General Insurance newsletter Friday 13th June 2025

Insurance News

MGA outlook: is growth clashing with capacity concerns? - The MGA market is experiencing unprecedented growth, with projections reaching around $110 billion globally. With over 350 UK MGAs placing 10%+ of the country's £47 billion in general insurance premiums, MGAs are thriving in today's market, but could capacity concerns and regulatory complexities stifle growth? Read IDEX Consulting's analysis. (IDEX Consulting news, 'MGA outlook: is growth clashing with capacity concerns?')
What's your brokerage worth? Find out with IDEX's free calculator- Based on your insurance company's profile, revenue and profit, IDEX's easy to use calculator provides an instant valuation offering you the essential data you need to make key business decisions. (IDEX Consulting news, 'What's your brokerage worth?')
M&A insights: advice from tax and legal specialists -Looking to grow or sell your business? Check out expert insights from our tax, legal, accountancy and buy-and-sell specialists. They offer valuable guidance on maximizing sale value and ensuring a seamless transaction. (IDEX Consulting news, 'M&A insights: advice from tax and legal specialists')
Predictive analytics: what to expect in 2025 h2? - Predictive analytics is transforming the insurance industry by enhancing risk management, fraud detection, efficiency, and customer service. Success lies in scaling AI from pilots to enterprise-wide solutions to address industry challenges. But what can insurers, brokers and MGAs expect for the remainder of 2025? (IDEX Consulting news, 'Predictive analytics: what to expect in 2025 h2')
New findings from Aviva’s latest Broker Barometer suggest that underinsurance continues to pose a material concern for insurance professionals, with the majority of brokers observing significant gaps between declared and actual asset values. According to the survey, 68% of brokers believe their clients are underinsured. Only 28% of those clients are said to consistently use surveys to assess the value of insured assets. Another 59% use surveys intermittently, while 12% rarely or never rely on one. This approach, brokers say, increases the likelihood of claim disputes or partial settlements. (Rod Bolivar, 13/6/2025, Insurance Business, 'Brokers warn on widespread underinsurance risk - Aviva')
Managing general agents will have new tools to support strategic planning and operational assessment following a collaboration between the Managing General Agents’ Association (MGAA) and market intelligence provider Insurance DataLab. The agreement gives the MGAA full access to Insurance DataLab’s insight platform, which contains performance data on all regulated non-life insurers, Lloyd’s syndicates, major MGAs, and broking firms. (Rod Bolivar, 13/6/2025, Insurance Business, 'MGAA expands member tools with DataLab')
The United Kingdom became the world’s second-largest art market in 2023, overtaking China with an 18% share, according to Art Market Review by Ecclesiastical Insurance. The report, authored by Dr James Lindow, is based on data from the Art Basel and UBS Global Art Market Report and outlines key figures and developments across the sector. (Rod Bolivar, 13/6/2025, Insurance Business, 'UK overtakes China in art market - insurer')
As global trade tensions rise and tariff policies remain uncertain, multinational corporations are increasingly diversifying their supply chains, embracing nearshoring and “friend-shoring” to enhance their resilience. While these strategies help reduce companies’ dependence on specific regions, entering new markets or expanding in existing ones can also bring a host of new risks. (Gia Snape, 12/6/2025, Insurance Business, 'Tariffs push multinationals to diversify supply chains, creating new risks')
Insurance United Against Dementia (IUAD) is moving into its next stage of development following the appointment of Chris Lay (pictured), CEO of Marsh McLennan UK, as its new campaign chair. The transition comes after the campaign reached its initial £10 million fundraising target, which supported a range of dementia-focused projects in partnership with Alzheimer’s Society. (Rod Bolivar, 12/6/2025, Insurance Business, 'Insurance United Against Dementia names Chris Lay new chair')
As weather-related insurance losses fluctuate across Europe, WTW and the University of Exeter are entering a new phase of their long-running research collaboration focused on windstorm risk. Now in its 20th year, the partnership is moving towards understanding how climate variability over the next five to 10 years could influence storm activity and related insurance exposures. (Rod Bolivar, 12/6/2025, Insurance Business, 'WTW and Exeter partnership targets evolving windstorm risk')
The Z Zurich Foundation marked a record-breaking year in 2024, delivering support to 10.5 million people globally - an increase of 179% from the previous year - according to its latest impact report. This surge was underpinned by strategic investments and expanded programming in its four core focus areas: climate adaptation, mental wellbeing, social equity, and crisis response. (Jonalyn Cueto, 12/6/2025, Insurance Business, 'Z Zurich Foundation more than doubles its global reach')
A Boeing 787 Dreamliner operated by Air India has crashed into a residential neighbourhood in Ahmedabad, western India, shortly after take-off on a scheduled flight to London Gatwick. All 242 people on board - comprising 232 passengers and 10 crew - were subject to emergency response operations, with casualties feared. The aircraft was reportedly insured under a $10 billion aviation cover led by Tata AIG General Insurance Company. (Matthew Sellers, 12/6/2025, Insurance Business, 'Gatwick-bound 787 Dreamliner crashes with 242 on board')
Chancellor Rachel Reeves’ recently announced Spending Review, which includes an additional £29 billion per year for the NHS in England, is drawing scrutiny from the insurance sector, particularly over the adequacy and future of flood defence funding. Among the measures outlined, the government pledged £4.2bn over three years for new flood protection infrastructure across the UK. The review also included a £39bn allocation over a decade for housing and a planned increase in defence spending from 2.3% to 2.6% of GDP by 2027.(Rod Bolivar, 12/6/2025, Insurance Business, 'Flood defence funding sparks insurance concerns')
Applied Systems’ withdrawal of its Epic broker management system (BMS) from the UK has prompted industry voices to weigh in on what the move reveals about the state of broker software and market dynamics in the region. While Applied Systems cited insurer alignment challenges and complex commercial product requirements as key factors in its decision, industry professionals say the announcement also signals broader considerations around market consolidation, supplier saturation, and long-term commitment to UK-specific needs. (Rod Bolivar, 12/6/2025, Insurance Business, 'Applied Epic UK withdrawal – reaction pours in')
Insurance Europe has called on European regulators to reassess parts of the proposed anti-money laundering (AML) rules, cautioning that several elements under consultation could create unnecessary operational burdens, particularly for life insurance providers dealing with low-risk products. The federation submitted its position to the European Banking Authority (EBA) as part of the consultation on new Regulatory Technical Standards (RTS), which are being developed in line with the EU’s sixth Anti-Money Laundering Directive (AMLD6). (Rod Bolivar, 12/6/2025, Insurance Business, 'Insurers seek balance in AML rules')
The High Court in London has ruled that insurers must carry out claims made by aircraft lessors for commercial jets impounded by Russia in the wake of its 2022 invasion of Ukraine, delivering a pivotal judgment in one of the most consequential aviation insurance disputes of recent decades. In a ruling that could reverberate across multiple jurisdictions, Mr Justice Butcher found that claims for the loss of 147 aircraft and 16 engines – at approximately $4.5 billion - can be pursued under war-risk policies. While the judge drew a clear distinction between war risk and all-risk cover, the ruling offers a substantial win for lessors seeking recompense for assets effectively nationalised by Moscow under emergency legislation. (Matthew Sellers, 11/6/2025, Insurance Business, 'Lloyd's, AIG, Chubb, Swiss Re hit by Russian jet decision in UK court')
Through its proprietary platform Fast Trade and partnerships with the Acturis eTrade software house, Aviva’s digital operation empowers brokers serving small to medium enterprises (SMEs) with simple, fast, and increasingly sophisticated digital insurance solutions. As e-trading continues to grow at a double-digit pace, the insurer is positioning itself at the forefront of digital insurance transformation. Embedded insurance opportunities, more flexible trading models, and deeper broker relationships are all on the horizon, according to members of Aviva’s digital team. (Gia Snape, 11/6/2025, Insurance Business, 'How Aviva's digital team is powering the next era of e-trading')
Canopius Group has confirmed that Samsung Fire & Marine Insurance (SFMI) will acquire an additional 21% equity stake in the company, raising its total shareholding to 40%. The stake will be purchased from existing shareholder Fidentia Fortuna Holdings, which is backed by US-based private equity firm Centerbridge Partners. This marks the third investment by SFMI in Canopius, following prior commitments made in 2019 and 2020. The companies have maintained a strategic partnership since SFMI's initial involvement. (Kenneth Araullo, 11/6/2025, Insurance Business, 'Samsung Fire and Marine boosts Canopius stake')
Markel Insurance has introduced a new product tailored for insurtech firms called InsurtechRisk+. It is designed to provide insurance and risk management cover for businesses based in the UK, Europe, Australia, Asia and Canada. The product includes four insuring clauses: insurance services and technology liability, directors and officers (D&O) liability, crime, and cyber liability and loss. Policy limits extend up to £10 million. (Kenneth Araullo, 11/6/2025, Insurance Business, 'Markel debuts InsurtechRisk+ covering UK and other major markets')

