News - Insurance
POLAND: In 2024 UNIQA achieved record financial results on the Polish market
UNIQA in Poland ended 2024 with total GWP of PLN 5.5 billion (~EUR 1.28 billion), which is 18.9% more y-o-y. The insurer recorded a 20.7% increase in the property and 11.2% in the life insurance segment. The group's gross profit in Poland (according to the IFRS17) amounted to PLN 371.3 million, which is the highest result in history, the company said.
POLAND: Warta achieved the highest GWP in the property and life insurance segments in 2024
Warta is consistently strengthening its market position, achieving the highest GWP in the property and life insurance segments in 2024 at over PLN 12.6 billion (~EUR 2.94 billion), which means an increase of 17% y-o-y. This is another record year for the Warta Group, the company said on its website.
PZU Group to be transformed into a holding
In 2024, the PZU Group increased its gross insurance revenues by PLN 2.6 billion to PLN 29.4 billion, or 9.5% y-o-y. Net profit attributable to shareholders of the parent company exceeded PLN 5.3 billion, with a high adjusted ROE ratio of 18%, PZU said in its statement.
UZBEKISTAN: APEX INSURANCE reached historical highs in a number of key indicators in 2024
APEX INSURANCE, the leader in the insurance market of Uzbekistan, announced record results for 2024, confirming its stability and leadership position in the insurance market, the insurer writes.
ALBANIA: in the first two months of 2025 the market rises 6.9%
Total GWP of Albanian insurers amounted to ALL 3.8 billion (EUR 38.5 million) in the first two months of 2025, up by 6.9% y-o-y, SeeNews writes with reference to official figures.
FIAR 2025: The future of insurance in focus; Online registration is open.
The forthcoming edition of FIAR – The International Insurance-Reinsurance Forum will once again bring together top industry professionals to discuss key trends and challenges shaping the insurance and reinsurance landscape. The Forum will take place in Sinaia, Romania, between 25 – 27 May.
Registration for Insurance Europe’s 15th International Conference is NOW OPEN!
Insurance Europe’s 15th International Conference will take place in Brussels, Belgium, on 5 June 2025, in a in-person format that will gather hundreds of insurance leaders, policymakers, regulators, young people and civil society from across the globe.
Romania: The cap on MTPL prices will be extended until June 30; UNSAR calls for transparency and market-based solutions to provide for fair pricing for MTPL claims
Government sources confirm the MTPL price cap will be extended one last time until June 30, ending two years of restrictions. Meanwhile, independent repair shops oppose market reference pricing for labor and vehicle replacement costs, keeping the debate on repair pricing rules heated.
Vienna Insurance Group successfully placed a Tier 2 Sustainability Bond
VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe ("VIG") announced it successfully placed on 26 March 2025 Subordinated Fixed to Floating Rate Tier 2 Notes with scheduled maturity on 2 April 2045 in an aggregate principal amount of EUR 300 million (the "Notes") with institutional investors in Austria and abroad.
STATISTICS: HUNGARY FY2024: Insurers' after-tax profit increased by 119.1% y-o-y
The Hungarian insurance sector’s cumulative premium income amounted to HUF 1,695.5 billion in 2024 (EUR 4.13 billion), 12.4% higher y-o-y, data provided by the National Bank of Hungary show. While the life insurance premium income rose by 11%, non-life GWP increased by13.2%.
STATISTICS: MOLDOVA FY2024: 25% increase in the claims paid, driven by the property and motor insurance lines
According to the National Bureau of Statistics, the insurance sector of Moldova grew by 10.75% to MDL 3,251.61 million (EUR 168.38 million) at the end of 2024. At the same time, paid claims grew by 25.3% and reached MDL 1,283.32 million (EUR 66.46 million).
97% of total GWP is generated in non-life insurance, while the share of life insurance continued to decline and now is only a little above 3%. Motor insurance, as always, remains the leading segment in the market portfolio (70.97%). All insurance classes recorded a positive dynamic in 2024.
