Beinsure

3 weeks ago | beinsure.com | Peter Sonner

Wefox, an insurtech and managing general agent, announced it will sell all shares in its Italian subsidiaries—Wefox MGA and Wefox Services Italy —to funds managed by J.C. Flowers & Co., a global private investment firm. The deal, which is expected to close in Q2 pending standard conditions, marks the end of Wefox’s broader restructuring effort. Financial terms were not disclosed. Wefox said the sale will improve its financial flexibility.

3 weeks ago | beinsure.com | Yana Keller

Insurance Australia Group (IAG) reached an agreement with the Royal Automobile Club of Western Australia (RAC) to acquire RAC’s insurance business in a deal valued at A$1.35 bn ($870 mn). The agreement includes a 20-year exclusive distribution deal for RAC-branded home, motor, and specialty insurance products across Western Australia. IAG will deliver general insurance services for RAC’s 1.3 mn members.

3 weeks ago | beinsure.com | Yana Keller

The U.K. Competition and Markets Authority (CMA) has opened a merger inquiry into Aviva plc’s planned acquisition of Direct Line Insurance Group plc. The CMA is accepting public comments on the deal until May 29 and plans to issue a Phase 1 decision by July 10. The agency is reviewing whether the acquisition would create a merger situation and if that could significantly reduce competition in any U.K. market for goods or services.

3 weeks ago | beinsure.com | Yana Keller

The U.K. Financial Conduct Authority (FCA) plans to update insurance regulations to cut outdated or duplicative rules. The goal is to reduce costs, support industry growth, and improve access to coverage as a risk management tool. A key proposal introduces a new definition for large corporate insurance buyers, removing them from certain FCA rules. The FCA said large firms can manage risk without the same regulatory oversight, unlike smaller commercial policyholders who still need these protections.

3 weeks ago | beinsure.com | Yana Keller

Insurance broker Gallagher developed a $1 bn industry solution to help airlines avoid grounding their fleets immediately after a hostile nuclear detonation. New solution is intended to prevent major disruption for passengers and avoid costs that could reach hundreds of millions of dollars. It offers $1 bn in required liability coverage, pending approval from a dedicated group of insurers.