According to the National Bureau of Statistics, the insurance sector of Moldova grew by 10.90% to MDL 2,421.91 million (EUR 124.52 million) at the end of 3Q2024. At the same time, paid claims grew by 26.02% and reached MDL 901.87 million (EUR 46.37 million).

The insurance sector of Kyrgyzstan grew by 56.29% at the end of 3Q2024, reaching KGS 3,734.84 million (EUR 39.80 million), according to data published by the Service for regulation and supervision of the financial market of Kyrgyzstan.

At the end of 3Q2024, the insurance sector of Belarus amounted to BYN 1,929.51 million (EUR 538.31 million), which is 17.46% more y-o-y in local currency, according to data published by the Ministry of Finance of the Republic of Belarus.

Oak Reinsurance (“OAK Re”), a global reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from 1 January 2025. This follows the approval in principle that was received in September 2024.

Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan announced that it has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-based regional leader in the reinsurance broking and advisory business, the company said in its press-release.

Vienna Insurance Group (VIG) reported for 3Q 2024 GWP worth EUR 11.5 billion (+8.0% y-o-y) and profit before taxes of EUR 666.5 million (+8.5% y-o-y), while the P&C net combined ratio remained the same as previous year at 94.3%. Management confirms profit forecast for 2024

Insurance companies, as underwriters and major institutional investors, hold responsibility and power in many areas of sustainable development. Fortunately, behaving responsibly and pursuing profitability objectives are not mutually exclusive. The sector must ambitiously face the global challenges that threaten not only our entire economic system but the very future of humankind.

Azerbaijan's Bakı Sığorta (Baku Insurance) has announced its liquidation, Trend reports with reference to the Vergilar newspaper of the State Tax Service under the Ministry of Economy.

Belarusian insurers are entering the Chinese market - the first practical step on this path was a business visit of the BAS (Belarusian Association of Insurers) delegation to China, Dalian, on October 14-19, 2024.

ASA Central osiguranje recorded a net profit of 4,454,816 KM in 9M2024, which is 14% more y-o-y, osiguranje.hr writes with reference to the report published on the website of Sarajevo Stock Exchange.

Fitch Ratings has assigned Croatia's top insurer Croatia Osiguranje (Crosig) an Insurer Financial Strength (IFS) rating of 'A-' (strong) with a stable outlook, SeeNews reports.

The insurance industry remains one of the main pillars of the Cypriot economy, providing stability and protection to consumers and businesses, especially in times of uncertainty, said Constantinos Kalopsidiotis, Assistant Deputy Commissioner of Insurance at the 46th Annual General Meeting of the Association of Insurance Companies of Cyprus (SAEK), cyprusinsurancenews.com writes.

During the first 9M2024, Sava Insurance Group increased its business volume by 14.7% to EUR 814.7 million, with significant growth in all operating segments. Double-digit growth in GWP was achieved in both the non-life (EU 17.2%, non-EU 15.0%) and life business (EU 11.7%, non-EU 14.1%), while reinsurance premiums also increased by a solid 7.9%.

Urgent measures are needed in the compulsory motor third-party liability insurance, according to AcnTURK Insurance general manager, Ali Murat Disci in his article titled “Traffic Insurance is not just Traffic Insurance”, published by Insurance Media, Middle East Insurance Review reports.

INGO, which is among top-5 insurers in Ukraine, recorded growth in almost all key indicators in the first 9 months of 2024. Total GWP amounted to UAH 2.46 billion (~EUR 53.67 million), which is 23.5% more y-o-y.

On November 14, the international rating agency Moody's Ratings announced in its official press release that it upgraded the financial strength rating of Uzbekinvest insurance company to Ba2 with a stable outlook, the insurer writes.

Zurich Insurance Group (Zurich) presented a new three-year plan at its Investor Day, building on successful strategy execution, one year ahead of the conclusion of the current cycle 2023-2025, benefiting from the successful execution of its strategy and a better-than-anticipated market environment.

In 3Q 2024, the Triglav Group's earnings before tax stood at EUR 124.7 million vs. the EUR 10.1 million loss recorded the previous year mostly because of major CAT claims and the price regulation of supplemental health insurance. Net earnings amounted to EUR 106.8 million (9M 2023: EUR –9.6 million).

UNIQA Insurance Group reported positive results for 3Q 2024 financial year: GWP rose by 9.2% to around EUR 6.0 billion and earnings before taxes increased slightly by 1% to EUR 340 million despite by high claims costs after the storm Boris in September.

In line with the goals of the group’s new development strategy of focusing on its core CEE markets, Austrian UNIQA is announcing its withdrawal from Albania, Kosovo and North Macedonia, three markets that account together for just 1.5% of the UNIQA Group's GWP.