The MSCI analysis, which involves over 8,500 companies globally, confirmed the “AAA" ESG rating for the Generali Group for the third consecutive year, highlighting Generali as one of the "Leader" companies, which have the highest score in terms of managing risks and opportunities related to sustainability, the Group announced at the end of December in its press release.

Assets of the insurance sector at the end of November 2024 increased by 20.8%, amounting to KZT 3.0 trillion (~EUR 5.55 billion), mainly because of increased income from insurance activities and revaluation of foreign currency.

Total GWP of insurance companies operating in Kosovo increased to EUR 152.8 million in January-November 2024, from EUR 133.3 million in the same period of 2023, according to the central bank data, SeeNews writes.

Groupama's extra-financial (ESG) rating by Sustainable Fitch was upgraded in December from "3" to "2", and the Group's score has improved from 55 to 63, the Group said.

The strategic partnership of Talanx AG with Meiji Yasuda Life Insurance Company (Meiji Yasuda) will expire by mutual agreement on December 31, 2025. Talanx therefore makes use of the termination option of the cooperation agreement agreed upon at the beginning of the partnership, the Group said in its press release in December.

VIG Re, announced organizational changes to its Board of Management, effective 1 January 2025. These changes are designed to further enhance the company's strategic direction and operational efficiency, the company’s press release stated.

Life insurance in Azerbaijan amounted to AZN 79.3 million (~EUR 44.13 million) in January-November 2024. According to the Central Bank, this is AZN 5.2 million, or 7% more y-o-y, Trend writes.

As we bid farewell to another remarkable year, we want to take a moment to express our heartfelt gratitude for your unwavering support and trust in XPRIMM News. In 2024, you accompanied us on a journey of discovery, staying informed and engaging with the stories that matter most.

by Olav JONES, Deputy Director General and Director Economics & Finance, Insurance Europe

In 1H 2024, claims paid for storm-related damages to insured homes by members of UNSAR – the professional association of the Romanian insurers, reached RON 24 million (~EUR 4.8 million), which about 94% of the total compensations paid in 2023 under voluntary home insurance policies, the association said.

The Czech insurance market ended the third quarter of 2024 with GWP worth CZK 173.64 billion (EUR 6.89 billion), up by 7.9% y-o-y, according to the end-September figures published by the Czech National Bank (CNB).

ReConnext, the much-anticipated all-inclusive global reinsurance conference, is set to redefine networking in the reinsurance industry when it takes place on 16-19 February 2025 in Antalya, Türkiye. Designed as a seamless, all-in-one event, ReConnext combines strategic meetings, insightful stage sessions, and world-class facilities under a single, comprehensive offering.

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.