The global insurance industry witnessed a flurry of strategic activity between 23 and 27 February 2026, including high-profile partnerships, acquisitions, financing transactions, distribution agreements, and senior leadership appointments.
Strategic Partnerships and Cloud Expansion
Sompo Group, the Japanese insurer, has entered into a strategic partnership with Guidewire Software to broaden its use of the Guidewire Cloud Platform across its international operations. The collaboration will see Sompo migrate its existing Guidewire applications from on-premises systems to the cloud while deploying additional tools to enhance underwriting, policy administration, claims management, and billing capabilities. The move aligns with the insurer’s broader digital transformation strategy aimed at improving operational efficiency and customer experience.
Major Acquisitions
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re, has announced the acquisition of the global trade credit and surety business of QBE Insurance Group. The transaction is expected to strengthen Swiss Re Corporate Solutions’ primary credit and surety insurance offerings and expand its capacity to meet the risk management needs of corporate clients.
Meanwhile, Zurich Financial Services Australia (Zurich) is set to acquire ClearView Wealth Limited via a scheme of arrangement, valuing the life insurer at approximately USD 292.9 million (AUD 415 million). ClearView’s board has unanimously recommended the deal. Upon completion, ClearView shareholders will receive USD 0.46 (AUD 0.65) per share in cash.
Significant Financing Activity
In Singapore, MUFG Bank and Singlife completed a USD 550 million bilateral financing facility, ranking among the largest transactions in the country’s insurance sector. MUFG acted as both capital structure adviser and financier, while Singlife will use the proceeds to redeem USD 550 million of subordinated notes.
Distribution Partnerships
India’s Utkarsh Small Finance Bank Limited has partnered with Kotak Mahindra Life Insurance Company to offer life insurance products and solutions to the bank’s customer base, enhancing product accessibility and financial inclusion.
Leadership Appointments
QBE Asia has appointed Carles Tondo as Head of Property for Asia. Tondo will oversee property strategy, pricing, and portfolio management, ensuring compliance with regional regulatory standards.
Additionally, Manulife and Mahindra & Mahindra Ltd. (M&M) have named Suresh Agarwal as Managing Director and CEO designate of their proposed 50:50 life insurance joint venture, signalling strong leadership for the venture’s market entry.
Summary of Key Developments (23–27 February 2026)
| Category | Organisation(s) | Details |
|---|---|---|
| Partnership | Sompo & Guidewire | Expansion of Guidewire Cloud; migration of existing apps; enhanced underwriting & claims |
| Acquisition | Swiss Re & QBE | Swiss Re acquires global trade credit and surety business |
| Acquisition | Zurich & ClearView | ClearView valued at USD 292.9m; cash offer USD 0.46/share |
| Financing | MUFG & Singlife | USD 550m bilateral facility; redemption of subordinated notes |
| Distribution Tie-up | Utkarsh SFBL & Kotak Mahindra Life Insurance | Insurance solutions for bank customers |
| Leadership Appointment | QBE Asia | Carles Tondo appointed Head of Property for Asia |
| Leadership Appointment | Manulife & Mahindra & Mahindra | Suresh Agarwal named MD & CEO designate of JV |
These developments reflect continued dynamism in the insurance sector, with a focus on digital transformation, strategic acquisitions, capital optimisation, and leadership renewal.