Insurtech Funding Hits a Four-Year High at $2.44B — and AI Companies Took 99.1% of It
Reinsurance News / Gallagher Re·medium signal
Gallagher Re's Q2 2026 report puts global insurtech funding at $2.44 billion, the highest since Q2 2022, with AI-focused companies capturing $2.42B across 95 transactions — 99.1% of the total. Every round above $5 million went to an AI company, and mega-rounds of $100M+ accounted for $1.67B (68.4%), the strongest large-scale quarter since Q4 2021, with earth-imagery firm ICEYE's $520M Series F alone taking a fifth of the quarter. The counter-signal buried in the same data: early-stage funding fell 51.8% quarter-over-quarter from $548.5M to $264.2M, meaning the AI concentration is coming at the expense of seed-stage formation, not in addition to it.