General Insurance newsletter Friday 1st August 2025

Insurance News

What do the UK’s Captive insurance reforms mean for the market? - The UK government’s announcement of a dedicated framework for captive insurance is causing ripples across the financial and insurance sector. Will this boost the UK’s competitiveness or lead to increased cost and risk? Our article explores what these reforms, including faster authorisation and lighter regulation, could mean for your business. (IDEX Consulting news, 'What do the UK’s Captive insurance reforms mean for the market?')
The AI transformation: How to bring your team on the journey - Building successful AI adoption hinges on team engagement and buy-in. Our experts share actionable strategies for a collaborative approach, moving from resistance to success. Watch our video to learn how to lead your teams on the AI journey. (IDEX Consulting news, 'The AI transformation: How to bring your team on the journey')
MGA outlook: an opportunity for insurers - With the MGA market booming, insurers have a huge opportunity to optimise their product innovation and market reach. Our article explores how partnering with agile MGAs can help insurers capitalise on specialised expertise, technology, and talent to win in a saturated landscape. (IDEX Consulting news, 'MGA outlook: an opportunity for insurers')
UK and US insurance regulatory reforms: what you need to know - For UK and US insurers, navigating a complex regulatory landscape is crucial. Our article provides essential insight on the changing regulatory market, from climate risk to AI, helping your business proactively adapt to new standards in an increasingly complex regulatory environment. (IDEX Consulting news, 'UK insurance regulatory reforms: what you need to know')
AXA reported a 7% increase in gross written premiums for H1 2025, driven by growth in property & casualty (+6%), life & health (+8%), and asset management (+4%), alongside strategic initiatives like reinsurance integration and the acquisition of a 51% stake in Prima, an Italian digital insurer. (Kenneth Araullo, 1/8/2025, Insurance Business, 'AXA grows premiums in H1 amid P&C and life insurance momentum')
Arthur J. Gallagher reported a 23% rise in adjusted EBITDAC to $1.01 billion for Q2 2025, driven by 16% brokerage revenue growth, 5.4% organic growth, and nine acquisitions, while progressing on its $13.45 billion AssuredPartners acquisition expected to close in Q3 2025. (Josh Recamara, 1/8/2025, Insurance Business, 'Arthur J. Gallagher reports strong Q2 results')
UK Insurance Premium Tax (IPT) receipts rose 9% to £8.88 billion in 2024-2025, according to HMRC, driven by increased demand for private health insurance amid NHS access challenges, with calls for targeted IPT exemptions to improve affordability and support public services. (Josh Recamara, 1/8/2025, Insurance Business, 'UK insurance premium tax receipts rise to £8.88 billion')
The UK P&I Club launched "UK Fixed," a fixed premium P&I product for smaller vessels, following the integration of Thomas Miller Specialty Marine, aiming to expand its market share and provide predictable pricing for operators of offshore support ships, tugs, and inland watercraft. (Josh Recamara, 1/8/2025, Insurance Business, 'UK P&I Club expands fixed premium offering')
WTW reported 5% organic revenue growth in Q2 2025, driven by strong performance in its risk and broking segment, which saw a 7% revenue increase to $1.05 billion. Overall revenue was $2.26 billion, slightly down from $2.27 billion in Q2 2024 due to the sale of TRANZACT. Net income rose significantly to $332 million, up from $142 million a year earlier. The company continues to focus on its "Grow, Simplify & Transform" initiative, targeting $450 million in cost savings. (Kenneth Araullo, 31/7/2025, Insurance Business, 'WTW posts organic revenue growth in Q2 amid strong risk & broking results')
Arch Capital Group reported Q2 2025 net income of $1.2 billion, down from $1.3 billion in 2024. Gross premiums in the insurance segment rose 27.5%, driven by the MCE acquisition, while the reinsurance segment saw an 8.7% increase in gross premiums. The underwriting expense ratio improved to 33.6%, supported by scale efficiencies. Despite a slight profit dip, Arch achieved strong premium growth and maintained a 22.9% return on equity. (Rod Bolivar, 31/7/2025, Insurance Business, 'Arch Capital Group's Q2 profit slips to US$1.2 billion')
Intact Financial, RSA's parent company, reported a 4% rise in Q2 2025 premiums, driven by strong personal lines growth in Canada, including an 11% increase in personal auto premiums. The combined ratio improved to 86.1%, while net operating income reached $935 million. UK and Ireland premiums fell 5% due to portfolio adjustments, though underlying growth was 3%. The company anticipates high single-digit premium growth in personal lines over the next year. (Rod Bolivar, 31/7/2025, Insurance Business, 'RSA parent firm reports 4% Q2 premium growth')
Avatar MGA has secured Lloyd’s coverholder approval and FCA authorisation, allowing it to begin binding US mid-market property risks from August 1, 2025. Backed by three Lloyd’s syndicates, Aon, and Santam, Avatar will underwrite properties with insured values of $25 million to $1 billion using a tech-driven underwriting model. This move supports Santam’s international growth and diversification goals. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Avatar MGA secures Lloyd’s approval, begins binding US property risks')

