General Insurance newsletter Friday 6th June 2025

Insurance News

2025 Insurance regulatory changes for UK and US insurers and brokers - In 2025, UK and US insurance regulators are enhancing cross-border regulatory alignment, strengthening data privacy and consumer protection measures, and intensifying climate risk disclosure requirements, compelling insurers and brokers to adapt to more rigorous compliance standards and operational practices. (IDEX Consulting news, '2025 Insurance regulatory changes for UK and US insurers and brokers')
How is AI shaping the insurance sector?- AI is transforming insurance by streamlining underwriting, speeding up claims, improving fraud detection, and enhancing customer service through tools like generative AI and predictive analytics—despite challenges with legacy systems and regulation. Learn what tools you should be taking advantage of. (IDEX Consulting news, 'How is AI shaping the insurance sector?')
Bad hires are costing employers: here's how you can improve your process- To enhance hiring outcomes, employers should adopt structured interviews, utilise behavioural techniques, and incorporate AI tools and cognitive assessments. This approach reduces bias, improves candidate evaluation, and helps avoid costly hiring mistakes. (IDEX Consulting news, 'Bad hires are costing employers: here's how you can improve your process')
Time for a pay rise? Check your salary with our calculator- The IDEX Consulting Salary Calculator helps you benchmark your pay against current market rates. By entering your role, experience, and location, you get a personalised salary range - ideal for career planning, job moves, or salary reviews. (IDEX Consulting news, 'Time for a pay rise? Check your salary with our calculator')
Kennedys reported a 13% revenue growth to £428 million for the financial year ending April 2025, marking its 11th consecutive year of growth, and set a target to achieve US$1 billion in global revenue by 2030 through strategic expansions, leadership changes, and investments in innovation and infrastructure. (Josh Recamara, 5/6/2025, Insurance Business, 'Kennedys reports 13% revenue growth, eyes US$1 billion by 2030')
Howden has acquired Granular Investments to enhance its credit risk transfer capabilities across Europe, focusing on synthetic securitisation and tailored financial solutions for banks and insurers, aligning with its strategy to expand in the credit risk-sharing market. (Kenneth Araullo, 4/6/2025, Insurance Business, 'Howden boosts European credit risk transfer with Granular Investments deal')
Beazley warns SMEs to strengthen cyber defences against rising threats like phishing, ransomware, and AI-driven attacks by implementing measures such as employee training, multi-factor authentication, regular system updates, vulnerability assessments, and incident response plans, while addressing gaps in cyber insurance adoption. (Kenneth Araullo, 4/6/2025, Insurance Business, 'SMEs must bolster cyber defences, Beazley warns')
Hiscox UK has revamped its technology insurance product to include explicit AI-related coverage, addressing risks like AI model failures, negligent advice, and incorrect AI outputs, while also expanding coverage for sustainability-focused technologies and removing exclusions for pollution and Log4j vulnerabilities. (Josh Recamara, 6/6/2025, Insurance Business, 'Hiscox revamps tech insurance product with AI focus')

Mergers and Acquisitions

Markel has acquired The MECO Group, a specialist marine managing general agent, to enhance its global marine insurance capabilities, integrating MECO's established brands and expertise into Markel's specialty division to expand its presence in the marine sector. (Kenneth Araullo, 2/6/2025, Insurance Business, 'Markel acquires MECO Group to expand global marine capabilities')
Dai-ichi Life Holdings plans to acquire a 15% stake in M&G plc as part of a strategic partnership to expand its European presence, enhance asset management collaboration, and leverage growth opportunities in private markets and life insurance across Europe and Asia. (Kenneth Araullo, 2/6/2025, Insurance Business, 'Dai-ichi Life to acquire 15% stake in M&G')

Movers

Markel has promoted Mike Petchey, with over 20 years of industry experience, to head of schemes, where he will lead the broker-led specialist schemes team, focusing on sector-specific propositions and strengthening broker relationship. (Josh Recamara, 6/6/2025, Insurance Business, 'Insurance moves: Mission Underwriters and Markel ')
Mission Underwriters has appointed Sujatha Raju as chief technology officer, leveraging her 23+ years of experience in technology transformation to enhance scalable infrastructure, operational efficiency, and technological tools, following the recent acquisition of Talage. (Josh Recamara, 6/6/2025, Insurance Business, 'Insurance moves: Mission Underwriters and Markel ')