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InsurTech funding jumps to $2.44bn in Q2 2026, driven by AI
Gallagher Re said 95 deals raised $2.42bn for AI-focused companies, with every Q2 2026 funding round above $5m going to AI firms.
Gallagher Re’s Global InsurTech Report found InsurTech funding surged to $2.44 billion in Q2 2026, the highest quarterly total since Q2 2022. The report said AI-focused companies attracted 99.1% of total funding during the quarter, pulling in $2.42 billion across 95 deals.
Gallagher Re also reported that every Q2 2026 funding round above $5 million went to an AI-focused company. The firm said InsurTech funding growth was concentrated in a smaller group of investable businesses, with the rebound largely driven by large venture capital and private equity-backed rounds rather than capital from (re)insurers.
In addition, (re)insurance companies took part in 27 technology investments during the quarter, even as venture capital and private equity were the primary drivers of the overall recovery. The report also highlighted a return of the so-called mega-round, with $1.67 billion raised across $100 million+ transactions, the strongest quarter for large-scale InsurTech fundraising since Q4 2021.
Gallagher Re said the quarter’s deal count rose to 107 transactions, the highest level since Q1 2024, while early-stage funding fell 51.8% quarter on quarter. The report added that it examined AI infrastructure, including data centers, and forecast global investment in data center infrastructure reaching trillions of dollars over the coming years.