Azerbaijan's Bakı Sığorta (Baku Insurance) has announced its liquidation, Trend reports with reference to the Vergilar newspaper of the State Tax Service under the Ministry of Economy.

Belarusian insurers are entering the Chinese market - the first practical step on this path was a business visit of the BAS (Belarusian Association of Insurers) delegation to China, Dalian, on October 14-19, 2024.

ASA Central osiguranje recorded a net profit of 4,454,816 KM in 9M2024, which is 14% more y-o-y, osiguranje.hr writes with reference to the report published on the website of Sarajevo Stock Exchange.

Fitch Ratings has assigned Croatia's top insurer Croatia Osiguranje (Crosig) an Insurer Financial Strength (IFS) rating of 'A-' (strong) with a stable outlook, SeeNews reports.

The insurance industry remains one of the main pillars of the Cypriot economy, providing stability and protection to consumers and businesses, especially in times of uncertainty, said Constantinos Kalopsidiotis, Assistant Deputy Commissioner of Insurance at the 46th Annual General Meeting of the Association of Insurance Companies of Cyprus (SAEK), cyprusinsurancenews.com writes.

During the first 9M2024, Sava Insurance Group increased its business volume by 14.7% to EUR 814.7 million, with significant growth in all operating segments. Double-digit growth in GWP was achieved in both the non-life (EU 17.2%, non-EU 15.0%) and life business (EU 11.7%, non-EU 14.1%), while reinsurance premiums also increased by a solid 7.9%.

Urgent measures are needed in the compulsory motor third-party liability insurance, according to AcnTURK Insurance general manager, Ali Murat Disci in his article titled “Traffic Insurance is not just Traffic Insurance”, published by Insurance Media, Middle East Insurance Review reports.

INGO, which is among top-5 insurers in Ukraine, recorded growth in almost all key indicators in the first 9 months of 2024. Total GWP amounted to UAH 2.46 billion (~EUR 53.67 million), which is 23.5% more y-o-y.

On November 14, the international rating agency Moody's Ratings announced in its official press release that it upgraded the financial strength rating of Uzbekinvest insurance company to Ba2 with a stable outlook, the insurer writes.

Zurich Insurance Group (Zurich) presented a new three-year plan at its Investor Day, building on successful strategy execution, one year ahead of the conclusion of the current cycle 2023-2025, benefiting from the successful execution of its strategy and a better-than-anticipated market environment.

In 3Q 2024, the Triglav Group's earnings before tax stood at EUR 124.7 million vs. the EUR 10.1 million loss recorded the previous year mostly because of major CAT claims and the price regulation of supplemental health insurance. Net earnings amounted to EUR 106.8 million (9M 2023: EUR –9.6 million).

UNIQA Insurance Group reported positive results for 3Q 2024 financial year: GWP rose by 9.2% to around EUR 6.0 billion and earnings before taxes increased slightly by 1% to EUR 340 million despite by high claims costs after the storm Boris in September.

In line with the goals of the group’s new development strategy of focusing on its core CEE markets, Austrian UNIQA is announcing its withdrawal from Albania, Kosovo and North Macedonia, three markets that account together for just 1.5% of the UNIQA Group's GWP.

Poland's top insurer PZU reported a nearly 18% drop in its third-quarter profit due to a high number of claims for flood-related damages, though it still beat market expectations, REUTERS reported.

The UN's COP29 climate talks in Baku, Azerbaijan, are underway at a time when the impact of climate change is hitting communities with growing ferocity. Europe recently faced more unprecedented climate events: the catastrophic floods in Spain, that have tragically claimed the lives of over 220, came just a few weeks after devastating floods in Central and Eastern Europe. These events were preceded by others, such as the wildfires that scorched huge areas in Greece.

Serbian insurers ended 1H2024 with total GWP worth EUR 759.86 million, which is 13.38% more y-o-y, according to the half-year statistics published by the National Bank of Serbia (NBS).

The Slovene insurance market fell by 10.8% in 3Q 2024, consolidated GWP reaching EUR 2.09 billion, according to data provided by the Slovenian Insurance Association. Life insurance GWP increased by 7.7%, to EUR 656.4 million, while non-life insurance decreased by 17.26%, to EUR 1.44 billion.

GWP by the Slovak insurers amounted, according to data provided by the SLASPO - Slovak Insurance Association, to EUR 2.23 billion in the first three quarters of 2024, which is by 9.57% more y-o-y.

At the end of June 2024, the BiH insurance market totaled EUR 279 million, up by 11.6% y-o-y, as the local insurance agency – AZOBIH informed. At the same time, the value of claims paid by insurers increased by 7.74% y-o-y to EUR 110.16 million.

Acrisure London Wholesale (“ALW”) the London-based wholesale division of Acrisure, announces a leadership transition. Effective 1^st January 2025, Tom Quy will be promoted to Managing Director, succeeding John Sutton as he transitions into a new role.