wefox has successfully secured funding of EUR 151 million. This consisted of a EUR 76 million capital raise primarily from its existing investor base as well as refinancing of an existing credit facility with EUR 75 million from Searchlight Capital Partners’ credit fund, Searchlight Opportunities Fund II. The funding follows the successful completion of the Group’s business restructuring program, including the closing of the sale processes for the Liechtenstein-based wefox Insurance AG and the Italian companies wefox MGA S.r.l. and wefox Services Italy S.r.l., and puts wefox on a clear path to profitability for the full year 2025.

A record-breaking 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow of high-net-worth individuals (HNWIs) by any country since international investment migration advisory firm Henley & Partners and global wealth intelligence firm New World Wealth began tracking millionaire migration 10 years ago.

According to this morning’s HMRC data, Insurance Premium Tax (IPT) receipts hit £648 million in April 2025 – kicking off the start of the new tax year at a record high.

It marks a £33 million or 5% increase from the same month last year (April 2024), which initiated a record year of receipts - totalling at £8.88 billion (2024/25),and exceeding the 2023/24 full year total of £8.15 billion by £737 million or 9%.

Generali Employee Benefits (GEB) Network announces a new strategic partnership in the United Kingdom, reinforcing its commitment to enhancing its International Employee Benefits offer.

• Unum joins Generali Employee Benefits Network as its new employee benefits partner in the UK market for Group Risk products.
• Generali UK branch transfers the renewal rights of its employee benefits (Group Risk) business to Unum
• Generali UK branch employee benefits team to be welcomed to Unum

Bupa Australia has announced it is investing further in preventative primary healthcare which includes a new network of Mental Health clinics, supported by virtual health and Medical Centres to meet growing consumer demand.

Scottish Widows, part of Lloyds Banking Group, has partnered with insurance automation firm Sprout.ai to trial the use of artificial intelligence (AI) designed to speed up life and critical illness insurance claims and underwriting.

Vitality, a leading health and life insurance provider, is working with global analytics software leader FICO to deliver personalised experiences for its 1 million members.

Unique in the health insurance market, the Vitality Care Hub powered by FICO^® Platform offers a fully digital journey including instant authorisation, online consultant booking and integration with a GP referral. Since its implementation, fewer than 28% of Vitality member claims are now started over the phone, compared to over 90% in 2019. Consequently, Vitality’s specialist claims teams have more time to provide personal support for complex claims. 

In October 2023, MAWDY – a global insurance, reinsurance and services company and part of the MAPFRE Group entered into a collaboration with Blink Parametric. The partnership set out to explore the expansion of parametric travel insurance solutions across the global MAWDY assistance product portfolio.

Analysis by Broadstone of the latest Financial Lives Survey¹ from the Financial Conduct Authority uncovers the rapid growth in the take up of health insurance products following the surge in NHS waiting lists.

The data shows that 14% of the UK adult population now hold Private Medical Insurance (PMI), a total of 7.6 million people which has increased from 6.7 million in 2020. Health insurance is most popular among those in the middle of their career with 18% (1.7 million adults) of those aged 35-44 and 19% (1.6 million adults) of those aged 45-54 holding a PMI product.

Pacific Prime has been awarded the title of “2024 Outstanding Partner of Individual High-end Medical Insurance” by MSH China. The award was presented in Shanghai by Gary Lin, MSH (Shanghai) Business Director, in recognition of the intermediary’s solid performance and partnership in the high-net-worth client segment.