Insurance Europe has published a position paper outlining industry recommendations in the implementation of the Insurance Recovery and Resolution Directive (IRRD).

In 2024, health insurance GWP collected by insurance companies operating in Azerbaijan reached AZN 123.1 million (EUR 69.45 million), Trend writes with reference to the Central Bank of Azerbaijan.

Celebrating the milestone of 100 years of the insurance industry in Cyprus, the Cyprus Insurance Association (SAEK) held its traditional ceremony in Nicosia on February 5.

According to statistics from the Estonian Insurance Association (EKsL), Estonian insurers reimbursed EUR 14 million in employer health insurance costs last year, which is a record amount since the introduction of the tax benefit for employers in 2018, the Association said.

Hannover Re, one of the world’s leading reinsurers, announced that it increased the premium income in traditional property and casualty reinsurance by 7.6% in the treaty renewals as at 1 January 2025. The good quality of the renewed business was maintained, while an average inflation- and risk-adjusted price decline of 2.1% was recorded.

SCOR announced January 2025 P&C Reinsurance Renewals results, according to which demand for reinsurance coverage remains elevated. Following an increase in capital supply, the market conditions have become slightly more competitive compared to the peak level of the cycle observed last year.

In 2024, the assets of insurance (reinsurance) organizations in Kazakhstan increased by 25.3% to KZT 3.1 trillion (~EUR 5.67 billion). The increase in assets was mainly due to the growth of income from insurance activities, the International Information Agency DKnews.kz reports.

Employers are increasingly purchasing health insurance, and in 2024 in terms of GWP, this type of insurance was in the leading positions, occupying 22.6% of the insurance market*.

According to the Global Insurance Market Index released by Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan, global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 – and marking the second consecutive quarterly decrease following seven years of rising rates.

MetLife, one of the world’s leading financial services companies, reported fourth quarter 2024 premiums, fees and other revenues of USD 14.5 billion, up 6% compared to the fourth quarter of 2023. Adjusted premiums, fees and other revenues were USD 14.4 billion, up 6% on a reported basis and up 7% on a constant currency basis from the prior-year period.

According to Rankomat data, the average MTPL price in January was PLN 693 (EUR 164). The experts note that MTPL rates increased by 23%, and by 41% over the past two years, respectively. Despite this fact, insurers in the motor insurance segment are recording growing losses caused by increasingly high claim settlement costs, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

The international rating agency S&P Global Ratings today upgraded the credit ratings of the Talanx Primary Insurance Group and its core primary insurance subsidiaries from “A+” (Strong) to “AA-” (Very Strong) with stable outlook due to increasing earnings diversification as well as sustainably improved resilience, the Group said in its press release.

The Talanx Group continued its positive business trend of the first nine months at the end of the year and is expecting Group net income of EUR 1,977 (1,581) million for financial year 2024, based on consolidated unaudited figures, the Group said in its recent press release.

An additional USD 1 billion is needed to expand the powers of the Export Credit Agency (ECA) to insure grain and commodity exports in Ukraine, Vitaliy Koval, Minister of Agrarian Policy and Food, told Interfax-Ukraine, Forinsurer writes.

WTW, a leading global advisory, broking and solutions company, announced financial results for the fourth quarter ended December 31, 2024. Revenue increased 4% over prior year to USD 3.0 billion for the quarter and increased 5% to USD 9.9 billion for the year.

Zurich Insurance Group (Zurich) released its 2025 Outlook for Real Estate Investments "Divergent Paths at an Inflection Point", which delves into the key trends that will shape real estate occupier and investor attitudes over the coming year, the Group said.

Euroins Bulgaria, one of the leading Bulgarian insurers in Eastern Europe, part of Euroins Insurance Group AD (EIG) and Eurohold, the largest Bulgarian publicly-listed holding, is in the process of increasing its capital through the issuance of 25 million new shares, which will raise a total of BGN 100 million (EUR 51.1 million) of its own funds.

Aon, a leading global professional services firm, announced the launch of a new parametric insurance solution designed to address and mitigate losses from hurricane-related storm surge along the coast of the U.S. The new product was developed in collaboration with parametric flood expert Floodbase, and leading global commercial insurer, Swiss Re Corporate Solutions.

According to the FY2024 results, the insurance sector of Kazakhstan grew by 41.38%, reaching KZT 1,679.48 billion (EUR 3.07 billion). More than 58% of all market premiums came from non-life insurance.

The insurance market of Azerbaijan grew by 10.69% in 2024, reaching AZN 1.35 billion (EUR 763.48 million). The growth driver is life insurance, which increased by 16.65% and generated over 54% of all premiums, according to statistics published by the National Bank.