Five firms were granted Chartered status by the CII in Q2 2025, recognising their commitment to professional and ethical standards. These include Morgan Williams & Co, M4 Financial Group, The Islands’ Insurance Brokers, Hepburns Insurance, and M.J. Touzel (Insurance Brokers) Limited, trading as Islands Insurance. (Josh Recamara, 31/7/2025, Insurance Business, 'Five firms granted Chartered status by the CII')
Markel Group reported Q2 2025 revenues of $4.6 billion, up from $3.7 billion in 2024, driven by insurance revenues of $2.23 billion and $580.2 million in investment gains. Operating income rose to $1.1 billion, while the combined ratio increased to 96.9% due to adverse development in run-off lines. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Markel Group Q2 revenues climb as investment gains rebound')
Everest Group reported Q2 2025 net income of $680 million, with a 14.8% annualised shareholder return. Reinsurance grew 1.6%, while insurance declined 3.3%. The combined ratio improved to 90.4%, driven by favourable reserve development and reduced catastrophe losses. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Everest posts net income recovery in Q2 as reinsurance lifts performance')
Allianz UK has partnered with Sainsbury’s Bank to provide home and motor insurance starting November 1, 2025. This agreement aligns with Sainsbury’s shift to a brand-partner model and expands Allianz’s reach in the UK retail market. (Josh Recamara, 31/7/2025, Insurance Business, 'Allianz UK announces Sainsbury's Bank agreement')
AXIS Capital reported Q2 2025 operating income of $261 million, driven by a 7% rise in insurance premiums, offsetting a 7% decline in reinsurance. Gross premiums grew 3% to $2.5 billion, while net income reached $216 million. (Kenneth Araullo, 30/7/2025, Insurance Business, 'AXIS Q2 operating income hits US$261 million as insurance segment drives growth')
Aon’s Q2 2025 Global Insurance Market Insights report highlights a temporary window of lower rates and improved terms for insurance buyers, driven by increased market capacity. However, systemic risks like geopolitical tensions, climate events, and cyber threats could quickly reverse these conditions, making this soft market phase potentially short-lived. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Insurance buyers benefit from lower rates as Aon flags brief market window')
MAPFRE’s report, 'The Future of Interaction: The Role of Interaction in a World Shaped by Intelligent Agents', explores how AI could transform insurance by 2035. It outlines four scenarios, ranging from limited digital progress to universal access to intelligent systems, highlighting trends like automation, seamless interactions, and rising data security expectations. Early adopters of AI in underwriting, claims, and customer service may gain a competitive edge. (Josh Recamara, 30/7/2025, Insurance Business, 'How AI could reshape insurance by 2035')
Willis’ Natural Catastrophe Review predicts global insured losses from natural disasters in 2025 will exceed $100 billion for the seventh consecutive year. Major events like the $40 billion Los Angeles wildfires and record-breaking tornadoes in the US have already strained insurers, with an active hurricane season expected to add further pressure. (Mav Rodriguez, 29/7/2025, Insurance Business, 'Catastrophe costs show no sign of slowing in 2025 – Willis')
Brown & Brown reported a 9.1% year-over-year revenue increase in Q2 2025, reaching $1.3 billion, driven by an 8.2% rise in commissions and fees and a 3.6% organic revenue growth. Adjusted EBITDAC rose 12.1% to $471 million, with a margin improvement to 36.7%. (Josh Recamara, 29/7/2025, Insurance Business, 'Brown & Brown reports strong Q2 revenue growth')
The insurance industry continues to grapple with the fallout from the seizure of over 400 leased aircraft in Russia, with claims under hull war policies exceeding $3 billion. A UK High Court ruling confirmed coverage but emphasised aggregate limits, leading insurers to tighten terms and reassess risk models. According to WTW, the judgment has significant implications for policy response and market practices, with reinsurers reviewing exposures and potential disputes over loss definitions and aggregation clauses. WTW also noted broader underwriting caution across aviation classes, as further legal cases could shape recovery outcomes and market dynamics. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance industry faces fallout from Russian aircraft seizures')
QBE has partnered with Matrix iQ to provide fleet clients with real-time insights into driver behaviour, claims trends, and operational risks. The platform integrates with telematics systems, consolidating data into a dashboard that includes ESG metrics for tracking emissions and sustainability. Jon Dye, QBE Europe’s motor underwriting director, highlighted the collaboration’s role in enhancing fleet management and aligning with QBE’s broader service goals. The system is being rolled out to select clients, with wider access planned soon. (Josh Recamara, 29/7/2025, Insurance Business, 'QBE partners up to enhance fleet risk insights')
Aon reported $4.2 billion in Q2 2025 revenue, an 11% year-over-year increase driven by 6% organic growth and contributions from its NFP acquisition. Risk Capital revenue rose 8% to $2.9 billion, while Human Capital revenue grew 15% to $1.3 billion. CEO Greg Case highlighted strong client demand for advisory services amid a complex risk landscape. The NFP acquisition, completed in April 2024, has bolstered Aon’s middle-market presence and is expected to generate over $2.8 billion in value. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Aon Q2 revenue climbs with NFP deal cited as a major booster')
Branko Bjelobaba, a compliance consultant and industry advocate with nearly 40 years in insurance, warns the UK sector faces a talent crisis without better engagement with young people. With over a quarter of employees aged 50+, the industry risks a skills gap. Bjelobaba highlights its failure to promote itself effectively, noting only 11% of employees are aged 20-30. He calls for coordinated outreach, financial literacy education, and modernised messaging to attract fresh talent and secure the sector's future. (Bryony Garlick, 28/7/2025, Insurance Business, 'Can UK insurance survive without young talent?')
BIBA CEO Graeme Trudgill visited Nigeria to strengthen ties with its growing insurance market. He met with key industry bodies to discuss broker development, regulation, and innovation, highlighting collaboration opportunities in a market with under 1% insurance penetration. (Josh Recamara, 28/7/2025, Insurance Business, 'BIBA CEO visits Nigeria to deepen ties with growing insurance market')

