FinTech News

HSBC Insurance has completed the acquisition of 100% of the issued share capital of AXA Insurance in Singapore, for $529m.

Ontellus, a records retrieval and claims intelligence company, has partnered with Duck Creek Technologies to help insurers manage injury claims.

Systems built by insurers in the late 90s have long since become redundant following the wave of digital transformation the industry has experienced since. As such, insurers need to find partners to help them meet the market requirements of today that will also equip them with the tools to scale successfully in future.

Digital life insurance provider Nowly, a subsidiary of Canadian insurer Teachers Life, has launched in Canada.

Gaia, a startup platform that provides insurance payment plans to finance IVF treatments, has closed a $20m Series A round led by London’s Atomico.

International insurer Allianz SE is to acquire 72% of Greek insurer European Reliance General Insurance Company, as it looks to grow its franchise.

Cyber Sierra, a Singapore-based cyber insurance platform, has reportedly raised $4.3m in its seed funding round.

KPMG latest Pulse of FinTech report has suggested that a lack of M&A activity globally could reflect greater concerns about InsurTechs with high valuations that have not yet generated positive returns.

Global insurance companies have reportedly decided not to insure any Ukrainian landings or aircraft in the country’s airspace, a report from Reinsurance News has revealed.

Reinsurance giant Swiss Re has led a pre–Series A funding round for Latin America-based digital insurer Klimber.