At the end of June 2024, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 618.7 million, up by almost 10% y-o-y, while the amount paid in claims and indemnities increased by 3.77% y-o-y to EUR 355.8 million, according to data provided by the Latvian Central Bank.

North Macedonia's insurance market rose 10.66% to EUR 132.27 million, while in national currency the market growth rate was almost same (+10.49%). Claims paid by insurers increased by 2.92% to EUR 46.71 million, of which EUR 38.30 million were paid in non-life insurance and EUR 8.41 million – life indemnities.

In the first half of 2024, the market grew to UAH 24.21 billion (EUR 558.43 million), which is 13.37% more y-o-y in local currency and indicates an increase in demand for insurance products. Non-life accounted for 89% of the total GWP, while the share of life insurance approached 11%, as data published by the National Bank show.

In January-August 2024 the insurance sector in Albania increased 6.64% y-o-y to ALL 16.3 billion (EUR 165.5 million), SeeNews writes.

Bakı Sığorta has been excluded from the list of insurance companies-members of the Compulsory Insurance Bureau (ISB), ABC.AZ writes with reference to the ISB.

In the first 8 months of this year, the market in Belarus amounted to BYN 1,691.9 million (~EUR 0.48 billion), which is 15.4% more y-o-y in national currency, as reported by the Ministry of Finance of the Republic of Belarus.

The insurance market in Bulgaria can be characterized by positive dynamics and sustainable growth, as over the past 10 years, premium income has increased more than 2.5 times, reaching BGN 4.4 billion (EUR 5.49 billion) in 2023, with annual growth of 21%, according to Veselin Angelov, member of the Board of Directors of ABZ and executive director of Allianz Bulgaria, the Association wrote.

For the damages caused by the late July storm in Latvia, insurers have already paid out EUR 17 million (not including the activity of foreign insurers in Latvia), which is the largest amount of insurance compensation in Latvia for damage caused by a single natural disaster, according to the Latvian Insurers Association (LAA) as of October 2.

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Slovenian reinsurer Pozavarovalnica Sava (Sava Re), SeeNews reports. The outlook of the ratings is stable.

The credit rating agency AM Best confirmed the financial strength rating of "A" (excellent) and the issuer's long-term credit rating of "a" (excellent) on Zavarovalnica Triglav and Pozavarovalnica Triglav Re, the company said.

The sale of the Moscow-based company Raiffeisen Life to the Russian insurance company Renaissance Life has been concluded. UNIQA owned 75% of Raiffeisen Life; the remaining 25% was held by Raiffeisenbank Russia, which belongs to Raiffeisen Bank International, the Group announced.

Insurance Europe, the European insurance and reinsurance federation, informed that Thea Utoft Høj Jensen has been appointed as its new director general. Thea will take over from Michaela Koller, who has served as Insurance Europe’s director general for the past 18 years, on 4 November 2024.

Optio Group, (Optio) a leading specialty MGA, today announces it has acquired a strategic investment in Italian MGA, Heca S.r.l. (Heca), for an undisclosed sum. This investment demonstrates Optio’s confidence in Heca’s potential for continued success, and supports Optio’s European expansion strategy.

GWP and paid claims in Azerbaijan for voluntary travel insurance decreased in January-August 2024, ABC.AZ reports with reference to the Central Bank.

The 2024 edition of the International Insurance Fair and Congress, is gathering top professionals of the sector at the NEST congress hall in Antalya, increasing their cooperation and increasing the insurance penetration rate (insurance rate) in the society . XPRIMM supports the event as Media Partner.

The International Insurance Fair and Congress is carried out with the participation of insurance companies, reinsurance companies, insurance intermediaries, insurance-related organizations, private sector, university-research institutions, local governments, non-governmental organizations and other national organizations.

Moody’s RMS Event Response estimates that insured losses from the flooding in central Europe between Wednesday, September 11, and Thursday, September 19 will likely fall within the range of EUR 2.5 billion to EUR 3.5 billion (USD 2.8 to USD 3.9 billion).

Chair, Personal Insurance Committee, Insurance Europe and Head of Partnerships & Corporate Business Development, Société Générale Assurances, France

Polish insurers wrote gross premiums worth EUR 9.93 billion in 1H2024, 13.8% up y-o-y, almost all business lines recording solid growth rates. Paid claims reached EUR 5.55 billion, 13% more y-o-y. The results denominated in Euro look better due to the y-o-y slight appreciation of the zloty against euro. As such, in the national currency, the market grew by 9.9%, while paid claims by 9.6%.

At the end of 1H2024, the insurance sector of Uzbekistan grew by 13% y-o-y and amounted to UZS 4.27 trillion (EUR 317 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.

In 1H2024, the market amounted to RUB 1,293.61 billion (EUR 13.99 billion), which is 20.55% more y-o-y in local currency. Insurers' paid claims increased by 18% and reached RUB 583.71 billion (EUR 6.31 billon), according to data published by the Central Bank.