As for the paid claims’ dynamics by insurance classes, it is worth noting their decrease by 3.4% in life insurance while all non-life insurance lines recorded a rather significant growth of the claim expenses. Property insurance recorded a more than double value of the paid claims, most probably because of the repeated flooding episodes.
As the Bureau notes in its report, in 2024, insurers' revenues and expenses increased by 15.3% and 18.7% respectively y-o-y. Profit before tax decreased by 19.6% compared to the previous year
Access xprimm.com and download the latest Moldovan insurance market statistics in MDL and EUR.
97% of total GWP is generated in non-life insurance, while the share of life insurance continued to decline and now is only a little above 3%. Motor insurance, as always, remains the leading segment in the market portfolio (70.97%). All insurance classes recorded a positive dynamic in 2024.
As for the paid claims’ dynamics by insurance classes, it is worth noting their decrease by 3.4% in life insurance while all non-life insurance lines recorded a rather significant growth of the claim expenses. Property insurance recorded a more than double value of the paid claims, most probably because of the repeated flooding episodes.
As the Bureau notes in its report, in 2024, insurers' revenues and expenses increased by 15.3% and 18.7% respectively y-o-y. Profit before tax decreased by 19.6% compared to the previous year
Access xprimm.com and download the latest Moldovan insurance market statistics in MDL and EUR.
BMS Group completes acquisition of Spanish broker Rasher and its Latin American subsidiaries
BMS Group, the specialist insurance and reinsurance broker, announced it has completed the acquisition of insurance broker Rasher, which specializes in surety, credit, finance and risk management solutions for corporate clients. Rasher is headquartered in Spain and has subsidiaries in Colombia and Peru.
Register now to secure your spot at the Georgian International Insurance Conference 2025!
Online registration is now open for the Georgian International Insurance Conference, a key industry event that will take place on June 12-13, 2025, at the Sheraton Hotel in Batumi, Georgia. The conference will bring together top experts to discuss the current state and future priorities of Georgia’s insurance market in a regional context.
Cumulus Re Cat Bond renews 45% larger, shows Cloud Outage risk can be “tamed”
Parametrix, the provider of digital business interruption risk analytics and solutions, has structured and placed Cumulus Re II, a USD 20 million cloud outage catastrophe bond for Hannover Re, providing retrocessional protection for 2025-26. The larger issue attracted more investors, while Cumulus Re I remained undrawn in its first year.
Romania: employers boost private health insurance offerings amid rising demand
Romanian employers are increasingly including private health insurance in employee benefit packages, with annual coverage ranging from EUR 300 to EUR 1,200 per employee. Demand has doubled since the pandemic, as companies seek to attract and retain talent in an increasingly competitive job market, according to The Brokers Romania.
Aon strengthens its Global Risk Analytics Leadership Team
Aon, a leading global professional services firm, announced the appointment of Oriol Gaspa Rebull as global head of analytics strategy and operations for Risk Capital alongside three additional new leaders.
Aon: Eric Andersen has transitioned from his role as president to serve as a senior advisor
Aon, a leading global professional services firm, announced that Eric Andersen has transitioned from his role as president to serve as a senior advisor to Greg Case, CEO of Aon, through June 2026. The role of president has been assumed by Case, according to the company’s press release.
Marsh announces new Global Chair and Global Head of Energy & Power
Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan announced the appointment of Amy Barnes as Global Head of Energy & Power, effective immediately.
Allianz to sell its 26% stake in its Indian Non-Life and Life Insurance Joint Ventures to Bajaj Group
Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd. to sell its 26% stake in its successful non-life and life insurance joint ventures – Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company – to the Bajaj Group for a total consideration of EUR ~2.6 billion, the company said on its website.
Consortium of Allianz, BlackRock and T&D Holdings to acquire a leading European life insurance consolidator
A consortium including Allianz, BlackRock and T&D Holdings will acquire ownership of Viridium Group (Viridium), a leading European life insurance consolidation platform, from Cinven. Generali Financial Holdings and Hannover Re remain investors, Allianz said in its press release.
1 April 2025