From January 26 to February 7, 2026, insurance and InsurTech M&A blended headline carrier moves with targeted distribution and tech plays. Meiji Yasuda and Radian closed multi‑billion‑dollar acquisitions that push them deeper into US term life and Lloyd’s specialty, while Zurich advanced an £8B bid for Beazley that could reshape the global cyber and specialty landscape. At the same time, WTW’s purchase of tech‑enabled broker Newfront, a string of regional roll‑ups by Hilb, WalkerHughes, Novacore, FMIG, Howden, Gallagher, Olea and K2, and intra‑InsurTech deals like HPN–Orange and Akur8–Matrisk show capital flowing toward distribution control, specialty underwriting and embedded AI capabilities
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The last two weeks of January made one thing clear: insurance isn’t being “disrupted” anymore—it’s being rewired. Capital flowed decisively toward AI-native platforms, vertical specialists, and embedded distribution models, while full-stack replacement narratives continued to lose oxygen. From Gyde and Indigo redefining brokerage and underwriting economics, to Zurich backing embedded auto insurance via TrueCar, the signal is consistent: advantage now comes from infrastructure, not ambition.

February didn’t produce a mega-round.
It produced something more important.
Artificial Labs. Noldor. ManageMy. Equal Parts. Lassie. Chamber Cardio. Pasito.
Different segments. Same pattern.
Capital is moving into underwriting systems, data infrastructure, agency platforms, benefits AI, and claims integration.
Insurance isn’t being disrupted.
It’s being rewired — at the control points.