Global Insurance Digest: Cloud Shifts and Major Acquisitions

The week of 23 to 27 February 2026 proved to be a transformative period for the global insurance sector, characterised by aggressive digital migration, significant consolidation in the Australasian and European markets, and high-value capital restructuring in Asia.

Strategic Shifts: Cloud and Consolidation

A primary highlight of the week was the deepening of the partnership between Sompo Group and Guidewire. Sompo has committed to a global expansion of its Guidewire Cloud Platform usage, migrating its legacy on-premises applications to the cloud. This transition aims to revolutionise the insurer’s underwriting, policy administration, and claims processing through enhanced data agility and cloud-native tools.

In the commercial sphere, Swiss Re Corporate Solutions announced its intent to acquire the global trade credit and surety unit of QBE Insurance Group. This strategic move is designed to bolster Swiss Re’s primary credit offerings, particularly for corporate clients requiring sophisticated risk management in an increasingly volatile global trade environment.

Meanwhile, in Australia, Zurich Financial Services has moved to acquire ClearView Wealth Limited. The deal, valued at approximately $292.90 million (A$415m), was unanimously recommended by the ClearView board. This acquisition represents a significant consolidation in the Australian life insurance market, with shareholders set to receive A$0.65 per share in cash.

Key Financial and Corporate Transactions

The table below summarises the primary financial activities and leadership changes recorded during this period:

Appointments and Regional Growth

The week also saw pivotal personnel moves. Carles Tondo was appointed as Head of Property for QBE Asia, where he will spearhead product strategy and portfolio management across the region. Additionally, the proposed 50:50 joint venture between Manulife and Mahindra & Mahindra took a formal step forward with the appointment of Suresh Agarwal as Managing Director and CEO designate.

In the financing arena, MUFG Bank and Singlife completed a landmark $550 million bilateral financing facility. This transaction is notable for being one of the largest in Singapore's insurance history, intended to facilitate Singlife's redemption of subordinated notes and optimise its capital structure.