The largest CEE insurance market posted aggregate 3Q2024 GWP worth PLN 63.25 billion (EUR 14.75 billion), up by 9.6% y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers increased by 11% y-o-y to PLN 36.78 billion or EUR 8.58 billion.

Life GWP was up by 4% y-o-y to over PLN 17.7 billion (EUR 4.13 billion), while the non-life insurance segment increased by 11.95% to PLN 45.55 billion (EUR 10.6 billion).

According to the 3Q2024 results, the market grew by 46.20% y-o-y, amounting to RUB 2.40 trillion (EUR 23.26 billion). Investment and accumulative life insurance segments were a powerful driver of the insurance market – they grew to record levels, according to a review of key performance indicators of insurers published by the Central Bank.

The Romanian Government has announced it decided on Wednesday, during its final meeting of the year, the cap on rates and commissions for MTPL insurance policies was extended by another three months, until March 31, 2025. The decision was met with protests from industry, as it threatens insurance brokers’ financial sustainability, as well as the level of financial protection in our society.

 Agile Insurance Group today announced that David Hughes, formerly AXA XL’s head of marine hull and war for the UK and Lloyd’s, has joined as head of marine and as deputy active underwriter of Agile’s Lloyd’s syndicate – Agile Underwriting Services Syndicate AUS2427.

In 2024, SCOR presented its annual Actuarial Awards in seven countries: Australia, France, Germany, Italy, Singapore, Sweden, and Switzerland. This was also the inaugural year for the new SCOR Actuarial Awards in Asia-Pacific. The tradition of the Actuarial Awards date since 1996.

Swiss Re announced its targets for 2025, including a Group net income of more than USD 4.4 billion. The Group aims to grow the ordinary dividend per share by 7% or more per year over the next three years and maintains its multi-year IFRS ROE target of more than 14%, Swiss Re said in its report.

The Talanx Group is setting its new targets for the next three years now that it is set to clearly exceed its 2025 targets a year ahead of schedule.

Sorin GRECEANU, General Manager of BAAR (the Romanian Motor Insurers' Bureau), was elected in early December 2024 as the President of the Council of Bureaux (COB) for a five-year term, starting in June 2025. The COB oversees the international MTPL insurance system, including the Green Card framework.

Following the recommendation of the Compensation, Governance & Sustainability Committee, AXA’s Board of Directors has decided to appoint Ewout Steenbergen to replace Rachel Duan for the remainder of her mandate, that is until the 2026 Annual Shareholders’ Meeting, the press release says.

AON, a leading global professional services firm, and the European Bank for Reconstruction and Development (EBRD) have structured a tailor-made and highly innovative facility supporting the revitalization of the war risk insurance market in Ukraine, the company said.

American International Group (AIG), a leading global insurance organization, announced that is has successfully closed the previously announced sale of approximately 120 million shares (21.6%) of its Corebridge Financial, Inc. common stock to Nippon Life Insurance Company for USD 31.47 per share, for an aggregate purchase price of USD 3.8 billion.

Allianz introduces four new ambitious Group financial targets for the 2024-2027 period at its Capital Markets Day 2024 and commits to an attractive total payout ratio of at least 75% on average, according to the company’s press release.

The MTPL loss ratio continues to grow on the Armenian insurance market, reaching 81.5% in December of this year (vs 70% a year earlier), ArmInfo writes based on data from the Armenian Bureau of Motor Insurers.

KBC Group’s capital remains well above the minimum capital requirements - at the end of the third quarter of 2024, KBC Group’s fully loaded CET1 ratio amounted to 15.2%, well above the new CET1 requirement, the Group said in its press release.

Total GWP of insurance companies operating in Bosnia and Herzegovina’s Federation increased by 9.7% y-o-y to BAM 672.4 million (EUR 343.8 million) in January-November of 2024, SeeNews writes with reference to official data.

The assets managed by insurance companies operating in Bulgaria amounted to nearly BGN 11.3 billion (EUR 5.8 billion) at the end of September, growing by 8.8% y-o-y, SeeNews writes with reference to the central bank.

ANO, the first Croatian insurance broker and one of the leaders on the domestic market, is expanding its operations by entering the market of Bosnia and Herzegovina, osiguranje.hr writes.

UNIQA Hrvatska in the SEE region (Bosnia and Herzegovina, Serbia, Montenegro, Bulgaria, Croatia and Romania), achieved excellent business results in the first nine months of 2024: according to preliminary results, the premium collected grew by 14.4%, and profit before tax amounts to EUR 6.7 million.

MetLife and General Atlantic announced the formation of Chariot Reinsurance (Chariot Re), a to-be-registered Class E Bermuda-based life and annuity reinsurance company. Chariot Re is expected to launch in the first half of 2025 and will have a future strategic reinsurance partnership with MetLife.

MetLife, one of the world’s leading financial services companies, hosted its Investor Day in New York City on December 12 and introduced the company’s powerful five-year growth strategy, New Frontier.