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Insurtech investment drops by half in Q2-report

Thursday, August 4, 2022
Insurtech investment drops by half in Q2-report

LONDON (Reuters) - Global investment in insurance technology firms totalled $2.41 billion in the second quarter, down 50% from a year earlier, as investors grew nervous about frothy valuations, broker Gallagher Re said in a report on Thursday.

Insurtech firms make up around 10% of the fintech sector and have seen several successful fundraisings in recent years. German digital insurance startup Wefox last month said it had raised $400 million from investors, valuing the business at $4.5 billion..

But some firms have found it tough to compete with established players and have suffered from the broad sell-off in tech stocks.

U.S. general insurer Lemonade's shares have more than halved since it went public two years ago.

One issue is that blockchain - a database shared across computers in which records are difficult to change - feted a few years ago as a way for insurers to cut costs and become more efficient, had not lived up to its expectations.

"Blockchain is a binary decision - it's wonderful for things like accounting," said Andrew Johnston, global head of insurtech at Gallagher Re, adding that in contrast:

"Insurance is highly negotiated, highly flexible and ongoing. Blockchain also happens to be extremely expensive.”

The drop in valuations could lead to insurtech M&A deals or disposals which were "unlikely" six months ago, Johnston said.

However, insurtech investment picked up slightly from the first quarter, gaining 8%, the report showed.

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16-08-2022 19:21:34 (UTC+7)

EUR/USD

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EUR/USD

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USD/JPY

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 EUR/USD1.0138↑ Buy
 GBP/USD1.2045↑ Buy
 USD/JPY134.32↑ Sell
 AUD/USD0.7008↑ Buy
 USD/CAD1.2904↑ Sell
 EUR/JPY136.17↑ Buy
 EUR/CHF0.9626↑ Sell
 Gold1,792.45↑ Buy
 Silver20.073Neutral
 Copper3.6197↑ Sell
 Crude Oil WTI90.34Neutral
 Brent Oil95.75Buy
 Natural Gas9.056Neutral
 US Coffee C223.13↑ Sell
 Euro Stoxx 503,800.45↑ Sell
 S&P 5004,297.14Neutral
 DAX13,875.31↑ Sell
 FTSE 1007,555.75↑ Buy
 Hang Seng19,830.52↑ Buy
 Small Cap 20002,020.40↑ Buy
 IBEX 358,500.16Neutral
 BASF44.420↑ Buy
 Bayer54.19↑ Sell
 Allianz179.75↑ Sell
 Adidas170.93Neutral
 Lufthansa6.742↑ Sell
 Siemens AG111.30↑ Sell
 Deutsche Bank AG9.015↑ Buy
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# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
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SJC HCM6,600/ 6,700
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Cập nhật lúc 18:54:08 16/08/2022
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