News - Insurance
STATISTICS: TÜRKIYE 1H2025: Market expands 52%, but MTPL losses weight on profitability
Türkiye’s insurance market continued to expand rapidly in the first half of 2025, with total gross written premiums (GWP) up 51.6% year-on-year to TRY 576.75 billion (approx. EUR 12.35 billion, +14.3%), according to the Insurance Association of Türkiye (TSB). The sharp 30% depreciation of the Turkish lira against the euro significantly altered growth figures when expressed in foreign currency, highlighting the ongoing impact of exchange rate volatility on market performance.
Aon: Nick Nudo named as U.S. casualty segment leader for Reinsurance Solutions
Nick Nudo has been named as U.S. casualty segment leader for Reinsurance Solutions, Aon, a leading global professional services firm, reports.
Aon: Simon Chisholm to lead the Reinsurance Solutions’ Global Clients Segment for the Asia region
Simon Chisholm has been named as Chairman of Asia for Reinsurance Solutions, effective January 1, 2026, Aon announced.
LITHUANIA: Long-time CEO of Lietuvos Draudimas resigns
Kęstutis Šerpytis is leaving the position of CEO of Lithuania's largest non-life insurance company Lietuvos Draudimas, delfi.lt writes.
Bosnia and Herzegovina: The Insurance Days of the Republic of Srpska in Banja Luka to start soon
On October 15 and 16, Banja Luka will host the fourth edition of the RS Insurance Days (DORS 2025), which brings together insurance experts from the country and the region, osiguranje.hr reports.
CYPRUS: The merger of ERB Cyprialife with Hellenic Life and ERB Asfalistiki with Pancyprian Insurance creates two very strong insurance companies
The merger of the Cypriot insurance companies of the Eurobank Group was completed on 10 October 2025, with the transfer of all insurance portfolios, assets and liabilities of Hellenic Life Insurance Company Limited and Pancyprian Insurance Limited to ERB Cyprialife Limited and ERB Asfalistiki Limited respectively, as Eurobank Limited announced, insuranceforum.gr reports.
GEORGIA: Deposit insurance limit to increase
Starting April 1, 2026, the maximum deposit insurance limit in Georgia will be increased from GEL 30,000 to GEL 50,000 (equivalent to USD 18,400), according to a post on the Faeton Telegram channel.
HUNGARY: 49% of Hungarian drivers use vehicles older than 16 years
Nearly half (49%) of Hungarian drivers use vehicles older than 16 years, according to a recent study by Europ Assistance, portfolio.hu writes.
KAZAKHSTAN: By the end of August, the market rises by almost 15% y-o-y
From the beginning of 2025 to the end of August, GWP in Kazakhstan amounted to KZT 1.1 trillion (~EUR 1.75 billion), which is 14.9% more y-o-y, according to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market.
KAZAKHSTAN: S&P Global Ratings upgrades Freedom Life to BB+, outlook Stable
S&P Global Ratings has upgraded the long-term credit rating and financial strength rating of Freedom Life, a top three insurer in Kazakhstan, from BB to BB+. The outlook is stable, according to the agency's report. S&P has also upgraded the insurer's national scale rating from kzAA- to kzAA.
Sava Re’s ‘A’ ratings affirmed by AM Best, outlook stable
On 9 October 2025, AM Best affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Insurance Group. The outlook of these Credit Ratings (ratings) is stable, Sava Re announced.
TURKIYE: Digital transformation is in almost every aspect of insurance operations
The Turkish insurance industry is seeing the impact of digital transformation in almost every aspect of insurance functions, from customer relations to preventing insurance fraud, as Mr Emine Feray Sezgin, vice president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) said at the recent 4th International Insurance Summit organized by the Insurance Association of Turkiye (TSB).
AZERBAIJAN: The Central Bank explains alternative life insurance offerings
The existing life insurance products in Azerbaijan will be presented in a new format. Alternative life insurance offerings include burial insurance for final expenses, critical illness cover for serious health issues, mortgage protection insurance to cover home loans, and guaranteed issue policies for those who can't get traditional coverage.
STATISTICS: KOSOVO 1H2025: 6.6% market growth driven by non-life segment and strong profitability
According to the official data provided by the Central Bank of Kosovo, Kosovar insurers wrote gross premiums worth EUR 87.44 million in 1H 2025, 6.6% more y-o-y. Paid claims reached almost EUR 42.35 million, increasing by 21% y-o-y.
STATISTICS: SLOVAKIA 1H2025: MTPL claims up by 25%, driven by increasing labor raising costs
GWP by the Slovak insurers amounted, according to the official statistics of the Slovak National Bank, to EUR 1.14 billion in 1H2025, which is by 7.98% more y-o-y.
AIG announces Don Bailey’s retirement and a new leadership structure for North America
Don Bailey, Executive Vice President and Chief Executive Officer, North America Commercial Insurance, will retire and step down at year-end to focus on his health, as American International Group, Inc. (AIG) announced. According to the company, there’s a new leadership structure for North America.
Anshuman Srivastava named as Aon’s Reinsurance Global Chief Broking Officer
Anshuman Srivastava has been named as Aon’s Reinsurance global Chief Broking Officer, the company announced. According to the press release, in his new role, Srivastava will continue to collaborate with reinsurers to deliver scalable and future-ready products.
Frederik Borgers becomes the new Head of Performance Management International at UNIQA
Frederik Borgers is the new Head of Performance Management International at the UNIQA Insurance Group, the Group announced. In this role, he will strategically manage international business in UNIQA's core market of Central and Eastern Europe.
Gerardo Polanco named as General Manager of Aon’s Iberia Reinsurance team
Gerardo Polanco has been named as General Manager of Aon’s Iberia Reinsurance team, effective immediately, the company said in its press release.
ARMENIA: 1.6 million people to join the universal health insurance system in 2026
The first phase of implementing the universal health insurance system in Armenia will begin in 2026, with the annual health insurance package set at ADM 129,600 (~EUR 288), according to Armenian Health Minister Anahit Avanesyan, ArmInfo writes.
16 October 2025