Munich Re invests in Capitola to utilize AI-based risk appetite matching for carriers and brokers

Key Signals in Insurance

abrdn-supported Virgin Money teams up with FNZ for digital investment platform launch
FNZ and Virgin Money have launched a digital investment platform developed by Virgin Money Investments, a joint venture between Virgin Money UK and abrdn. The direct-to-consumer platform, which includes an app, allows investors to access three investment funds within an ISA or GIA. Read More>>
Sri Lanka Insurance partners with MegaPay
This partnership will allow customers of Sri Lanka Insurance to make payments and renew their insurance policies conveniently through the MegaPay platform. This will provide customers with a hassle-free and secure payment experience, reducing the need for physical visits to Sri Lanka Insurance branches. Read More>>
Executive Movements
Brown & Brown appoints Mathis as chief legal officer
Mathis will also serve on the senior leadership team of the national insurance-brokerage firm. Before joining Brown & Brown, Mathis served as a senior VP for KBR, Inc., where he had direct responsibility in the business’s global energy, technology, and international government services areas. Read More>>
Mirek Wieczorek named Senior Vice President, Head of Reinsurance for ICW Group insurance companies
As a part of ICW Group’s vision to become a top-tier, multi-line carrier, Wieczorek joined ICW Group nearly four years ago to help build the Assumed Reinsurance business for the company and establish ICW Group in the reinsurance marketplace. Read More>>
Guidewire appoints Michael Howe as Chief Product Officer
Guidewire appointed Michael Howe as Chief Product Officer, reporting to Chief Executive Officer Mike Rosenbaum. In this new role, Howe will lead product strategy, product management, marketing, and the Guidewire partner marketplace. Read More>>
Truist to end sales and trading of MBS, government-agency bonds
The decision comes as part of the bank’s efforts to simplify its operations and focus on its core business lines. The move is expected to result in losing about 80 jobs, but it will support affected employees. Truist’s decision follows similar moves by other banks that have exited the MBS market in recent years, citing regulatory pressure and declining profitability as factors. Read More>>
Financial and Market Activity
Brown & Brown posts 23.4% rise in Q123 revenues
The company reported revenues of USD 1.12 Bn for the first quarter of 2023, representing an increase of USD 211.3 Mn, or 23.4%, compared to the same period in 2022. Organic revenue totaled USD 967.3 Mn for Q1, compared to USD 859.4 a year earlier. Read More>>

Latest Industry Insights from Draup Braindesk

Key Funding Alert

Munich Re Ventures invests in a digital marketplace
Munich Re Ventures has invested in Capitola, a digital marketplace that connects insurers with distribution partners. The investment from Munich Re Ventures will help Capitola expand its platform and reach new markets. Read More>>

Startup Spotlight

Company – Paytient
Total Funding – USD 62.9 Mn
About: Paytient is a Health Payment Accounts (HPAs) developer, a sponsored benefit that makes it easier to pay for out-of-pocket healthcare expenses. The Paytient card unlocks access to care with interest-free credit, while the app allows members to better manage and organize their healthcare spending. Read More>>

Latest Reports Published in Draup

Sompo International Holdings Account Intelligence Report
Sompo International enhances digital transformation to develop unmitigable, unique solutions from the RDP and build effective ecosystems. It develops digital business in the insurance sector and aims to help customers to live their lives with security, health, and wellbeing. Read More>>
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