The Geneva Association has announced the co-winners of the 2024 Geneva Association Ernst Meyer Prize, which since 1976 has recognized excellent doctoral theses that contribute to the study of risk and insurance economics: Sebastian Hinck (PhD, University of Hamburg) and Jieyu Lin (PhD, Tsinghua University), the association said in its press release.

In January-April 2024, the insurance market of Azerbaijan grew by 16% or AZN 75.31 million. At the same time, the best positive dynamics was recorded in voluntary insurance, ABC.AZ reports with reference to the Central Bank of Azerbaijan.

Polish largest insurer PZU SA (Powszechny Zaklad Ubezpieczen Spolka Akcyjna) informed that on 28 May 28, 2024, the rating agency S&P Global Ratings communicated that the Company's rating outlook has been changed from stable to positive. At the same time, the agency affirmed PZU SA's rating unchanged at “A-”.

Vienna Insurance Group (VIG) increased its gross written premiums by 11% to EUR 4.29 billion after the first quarter of 2024. This corresponds to an increase of 11% or EUR 426 million compared to the previous year’s figure of EUR 3.87 billion. With a solvency ratio of 262% as of 31 March 2024, the Group continues to be excellently capitalised.

Frédéric de Courtois, Deputy CEO of AXA Group, has been elected President of Insurance Europe. He received unanimous support to lead the federation of European insurance and reinsurance associations over the next three years.

The 25-a edition of FIAR, the International Insurance-Reinsurance Forum took place in Bucharest, on 26-28 May, hosting four conferences dedicated to the insurance markets’ trends, the motor insurance business, property insurance business, as well as to the insurance intermediation market.

At the first FIAR 2024 conference, "Insurance Market Trends," Valentin JURCUT, Head of Market Unit Romania, Future Healthcare Group, highlighted the most important technological changes in the field of health insurance during his presentation.

The Property Insurance Conference hosted a very interesting panel of discussions on the topic of agricultural insurance. Among the questions seeking answers there were: why do Romanian farmers not seem to give enough importance to insurance, or what are the most significant barriers to developing this sector of the market?

The second part of the Property Insurance conference focused on agricultural insurance in Romania. The discussions were partly oriented towards exploring the willingness of Romanian insurers to engage in developing nature-based solutions to reduce the exposure and vulnerability of regions to climate catastrophic risks.

According to the National Bureau of Statistics, the insurance sector of Moldova in 1Q2024 rose by only 0.7%, amounting to MDL 669.08 million, while paid claims increased by 9.2%, to MDL 266.70 million (EUR 14.02 million). At the same time, due to more favorable exchange rates, GWP growth was more noticeable in euros – by 6%, to EUR 35.16 million.

American International Group (AIG) announced that Gordon Browne has been appointed Global Head of Specialty, effective June 11, 2024.

Austrian insurer Vienna Insurance Group informed that during Annual General Meeting 2024, Vratislav Kulhanek, Hana Machacova, Martin Simhandl and Agnes Svoob were elected as new members of the Supervisory Board.

VIG Re, Vienna Insurance Group's reinsurance company, announced that Ivana Jurcíkova, its Chief Financial Officer, has been added to Hall of Fame of “the most influential women in the Czech financial sector” by #FinZeny Project (Czech for Women in Finance).

Eurohold Bulgaria AD (Eurohold) and Euroins Insurance Group AD (EIG) have officially filed a Request for Arbitration against the Government of Romania at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC. The claim is in excess of EUR 500 million, informed in a statement the Bulgarian holding.

Higher interest rates around the world are transforming the outlook for life insurance growth and profitability. Savings products are attractive to consumers after a decade of weak demand and low returns.

The "Days of Insurance in BiH 2024" conference will be held from September 25 to 27, 2024 in Sarajevo and will be organized by the Association of Insurance Companies in the Federation of Bosnia and Herzegovina.

According to data from two consecutive surveys by MoitePari.bg and ABZ, within one year the share of people who purchased home insurance has increased by 7%, said Nina Kolchakova, General Secretary of the ABZ, Association of Bulgarian Insurers reports.

Ante Žigman, President of the Board, Croatian Financial Services Supervisory Agency (Hanfa), stated that to achieve the declared goals of the green transition, investments in the European Union in that segment should on average be at the level of about 4.5% of GDP, which for Croatia is about EUR 3.4 billion per year.

The largest independent comparator of insurance and telecom services in Croatia, kompare.hr recently set new standards in the industry by creating a tech platform for digital distribution of motor insurance.

In 1Q2024 Generali’s GWP increased by 21.4% to EUR 26.4 billion, with strong performances in both the Life and P&C segments. Life net inflows returned to positive levels, entirely driven by protection and unit-linked, in line with the Group’s strategy and reflecting the success of commercial actions implemented since 2023, the Group said in its report.