The insurance market should grow in 2024, and even more the year after that. MTPL should grow faster than in 2023 and this LoB should become profitable again, according to Jan Grzegorz Prądzyński, president of the Polish Chamber of Insurance (PIU), PAP Biznes writes.

The 30th Anniversary Insurance Days in Slovenia, organized every year by the Slovenian Insurance Association, were held on June 6-7 at the Grand Hotel Bernardin. This year's event had the slogan “Insurance matters”. It was focused on climate change, natural disasters, cyber threats, health insurance, and strengthening diversity, equity, fairness and inclusion.

In May 2024, MTIBU (Motor Transport Insurance Bureau of Ukraine) made 806 regulatory payments from the Victim Protection Fund for a total amount of UAH 50.1 million (~EUR 1.14 million), which is 24.6% more in number and 25.7% more in amount y-o-y, Forinsurer writes.

Taleh KAZIMOV, Governor of the Central Bank of the Republic of Azerbaijan, will give a Keynote Speech at IIF 2024 – Azerbaijan International Insurance Forum, event organized by the Azerbaijan Insurers Association and XPRIMM, with the official support of the Central Bank of the Republic of Azerbaijan.

Azerbaijan’s exposure and vulnerability to the earthquake risk, as well as the measures to cope with the financial impact of such events were the topics of the A Resilient Financial System Against Catastrophic Risks Conference, organized on 22-23 May, by the Central Bank of Azerbaijan and the Compulsory Insurance Bureau, with the participation of T-Rupt, a Türk Reasürans group company specializing in insurance and reinsurance technology solutions.

COB’s General Assembly, hosted this year by the Motor Insurers’ Bureau (MIB) in the UK, took place on 6-7 June, in Windsor and had a special focus on the 75^th anniversary of COB. Given the significance of the year, it was appropriate that the annual event took place in the country where the COB was originally formed in 1949, and where it operated for many years before its move to Brussels. 

220 jurists and insurance professionals from over 30 countries convened in Athens for the 10th AIDA Europe Conference over 30-31 May 2024. Over two days of stimulating sessions they considered in various ways the core question: Is the insurance market ready quickly and effectively to meet the needs of its range of customers: from consumers to multinationals and beyond?

According to the “Overview of supervised entities’ activities in the financial services sector for March 2024” published by the Croatian Financial Services Supervisory Agency (HANFA), the total gross written premium collected by the 14 insurance companies operating on the market in the first three months of 2024 amounted to EUR 451.9 million, of which EUR 77.7 million (17.2%) related to life insurance premium and EUR 374.2 million (82.8%) to non-life insurance premium.

The insurance market of Kosovo totaled EUR 41.6 million at the end of Q1 2024, 22.3% more y-o-y, according to data provided by the Central Bank (CBK).

According to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA), the business of Montenegrin insurers increased by 12.58% y-o-y in the first quarter of 2024, reaching EUR 34.46 million.

At the end of 1Q2024, the insurance sector of Uzbekistan grew by 32.64% y-o-y and amounted to UZS 2,213.96 billion (EUR 162.80 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.

According to an updated ranking and analysis completed by Insuramore, the value of revenues earned worldwide by MGA, MGU and cover-holder groups (a.k.a. delegated underwriting authority / underwriting agency groups) was around USD 23.9 billion in 2023.

The assets of Bulgarian insurance companies reached BGN 10.74 billion (EUR 5.49 billion) at the end of March, which indicates a y-o-y rise of 4.5%, SeeNews reports referring to the Central Bank’s statement.

The introduction of compulsory health and accident insurance for tourists coming to Georgia is planned to be postponed until January 1, 2026. A draft suspending application of this clause of the law until the end of 2025 has been submitted to parliament, Report writes.

In 1Q2024 the total asset value of insurance companies increased by EUR 301 million y-o-y and stood at EUR 20,588 million, insurancedaily.gr writes.

The Service for Regulation and Supervision of the Financial Market of Kyrgyzstan has developed a draft law “On Insurance and Insurance Activities” that meets the requirements of international standards established by the International Association of Insurance Supervision (IAIS). The innovations are aimed at modernizing the country’s insurance market and increasing its efficiency, the financial portal Akchabar reports.

From January to April 2024, the Ukrainian MTPL market grew by 26.7% to UAH 2.9 billion (~EUR 68.41 million), including premiums collected under e-policies, which increased by 41% to UAH 2.32 billion.

Argenta Holdings Limited, today announces the appointment of Niranjan Nathan as group chief risk officer (subject to regulatory approvals), assuming the role from Carol-Ann Burton, who will continue as group general counsel and compliance director.

"In 1994, the year UNSAR was founded, the Romanian insurance market was about USD 150 million. Thirty years later, it has reached USD 4.5 billion," remarked Alexandru Ciuncan in his opening speech at the International Conference organized by UNSAR, the Romanian insurers’ association, to mark its 30th anniversary.

Global insurance broker Aon announced that Edmund Reese will be appointed executive vice president and chief financial officer (CFO) of Aon, effective July 29, 2024.