This week in insurance: AI adoption accelerates, premium growth slows, Zurich raises bid for Beazley

Philippine-based GCash is giving away insurance coverage to borrowers of GLoan feature.

The insurance industry saw a week marked by rapid growth in AI adoption, signs of slowing premium growth amidst tighter margins, and a series of notable corporate developments.

Generative artificial intelligence (AI) in insurance is slated to reach $1.4b in 2025, according to the Business Research Company.

The market is likely to pencil a compound annual growth rate of 28.5%, bagging $4.8b by 2030.

Insurers are heading into 2026 with slower growth and tighter margins, according to Deloitte’s global 2026 insurance outlook. 

After several years of strong pricing, non-life premium growth is expected to cool as competition increases and rate rises become harder to sustain.

The International Association of Insurance Supervisors (IAIS) said global insurers remain financially strong, but rising investments in private credit, growing geopolitical fragmentation, and wider use of artificial intelligence are creating new risks that require closer regulatory attention.

In its 2025 Global Insurance Market Report, the IAIS said insurers continue to show solid solvency, liquidity, and profitability, with systemic risk at the global level slightly lower than last year and still well below that of the banking sector.

Beazley plc said it has received a higher takeover offer from Zurich Insurance Group after rejecting an earlier bid that it said was too low.

Zurich has proposed to 100% of Beazley for 1,280 pence (~$17.15) per share in cash. 

This comes after an earlier offer of 1,230 pence (~$16.48) per share made on 4 January 2026, which Beazley’s board rejected on 16 January.

GCash’s lending arm, Fuse Financing, Inc. and GInsure is giving away insurance coverage to borrowers of GLoan feature.

The Philippine-based fintech said the offer is only available for a limited time.

Its newest in-app feature, GLoan Protect, provides borrowers with free loan and health insurance, underwritten by Oona Insurance Corporation, for every GLoan disbursement worth a minimum of $8.00.

Lockton Sime Insurance Brokers Sdn. Bhd. (formerly Sime Darby Lockton Insurance Brokers Sdn. Bhd.) has announced that Lockton has become the company’s majority shareholder, effective 31 December 2025.