Solvency II reforms will not be a ‘free lunch’ for insurance sector, Bank of England says…Keep up with what has been happening this week in our latest insurance news round-up…

Miller acquires Japanese broker Lead Insurance Services

Independent insurance and reinsurance broker Miller has acquired Tokyo-based Lead Insurance Services, cementing a longstanding relationship between the two businesses.

Cyber insurance startup Coalition valued at $5B after latest $250M funding round

Startup Coalition Inc., which provides cybersecurity insurance policies and breach detection software for businesses, today announced that it has secured a $250 million funding round at a $5 billion valuation.

Solvency II reforms will not be a ‘free lunch’ for insurance sector, Bank of England says

The Bank of England (BoE) has said its post-Brexit shakeup of the rules that govern the UK’s insurance industry will not be a “free lunch” for the sector, that puts policyholders at risk.

Cowbell doubles reinsurance capacity

Cyber insurance provider Cowbell Cyber has announced an agreement with Palomar Excess & Surplus Insurance Company. The agreement expands Cowbell’s relationship with Palomar, doubling the available reinsurance capacity for Cowbell Prime 250, Cowbell’s cyber coverage for businesses with up to $250 million in revenue.

Insurers launch industry-wide campaigns to raise protection awareness

Domestic and foreign-funded insurance firms are launching a variety of campaigns featuring technology enablement through multiple platforms in China to raise protection awareness among the public.