Poland's top insurer PZU reported a nearly 18% drop in its third-quarter profit due to a high number of claims for flood-related damages, though it still beat market expectations, REUTERS reported.

The UN's COP29 climate talks in Baku, Azerbaijan, are underway at a time when the impact of climate change is hitting communities with growing ferocity. Europe recently faced more unprecedented climate events: the catastrophic floods in Spain, that have tragically claimed the lives of over 220, came just a few weeks after devastating floods in Central and Eastern Europe. These events were preceded by others, such as the wildfires that scorched huge areas in Greece.

Serbian insurers ended 1H2024 with total GWP worth EUR 759.86 million, which is 13.38% more y-o-y, according to the half-year statistics published by the National Bank of Serbia (NBS).

The Slovene insurance market fell by 10.8% in 3Q 2024, consolidated GWP reaching EUR 2.09 billion, according to data provided by the Slovenian Insurance Association. Life insurance GWP increased by 7.7%, to EUR 656.4 million, while non-life insurance decreased by 17.26%, to EUR 1.44 billion.

GWP by the Slovak insurers amounted, according to data provided by the SLASPO - Slovak Insurance Association, to EUR 2.23 billion in the first three quarters of 2024, which is by 9.57% more y-o-y.

At the end of June 2024, the BiH insurance market totaled EUR 279 million, up by 11.6% y-o-y, as the local insurance agency – AZOBIH informed. At the same time, the value of claims paid by insurers increased by 7.74% y-o-y to EUR 110.16 million.

Acrisure London Wholesale (“ALW”) the London-based wholesale division of Acrisure, announces a leadership transition. Effective 1^st January 2025, Tom Quy will be promoted to Managing Director, succeeding John Sutton as he transitions into a new role.

Optio Group, a leading specialty MGA, appointed Oliver Sheppard as Head of Financial Lines with immediate effect. He will be based in London and report to CEO Deepak Soni. Sheppard will head Optio’s Professional Indemnity portfolio, including overall P&L and market capacity responsibility.

Europe’s first ever Retirement Week is organized from 29 November to 3 December at the initiative of 11 European associations, aiming to provide a platform for a wide range of stakeholders to debate the future of pensions in Europe and raise citizens’ awareness of the need to save for retirement.

American International Group (AIG), a leading global insurance organization, announced on November 12 that Christopher Schaper has been appointed Chief Risk Officer of AIG, effective immediately, and will continue to serve on AIG’s Executive Leadership Team.

Marsh McLennan (MMC), a global leader in risk, strategy and people, announced that it completed the acquisition of McGriff Insurance Services, LLC. McGriff’s more than 3,500 colleagues will join Marsh McLennan Agency, the company said it its statement.

Jean-Jacques Henchoz, Member of the Board of Management of Talanx AG with responsibility for the Reinsurance division, will not extend his expiring contract at his own request and will leave the Board of Management of Talanx AG on 31 March 2025, the Group said.

Allianz continued strong performance through the third quarter, achieving strong growth in business volume, operating profit, and net income, while reinforcing its financial strength, according to Oliver Bäte, Chief Executive Officer of Allianz SE. The group’s total business volume advances 17.3% to EUR 42.8 billion in 3Q2024 and rises 9.6% to EUR 133.9 billion in 9M2024, the group’s press release says.

At the end of 3Q2024, against the backdrop of deteriorating premium dynamics, insurers' profit from investment activities barely maintained double-digit growth, while the pace slowed significantly from 36.5% to 15.5%, ArmInfo reports.

The MTPL loss ratio in the Armenian insurance market reached 81.1% as of November 1, 2024 (vs 68.2% a year ago), according to data from the Armenian Bureau of Motor Insurers, ArmInfo reports.

Aviva’s third quarter performance has been very strong. Trading continued to be extremely positive right across the business, underlining the strength of the consistent strategy and the significant benefits of Aviva's scale and diversification, according to the company’s press release.

Damages under compulsory liability insurance this year keep increasing – the average payment for property damage increased by 9.9% as of September 30, 2024. Growth continues to be influenced by higher prices for labor and spare parts in car repair shops and gradual modernization of the vehicle fleet, the Czech Office of Insurers wrote.

For the first time, Allianz placed among the 25 World's Best Workplaces 2024 at #17. This global award builds on the 52 Allianz entities certified as a Great Place To Work®. Allianz’s strategic focus on upskilling, flexible work arrangements, and a strong culture of diversity are distinctive factors in the ranking, the company’s press release said.

Hannover Re, one of the world’s leading reinsurers, generated Group net income of EUR 1.8 billion in the first nine months of the year, the Group said in its press release.

MetLife announced it is among the Fortune World’s Best Workplaces for 2024. MetLife is one of only 25 companies who earned a spot on the list, the press release says.