LIFE IS HARD, a leader in digitalization solutions for businesses based in Romania, announces the winning of a new European funding project, entitled "Work is cool - Students prepared for competition and performance", worth a total of approximately EUR 1 million.

Aon, a leading global professional services firm, named Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. O’Connell will be based in New York and report to Randy Stanco, U.S. strategic business leader for Reinsurance Solutions.

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has appointed Kerry O’Brien as global head of Insurance Asset Management and Liability Solutions, the company said in its press-release.

At the end of 3Q2024, the insurance sector of Uzbekistan grew by 18.64% y-o-y and amounted to UZS 7.01 trillion (EUR 494.28 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.

According to the Insurance Supervision Service of Georgia, the insurance market grew by 20.12% in the first three quarters of 2024, amounting to GEL 982.57 million (EUR 322.37 million).

Together with other six professional associations of the financial world, Insurance Europe has signed a joint statement calling on the co-legislators to deliver on commitments to boost European competitiveness and to avoid concluding the Financial Data Access (FiDA) Regulation before a thorough assessment of its impact across the entire value chain is completed.

Voluntary motor vehicle insurance in Azerbaijan for January-October of this year amounted to AZN 50.69 million (~EUR 27.55 million), which is 19% more y-o-y, ABC.AZ writes with reference to the Central Bank report.

In January-October 2024, total GWP of insurance organizations of the republic amounted to BYN 2,166.1 million (~EUR 0.61 billion), which is 18.9% more y-o-y, according to the Ministry of Finance of the Republic of Belarus.

Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd., the company said.

It is proposed to postpone introduction of fines for the absence of an MTPL policy in Kyrgyzstan for six months, as reported by the Chairman of the Service for regulation and supervision of the financial market of Kyrgyzstan Marat Pirnazarov, economist.kg writes.

The Talanx Group, in cooperation with Talanx subsidiary Hannover Re, has issued its debut catastrophe bond (“cat bond”), buying multi-year protection for earthquake risks in Chile. The bond has a size of USD 100 million, the Group said. The bond provides Talanx with protection for the period between January 2025 and December 2027.

On Thursday, December 5, 2024, the Romanian Association of Insurance and Reinsurance Brokers (PRBAR) elected a new Board of Directors during the organization's General Assembly. Viorel VASILE, CEO of Safety Broker, was elected as the new President of PRBAR.

Macedonian insurers reported aggregate nine-months 2024 aggregate GWP worth MKD 12.18 billion (~EUR 198.17 million), 12.6% more y-o-y, according to the preliminary market figures provided by the Insurance Supervision Agency of North Macedonia.

The Lithuanian insurance market totaled EUR 1.17 billion at end-September 2024, up by 9.57% y-o-y, according to the quarterly figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims from insurance losses worth EUR 526 million, up by 10.8% y-o-y.

On 24 November Vienna hosted a series of business and cultural events organized on the occasion of the 200 years Anniversary of the parent company of Vienna Insurance Group, Wiener Städtische Versicherungsverein. What began from just offering fire insurance in Austria, has become an insurance group that is the CEE market leader.

EIOPA is inviting you to the upcoming public online event, on 11 February 2025, to discuss three consultation papers on Natural catastrophe risks and prevention measures awareness, Biodiversity, Sustainability risk plans.

At its Annual General Meeting today, the International Association of Insurance Supervisors (IAIS) adopted the global Insurance Capital Standard (ICS). Additionally, members endorsed substantial updates to the IAIS Insurance Core Principles (ICPs) and Common Framework for the supervision of internationally active insurance groups (ComFrame).

Responding to a European Commission consultation on the functioning of the EU securitization framework which closed on 4 December, Insurance Europe said it supports regulatory changes to improve the market for securitizations in line with the Commission's objectives.

The Board of Supervisors of EIOPA elected Zuzana Silberová, Executive Director of the Financial Market Supervision Department at the Czech National Bank (CNB) as EIOPA’s new Vice-Chairperson.

With a growing scale of digital possibilities, insurance fraudsters are increasingly creative and, importantly as well, increasingly able to cross borders without much effort. At the same time, strategies to combat fraud remain predominantly national, due to the realities of judicial systems and relevant legal frameworks.