Mergers & Acquisitions

Verisk has acquired AccuLynx, a SaaS provider for roofing contractors, in a $2.35 billion deal to enhance its insurance claims and restoration network. The acquisition, expected to close in Q3 2025, will integrate AccuLynx’s tools into Verisk’s Property Estimating Solutions. Verisk also reported Q2 revenue growth of 7.8% to $773 million, with adjusted EBITDA rising 11.9% to $445 million. (Rod Bolivar, 31/7/2025, Insurance Business, 'Verisk acquires roofing software firm AccuLynx amid strong Q2 results')

Movers

Liberty Specialty Markets has bolstered its energy division with three key hires: Alex Nelson, previously leading Chaucer Group’s onshore energy portfolio, joins as Underwriting Manager for power and renewables; Andrea Ciraci, with nine years at AXA and AXA XL underwriting power, renewables, and UK nuclear portfolios, becomes a Senior Underwriter; and Oliver Prout, with seven years of London market experience specialising in renewable energy contracts at Chaucer, also joins as a Senior Underwriter. These appointments aim to expand its renewables portfolio, including wind, solar, and battery storage projects. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Liberty Specialty Markets boosts energy team with three key renewables hires')
Starting November 1, Dennis Siebrasse will take on the role of Head of Liability Underwriting Europe at HDI Global. Previously Head of Technical & Strategic Services – long tail, Siebrasse will now oversee underwriting activities across HDI Global’s core European markets. Dr Pascal Nef, formerly leading Swiss Re’s Risk Consulting & Analytics team for EMEA, will succeed Siebrasse, leveraging over a decade of experience in insurance analytics. Since March, Mark Appleton has managed HDI Global’s local liability units on an interim basis, contributing to the development of the company’s liability portfolio. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')
Sarah Penny has been named Client Services Director for Gallagher Bassett’s UK operations, reporting to Chief Operating Officer John Fearn. In her new role, Penny will manage corporate and carrier client relationships while collaborating with the business development team to improve client onboarding and enhance services. With 15 years of insurance experience, Penny has held roles at Previsico, Liberty Specialty Markets, Pen Underwriting, Ecclesiastical, and Allianz Insurance, progressing from claims handler to management positions in relationship management, business development, and partnerships. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')
Towergate Employee Benefits has named Roberto Russo as Global Benefits Management – Principal Consultant. Reporting to Sarah Dennis, Russo will handle client relationships, business development, and team support. With nine years’ experience at Generali and MAXIS, he brings expertise in global benefits strategies and financing solutions. Russo will also mentor team members and support client growth initiatives. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')
Arch Insurance International has promoted David Maher to Chief Information Officer (CIO), effective immediately. Maher will lead the company’s technology strategy and infrastructure to enhance operational efficiency and scalability. Joining Arch in 2024 as International Head of Delivery, he previously held senior technology roles at Lloyds Banking Group, Bank of America Merrill Lynch, Direct Line Group, WTW, and UBS, bringing over 25 years of financial services technology experience. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')
The Financial Conduct Authority has named Liam Coleman as interim Chair of the Financial Ombudsman Service, effective October 10, 2025. Succeeding Baroness Zahida Mazoor, Coleman brings over 30 years of experience, including roles as CEO of The Co-operative Bank and senior treasury positions at RBS and Nationwide. He also chairs boards such as Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')
Victor Insurance UK has promoted Paula Saxon to UK Agriculture Product Lead, overseeing underwriting strategy, profitability, and growth for the agriculture portfolio. She succeeds Sarah Robinson, who moved to the US to support Victor US Specialty’s agriculture program. With over 14 years of experience in agricultural insurance and broking, Saxon joined Victor in 2022 after leading farm underwriting operations at AIUA/Geo Agriculture. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')
Volante Global has appointed former StarStone CEO Demian Smith as its new Chief Executive Officer, pending regulatory approval. With 30 years of experience in broking and underwriting, Smith previously held leadership roles at Guy Carpenter and StarStone Group. He succeeds interim CEO Martin Reith, who will remain as Chairman. Smith’s appointment aligns with Volante’s expansion efforts, including the launch of its treaty reinsurance platform, Volante Re, and recent leadership additions to strengthen its MGA and syndicate operations. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Former StarStone CEO Demian Smith to head Volante Global')