVentures led the deal, adding its weight as a specialist investor focused ...

Omnix Medical, a Jerusalem biotech working on anti-infective drugs, closed a $25 mn Series C funding round co-led by Harel Insurance & Finance and the European Innovation Council (EIC) Fund. Existing ...

Previsico, the UK-based InsurTech specializing in live flood alerts, has closed its Series A funding round, setting the stage for a major expansion push. Investors included Connecticut Innovations, ...

S&P Global Ratings shifted its outlook on Vienna Insurance Group and its reinsurer VIG RE to positive from stable. The agency kept both entities at A+ for insurer financial strength and issuer credit.

Hannover Life Re of Australasia struck a deal earlier this year to acquire Swiss Re Life & Health Australia’s direct life insurance arm, known as iptiQ. The sale price wasn’t disclosed. For Hannover, ...

Loss reserving is becoming a data problem before it’s an actuarial one. Regulators, rating agencies, and audit committees want faster, more sophisticated reserve estimates, according to insurtech ...

Flood insurer Wright Flood, a subsidiary of Brown & Brown, said it will acquire the assets of Poulton Associates, one of the largest national catastrophe managing general agents. Closing is scheduled ...

Metropolitan Tower Life Insurance, a MetLife subsidiary, has entered into a $1.8 bn pension risk transfer deal with Eastman Kodak following the company’s decision to terminate its longstanding Kodak ...