AM Best agency confirmed Eurasia's financial strength rating at B++ and its long-term credit rating at bbb+ with a stable outlook, the insurer reports. It is noted that the company has maintained the highest rating among all insurance companies in Kazakhstan from AM Best for many years.

Nomad Insurance, one of the top-10 insurance companies in Kazakhstan, has announced a reinsurance agreement with Coca-Cola HBC, one of the largest beverage producers in the world, the insurer said in its statement.

From January 1, 2025, amendments to the Traffic Regulations approved on December 29, 2023, will come into force in Kyrgyzstan. The amendments introduce fines for individuals (owners or drivers of vehicles registered in Kyrgyzstan) for the absence of an MTPL policy, the Service for regulation and supervision of the financial market reports.

Marsh McLennan (MMC), a global leader in risk, strategy and people, reported financial results for the third quarter ended September 30, 2024.

For over a month, member insurance companies of the SLASPO (Slovak Insurance Association) have been registering claims caused by September's extreme rainfall and subsequent floods in Slovakia, SLASPO said.

E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, anticipates further price increases and improved terms and conditions in the 1 January 2025 renewals in property and casualty reinsurance after losses caused by severe weather events, Hannover Re said in its press release.

The insurance company INGO paid record compensation to farmers – over UAH 231 million (~EUR 5.17 million), Forinsurer wrote. 97% of farmers who participate in the “Meteoprotection” program in the 2024 season received record insurance compensation due to the extremely dry and hot season during the flowering and grain filling time.

A state health insurance system has been launched in Tashkent and Syrdarya region since October 1. The document on its introduction was signed by the President of Uzbekistan in early September, Gazeta.uz reports.

With extreme weather events becoming more frequent and severe, cities face significant risks to their environments, economies and public health. But they also hold the potential to implement creative solutions for climate adaptation and resilience, according to the new research of Zurich Insurance Group (Zurich) and Economist Impact.

Leopoldo Camara, Head of P&C reinsurance for Northern, Central, and Eastern Europe at Swiss Re, highlighted the need for a coordinated approach across the insurance industry in response to increasing natural catastrophes, geopolitical tensions, and interconnected risks.

“We are the advocate of the client. It is our job to make a market; to negotiate in that area around capital versus risk. Reinsurers want to grow, cedents want to buy more,” Julian Enoizi, CEO Europe, Guy Carpenter explained in an interview with Intelligent Insurer from the 2024 Baden-Baden Reinsurance Meeting.

Reinsurers tend to concentrate on pricing risks, but this might lead to missing “the bigger picture”, said Laurent Rousseau, CEO EMEA, Guy Carpenter speaking at the Reinsurance Symposium in Baden Baden. There is a clear difference between value and price, he observed, and the industry should abandon a strictly quantitative view.

24 February 2022 is a day that divided reality. A full-scale war in Ukraine became a reality. Panic, horror, confusion, fear for the lives of relatives, hatred for the enemy – this is just some of the emotions experienced by every Ukrainian on that day and every day since.

Munich Re reported Q3 2024 positive operational performance across all lines of business, resulting in a preliminary net result of about EUR 0.9 billion. The German reinsurer is confident it will surpass its full-year profit target of EUR 5 billion.

At the end of March 2024, the insurance market in Bulgaria totaled EUR 574.66 million, down by almost 1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.

Each stakeholder within the (re)insurance ecosystem should have a clearly defined role if the industry is to remain resilient in response to the growing systemic risk potential, said Laurent Rousseau, CEO, EMEA and Global Capital Solutions, Guy Carpenter, speaking ahead of the Guy Carpenter Baden-Baden Reinsurance Symposium.

After a few years of strong growth, the European reinsurance market should remain dynamic, with demand for property reinsurance protection continuing to grow, Munich Re said, stressing out that to accommodate growing demand, it constantly invests in its underwriting capabilities with experts and models.

The Romanian Insurance Pool against Natural Disasters (PAID) has selected Moody’s to help the organization model and manage earthquake risk. Moody’s partnership with PAID will also include cooperation in sharing claims data to help with the ongoing development of Moody’s RMS Europe Earthquake HD Model.

Re/insurers professionals that will attend the annual Baden Baden Meeting this year have the opportunity to get the first copies of three new XPRIMM reports: XPRIMM Insurance Report 1H2024, Insurance Profile Türkiye FY2023+1H2024; Insurance Profile Georgia FY2023+1H2024.

According to the half-year market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totaled EUR 2.8 billion at the end of 1H2024, up by 6.7% y-o-y from EUR 2.63 billion a year before. The non-life insurance increased by 8.5% y-o-y, to EUR 1.44 billion, while in the case of life business lines, Greek insurers generated about EUR 1.37 billion in GWP, up by 4.90% y-o-y.