Over the past three years, there has been a significant increase in both GWP and the number of concluded contracts in compulsory home insurance against fire and natural disasters, the Service for regulation and supervision of the financial market reports.

Due to the storm and rains at the end of July, insurers have so far received 8,366 claims for a total of EUR 17.2 million. At that EUR 4.2 million have already been paid out, settling 2,864 insurance cases, according to data collected by the Association of Latvian Insurers (LAA) as of August 14.

In January-June 2024, the number of claims involving Ukrainian drivers abroad under Green Card policies increased by 12.8% y-o-y and reached 8,000 cases, Forinsurer writes with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine).

From October 1, 2024, the Russian MTPL policy will be valid in Belarus, as announced by Russian Prime Minister Mikhail Mishustin, BELTA reports.

The insurance market of Azerbaijan ended the first half of 2024 with a growth of 11.74% y-o-y, amounting to AZN 725.16 million (EUR 399.10 million). At the same time, paid claims jumped by 58.48% to AZN 356.63 million (EUR 196.28 million), according to the data published by the National Bank.

In the first quarter of this year, life insurance in Kazakhstan increased by 26% y-o-y, while paid claims jumped by 64% at once, Allinsurance.kz reports with a reference to the National Bank’s data.

Over the past three years, there has been a significant increase in both GWP and the number of concluded contracts in compulsory home insurance against fire and natural disasters, the Service for regulation and supervision of the financial market reports.

In Armenia, Ingo insurance company has introduced a completely new product for the Armenian financial market – income protection insurance, ArmInfo reports.

At the end of the first quarter of 2024, total assets of insurance companies in Moldova exceeded MDL 5 billion (~EUR 0.25 billion), which is MDL 58.3 million, or 1.2% more compared to the end of the previous year, bizlaw.md wrote.

In the first half of the year vehicle owners invested EUR 43.1 million in mandatory motor liability insurance and green card policies. Citizens and companies paid EUR 10.2 million during the period for green card policies, the Insurance Supervision Agency (ASO) informed.

The National Agency for Prospective Projects (NAPP) of the Republic of Uzbekistan reported that from August 1, 2024, electronic registration of insurance contracts, as well as issuance of insurance policies for four types of compulsory insurance, was launched through the portal of the Unified Information System service.e-osgo.uz, the agency's website says.

The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina was accepted as a member of the International Association of Insurance Supervisors (IAIS), which is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.

Croatia osiguranje, part of the Adris Group, reported in 1H2024 a consolidated income from insurance sales, including regional branches, of EUR 251 million, which is 14% more y-o-y. The consolidated net profit reached EUR 33.6 million, 10% up y-o-y, the Group announced.

By the end of July, the national coverage rate in the Romanian mandatory housing insurance system exceeded 23%, PAID Romania (the Pool of Insurance Against Natural Disasters) reported. The result comes after a long period when the indicator’s value did not exceed 20%.

Information and communications technology (ICT) service providers are being used more frequently in the increasingly digitalized business world to meet customer demand and improve operational efficiency. According to the joint Report of the three European Supervisory Authorities on the draft Regulatory Technical Standards (RTS), outsourcing ICT services "has become more common, leading to more dependencies and more concentrated ICT risks."

The renewable energy sector has shown resilience in 2024 despite the challenging business environment. However, overall profitability remains challenging due to variable results within energy classes according to the Renewable Energy Market Review 2024, published by WTW, a leading global advisory, broking, and solutions company.

Anders Malmström will succeed John Dacey as Swiss Re Group’s CFO, starting 1 April 2025, as John Dacey will retire from his executive role on 31 March 2025. Dacey will continue to represent Swiss Re as a non-executive director on the boards of FWD and CPIC.

According Munich Re, global losses in 1H 2024 were USD 120 billion, lower than in 2023, a year marked by extremely high losses due to the severe earthquake in Turkey and Syria, which brought the global total to USD 140 billion. In a longer-term comparison, overall losses in the first half of 2024 clearly exceeded the average values for the previous ten and thirty years.

WTW, a leading global advisory, broking, and solutions company has appointedm in early July, Sam Barnes, Camilla Chiatti and Parry Herbert to its international casualty team, based in the London office (part of the direct and facultative global line of business).

The European Commission (EC) has continued with its very ambitious plan to use several sustainability initiatives to drive companies and citizens to change their behaviour and investments in ways which support the Paris Agreement objectives and wider sustainability goals.