Europe Insurance Brokerage News

Related Insurance Industry News

• November 2023: AXA completed the purchase of Laya Healthcare Limited for a price of USD 684 million, as previously reported by the company.
• July 2023: AXA completed its acquisition of GacM Spain for an amount of USD 326 million, according to a statement made by AXA on the occasion of the transaction.

• In March 2024, Allianz SpA completed the acquisition of the Italian insurance and reinsurance company Tua from Assicurazzioni Generali SpA for an agreed price of EUR 280 million. The transaction was first announced on October 12th, 2023.
• In May 2023, InsureMyTrip is now offering travel insurance in Canada. Traveling Canadians and visitors to Canada can now go online at insuremytrip.ca to compare, quote, and buy travel insurance from the best travel insurance providers in the country. With the launch of insuremyTrip.ca, the website is set to become the go-to travel insurance comparison website in Canada. 
• In February 2023, Vistara formed a partnership with Allianz Partners to offer optional travel insurance to its passengers. Customers can now opt for travel insurance during the booking process for both domestic and international flights.

• January 2024, AXA IM introduced the AXA IM MSCI Europe Equity PAB UCITS ETF to its range of ETFs. This new ETF tracks the MSCI Europe Climate Paris Aligned index, providing investors with a cost-effective choice for sustainable, low-carbon investments.
• Allianz disclosed its intention to acquire Tua Assicurazioni SpA from Assicurazioni Generali SpA for EUR 280 million (USD 297.89 million) in 2023.

• March 2024: Chubb Limited recently unveiled a global platform aimed at offering transactional risk liability insurance products in international markets.
• January 2024: Cover Genius, a leading insurtech for embedded protection, and Vueling, Spain's prominent low-cost airline, unveiled an exclusive partnership aimed at safeguarding over 30 million travelers. By tapping into Cover Genius' robust global technology, this collaboration empowers Vueling to expand its reach beyond Spain, effectively addressing the evolving demands of the global travel community.
• November 2023: Cover Genius, a prominent insurtech specializing in embedded protection, and SAS, the premier airline in Scandinavia, unveiled an exclusive and tailor-made protection program. This program spans over 25 European countries and the United States and has the potential for global expansion. By integrating comprehensive travel protection directly into the customer booking process, passengers not only enjoy AI-driven price optimization and personalized product suggestions but also a hassle-free claims process.

• January 2024: Manulife and Aeroplan, an Air Canada-owned loyalty program, launched a new multi-year agreement that will allow Manulife Group Benefits members to accrue Aeroplan points for participating in activities and behaviors that promote health and well-being.
• December 2023: Westland Insurance acquired Gateway Insurance Group, Hutcheson, Reynolds, and Caswell Insurance. With this acquisition, Westland expanded its already robust Property and Casualty (P&C) practice and grew its presence in the strategically important Ontario and Atlantic Canada region.
• November 2022: StoneRidge Insurance Brokers acquired Safeway Insurance, which offers consumers a wide variety of financial products, including investment alternatives and life insurance, in addition to a huge selection of property and liability insurance products.

• March 2023 - Hinduja Global Solutions acquired a 100% stake in TekLink International Inc. for USD 58.8 million.TekLink International Inc. is operating in Europe and India.
• February 2023 - Tata Consultancy Services (TCS) expanded its partnership with Phoenix Group ReAssure's operations will undergo a transition as a result of the expanded relationship, with the heritage business being consolidated onto the same digital platform, TCS BaNCSTM, which is based in the future and is used to manage Phoenix Group's other books of business.

• November 2023: NJJ, a telecommunications conglomerate, collaborated with Bolttech, an Insurtech company, to offer mobile device insurance for mobile operators.
• October 2023: Modives collaborated with Bindable aimed at introducing embedded insurance into their property segment.

• In September 2023: Definity launched a new usage-based insurance (UBI) offering to provide drivers unprecedented control over their premiums while promoting safer driving practices.
• In August 2023: Citroen India, with the help of ICICI Lombard General Insurance, has introduced Usage-Based Insurance For EC3 Customers to encourage safe driving among owners.

• October 2023: Bharti Group entered an agreement with its partner AXA to purchase AXA's 49% ownership stake in Bharti AXA Life Insurance. The completion of the transaction was anticipated by December 2023.
• April 2023: American International Group (AIG) finalized its arrangement with investment funds managed by Stone Point Capital to establish a standalone managing general agency, Private Client Select Insurance Services. This agency will focus on serving high-net-worth and ultra-high-net-worth markets.

• June 2022: StoneRidge Insurance Brokers (SIB) has formed a new partnership deal with K5 Insurance, a full-service insurance brokerage. The partnership with K5 Insurance expands its personal and commercial presence in both Manitoba and Saskatchewan.
• January 2023: Tekion, the innovator of the Automotive Retail Cloud, partnered with Polly, the leading insurance marketplace for automotive retail. Through this partnership, dealers can access Polly’s insurance quotes directly from Tekion ARC.