Allianz has introduced the Unity Awards, a new initiative designed to highlight individuals and organisations across the UK who use sport to bring people together. The awards are part of the insurer’s wider ‘Power of Unity’ programme, which aims to counter social division by supporting community-based sports initiatives. (Rod Bolivar, 11/6/2025, Insurance Business, 'Allianz Unity Awards open for submissions from grassroots clubs and individuals')
Insurance companies are reviewing the potential impacts of the UK government’s proposed mandatory pay gap reporting on ethnicity and disability, raising concerns around data quality, employee privacy, and reporting thresholds. The International Underwriting Association (IUA), which represents London Market insurers, has submitted its response to the consultation on the Equality (Race and Disability) Bill. (Rod Bolivar, 11/6/2025, Insurance Business, 'Pay gap proposals raise privacy concerns')
German insurtech firm Feather has launched a new business insurance product aimed at international companies with expat employees across Europe. The digital-first service extends the startup’s reach beyond individual coverage to cross-border workforces. Feather, which initially gained traction by digitising insurance access for expats in Germany, France, and Spain, is now targeting human resource departments with a platform that covers employee health, life, and pension insurance. It also includes professional liability, general liability, and cybersecurity insurance. (Jonalyn Cueto, 11/6/2025, Insurance Business, 'Feather rolls out business coverage for expats')
The Luxembourg Institute of Science and Technology (LIST) has teamed up with commercial insurer FM in a research initiative aimed at addressing cyber and climate risks, reflecting an ongoing strategy in Europe to mobilise public research capabilities to support industry resilience. The collaboration combines FM’s experience in commercial property insurance with LIST’s research in cybersecurity, artificial intelligence, Earth observation, and digital twin technologies. (Rod Bollivar, 11/6/2025, Insurance Business, 'FM partners with LIST on risk projects')
The UK’s motor insurance industry is bracing for another milestone in its evolution, as Uber and Cambridge autonomous vehicle start-up Wayve announce plans to pilot fully driverless taxi services on London’s public roads. Backed by heavyweight investors including Microsoft and SoftBank, Wayve will supply the technology powering the fleet, while Uber will offer the customer-facing platform via its app. The move signals a critical phase in the UK’s broader strategy to establish itself as a serious player in the global autonomous mobility sector - one that will rely heavily on the flexibility and foresight of the insurance industry. (Insurance Business, 'Driverless Ubers given green light in London – but are insurers ready?')
Crawford & Company has released its latest report outlining key trends and operational pressures that continue to reshape the global insurance claims environment. The report identifies a measurable increase in both the frequency and severity of extreme weather events. According to Crawford, these developments are contributing to a “new normal” characterized by climate change-driven catastrophes, which are increasing volatility across the insurance sector. (Kenneth Araullo, 10/6/2025, Insurance Business, 'Crawford warns of growing protection gaps and operational strain')

