The Albanian insurance market grew significantly in 2024, with gross written premiums reaching ALL 24.505 billion (EUR 249.67 million), 7.02% up y-o-y. Additionally, the number of insurance contracts grew by 8.84%, totaling 1,595,687 contracts for the year, data from the Albanian Financial Supervisory Authority (ASFA) show.

SCOR announced the appointment of Holger Schaefer as Global Head of Casualty & EIL, within SCOR Business Solutions, as of 1st March 2025. Holger will be based in Cologne and will report to Claire McDonald, CEO of SCOR Business Solutions.

Willis, a WTW business, announced the appointment of Derrick Easton as the new Global Head of Alternative Risk Transfer (ART) and Head of Western Europe for Risk and Analytics.

Romanian insurance companies will see a significant reduction in their financial contributions to the Romanian Motor Insurers’ Bureau (BAAR) starting this year, following a phased reimbursement process set to conclude by 2027.

A key concern for Romanian insurers in early 2024 was the 22% rise in daily claims payments, reaching EUR 5.6 million from EUR 4.6 million in 2023, including FGA payouts and insurer reserves, revealed Alexandru Ciuncan, President of UNSAR, the professional association of the Romanian insurers.

SorS Academy has unveiled its lineup of specialized insurance and reinsurance courses for 2025, catering to professionals seeking in-depth knowledge and hands-on expertise. Here’s a look at the key programs:

American International Group (NYSE: AIG) announced that effective immediately Jon Hancock will take on additional responsibilities as it organizes its business into three distinct segments: North America Commercial Insurance, International Commercial Insurance and Global Personal Insurance, AIG said in its press release.

Chubb announced two leadership appointments within its Overseas General Insurance business (COG) to enhance underwriting consistency and drive international growth. Tim Stapleton, Executive Vice President, Financial Lines, Overseas General Insurance, has been appointed to the newly created role of Chief Underwriting Officer, Overseas General Insurance.

Willis, a WTW business, announced the appointment of Pat Donnelly as the new Head of Risk & Broking (R&B), North America, WTW, a leading global advisory, broking and solutions company said in its press release.

Global insurance and reinsurance broking group Aon has reported results for the three and twelve months ended December 31, 2024. Total revenue in 2024 increased 17% to USD 15.7 billion compared to the prior year reflecting acquired revenues from NFP and 6% organic revenue growth.

For the second year in a row, LIGA Insurance tops the list of major taxpayers in Armenia among insurance companies. According to the State Revenue Committee data for January-December 2024, LIGA Insurance ranks 453^rd (vs 384^th a year earlier) on the list, having paid AMD 734.7 million (~EUR 1.92 million) to the state budget, ArmInfo reports.

Nikolay Stanchev, Chairman of the Board of the Association of Bulgarian Insurers (ABZ) and CEO of Generali Bulgaria, speaking about the main trends and prospects of the insurance market in Bulgaria, pointed out that in recent years the market has been developing steadily, and life insurance maintains a good growth rate (9% for the first six months of 2024).

Chubb reported net income for the 4Q2024 of USD 2.58 billion, and core operating income of USD 2.45 billion. Consolidated net premiums written reached USD 12.1 billion, with Global P&C and Life insurance up 6.7% and 7.6%, the company said in its press release.

According to the Estonian Motor Insurance Fund (LKF), there were 33,700 motor insurance claims in Estonia last year, with a total loss of EUR 80 million. In addition, Estonian vehicles caused 2,400 traffic accidents abroad, with a total loss of EUR 10 million, LKF said.

Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, reported financial results for the fourth quarter and year ended December 31, 2024.

MetLife, one of the world’s leading financial services companies, announced it is among Fortune magazine’s 2025 list of the “World’s Most Admired Companies”.

Canadian group Fairfax Financial Holdings completed a shareholder agreement with the European Bank for Reconstruction and Development and became 100% owner of three Ukrainian insurance companies - ARX, ARX Life and UNIVERSALNA, Forinsurer reports.

The State Insurance Organization of Turkmenistan (SIOT) was assessed by the Fitch Ratings international rating agency. It is noted that economic growth of SIOT is reflected in the Fitch Ratings assessments.

Croatia’s leading insurance and reinsurance brokerage, Fortius Inter Partes, has acquired Link Insurance Brokers, a company active in the market since 2017, further solidifying its position as the market leader, Fortius announced.

SCOR announced the appointment of Arta Nasradini as Head of Aviation at SCOR P&C, with effect from 1 February 2025. Arta will be based in Zurich and will be part of the Reinsurance Specialty Lines management team, reporting to Head of Specialty Lines Eric Jenck.