During the last summer travel season, Latvian insurers paid out EUR 1.66 million to their clients for various types of accidents. 68% of this amount represents reimbursements for travelers' medical expenses and repatriation, according to data collected by the Association of Latvian Insurers (LAA).

In January-May 2024, Ukrainian insurance companies increased MTPL GWP by 25.8% to UAH 3.8 billion (~EUR 86.36 million), while at the same time, premiums on e-policies increased by 39.6% to UAH 3 billion, Forinsurer reports with reference to the МTIBU (Motor (Transport) Insurance Bureau of Ukraine).

From January to May 2024, total GWP of the TAS group amounted to UAH 1665.72 million (~EUR 37.86 million), which is 45.4% more y-o-y. In the Motor Hull segment, the company collected UAH 317.25 million, or 19.05% of its total GWP and 29.9% more y-o-y, Forinsurer writes.

Following the necessary regulatory and competition approvals, Generali CEE Holding BV, the parent company of Generali subsidiaries in the CEE, announced it has completed the acquisition of 4LifeDirect sp. z o. o., an innovative life insurance distribution company in Poland.

WTW, a leading global advisory, broking, and solutions company, announced the introduction of IMI Plus, an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private equity firms and real estate strategies.

Zurich Insurance Group announced an agreement to acquire AIG’s global personal travel insurance and assistance business (AIG Travel) for USD 600 million, plus a potential additional earn-out payment.

The Insurance and Reinsurance Distributors Association of the Croatian Chamber of Commerce (HGK) has become a member of BIPAR (European Federation of Insurance and Financial Intermediaries), osiguranje.hr informed.

Heavy and prolonged precipitation in late May and early June recently triggered severe flooding in central Europe, with insured losses in southern Germany and Central Europe ranging between EUR 2.0 to EUR 3.0 billion (USD 2.1 to USD 3.2 billion), as of early June 2024, according to Moody’s RMS Event Response estimation.

Earnix, the leading global provider of AI-based SaaS solutions for financial services, today announced a global collaboration with NTT DATA, a digital business and IT services leader, to support leading property and casualty insurance carriers with cloud-based intelligent solutions for pricing, rating, underwriting, and policy personalization. By seamlessly integrating Earnix’s comprehensive end-to-end solution with NTT DATA’s expertise in data migration, the partnership improves insurers time to market and ability to leverage data for innovation.

Zurich Insurance Group announced an agreement to acquire AIG’s global personal travel insurance and assistance business (AIG Travel) for USD 600 million, plus a potential additional earn-out payment.

On June 26, the Polish Ministry of Finance submitted three draft regulations for public consultation, Gazety Ubezpieczeniowa announced. The proposed acts pertain to new limits for guaranteed sums in liability insurance for agency activities and brokerage operations, as well as guarantees for agency activities performed by agents offering supplementary insurance.

UIB Asia Reinsurance Brokers Pte Ltd announced is set to enhance its capabilities and market presence in Asia with the addition of four esteemed professionals to its team, effective July 1, 2024. This strategic move underscores UIB Asia’s commitment to excellence and its ambition to deliver unparalleled service to clients across the region.

Optio Group, a leading specialty MGA, announced the appointment of Deepak Soni as Chief Executive Officer.

The German Insurance Association (GDV) announced it has taken an important step towards accessibility and inclusion by providing on its own consumer portal "Die Verversicherunger", texts about insurance products in plain language, available both in written and audio form.

GFIA – the Global Federation of Insurance Associations -, has published its response to a consultation by the International Association of Insurance Supervisors (IAIS) on its draft application paper, ‘Supervising diversity, equity, and inclusion (DEI) – the governance, risk management and culture perspective’.

In Q1 2024, 23 million Poles had life insurance, including 11.9 million through group insurance. This number is comparable to the previous year. Overall, life insurance premiums amounted to PLN 5.9 billion (EUR 1.36 billion), marking a 6.0% y-o-y increase. The payouts reflect the current mortality situation in Poland, reaching about EUR 1 billion.

According to the new Vehicle General Safety Regulation adopted in 2022, starting 7 July, new cars throughout Europe must be equipped with various assistance systems (ADAS), to assist the driver and help better protect passengers, pedestrians and cyclists across the EU.

Voluntary insurance of property in Kazakhstan from January to April 2024 increased by 7.9% y-o-y and amounted to KZT 98.9 billion (EUR 208.28 million). It is noted that a year earlier the growth of the segment was 13.1%, Allinsurance.kz writes.

Estonian insurers posted aggregate business worth EUR 169.62 million in Q1 2024, or 9.51% more y-o-y, according to quarterly figures, published by the Estonian National Statistics Board.

During January-March 2024, the Lithuanian insurance market grew by 11.84% y-o-y to EUR 393.58 million, according to the market figures published by the Bank of Lithuania.