Mergers and Acquisitions

Global mergers and acquisitions (M&A) activity is expected to face headwinds in 2025, with sentiment shifting due to a combination of geopolitical uncertainty and economic concerns. This outlook emerges from a Norton Rose Fulbright survey, conducted by Mergermarket in the first quarter of 2025 (Q1 2025), of 200 senior-level executives involved in cross-border M&A deals valued at US$200 million or more. (Roxanne Libatique, 12/6/2025, Insurance Business, 'Mergers and acquisitions heat up with AI, insurance, private equity moves')

Movers

His appointment was confirmed by the AIA Board of Directors during its recent meeting in Orlando, Florida. Wrigglesworth succeeds Chris Morin of MURRAY, MORIN & HERMAN, P.A. in Tampa, and becomes the first non-US president of the AIA since David Sales concluded his term in 2017. Ian Wrigglesworth (pictured), global head of Aviation and Aerospace Specialty at Guy Carpenter, has been elected president of the Aviation Insurance Association (AIA) for the 2025–2027 term. (Jonalyn Cueto, 13/6/2025, Insurance Business, 'Wrigglesworth named president of Aviation Insurance Association')
Two insurance companies have announced senior appointments as they continue expansion strategies across international and domestic markets. MNK Group has appointed Wajahat Khawaja (pictured) as head of governance and controls, bringing more than 30 years of industry experience to the independent global insurance group. The appointment comes as the company continues its international expansion across multiple continents. (Jonalyn Cueto, 12/6/2025, Insurance Business, 'Insurance moves: MNK Group and Agria')
The Financial Conduct Authority has named Sarah Pritchard (pictured) as its first deputy chief executive as the regulator implements a series of reforms and takes on new duties related to stablecoins, non-bank financial leverage and market conduct. The role was created in response to an increase in the FCA’s responsibilities, including the integration of the Payment Systems Regulator and new oversight of cryptoasset firms, stablecoins and buy now, pay later (BNPL) credit services. (Jonalyn Cueto, 12/6/2025, Insurance Business, 'FCA appoints Sarah Pritchard as first deputy chief executive')