Investors pumped $US1.41 billion ($2.03 billion) into insurtechs in the June quarter, marking the fourth straight occasion where investments have exceeded $US1.2 billion ($1.7 billion).

Willis Towers Watson says in a regular update that property and casualty investments accounted for 49 of the overall 69 deals signed during the period.

About 42% of the $1.41 billion invested took place in the US, down four percentage points from the first quarter.

The decline continues to highlight the rise of insurtech investment centres outside of the US, Willis Towers Watson says.

The UK has the second biggest share of such investments on 16%, followed by China on 9%.

Japan’s Softbank Group stood out with its lead investor role in the quarter’s three largest deals in Lemonade, Collective Health and PolicyBazaar.

“While we rarely highlight individual investors, Softbank’s investment involvement in this latest quarter has been truly seismic and is noteworthy,” Willis Re Global Head of Insurtech Andrew Johnston said.

“While Softbank was not the only investor in these large deals, its [significance] in this space is undeniable.”