In 1Q2024, the TAS group, which is one of the top-3 market leaders, increased its sales by 45.7% y-o-y, to UAH 961.21 million (~EUR 22.72 million), Forinsurer writes.

Uzbekistan has approved the Regulations on the procedure for applying penalties to insurers to ensure implementation of the Resolution of the President “On comprehensive measures for further development of the insurance market”, the National Agency for Prospective Projects of Uzbekistan (NAPP) reports.

German insurance group Talanx AG informed that its General Meeting approved all resolutions proposed by the Board of Management and Supervisory Board, including the proposal on the appropriation of the distributable profit, by a very large majority. Thus, shareholders voted to increase the dividend per share by 35 cents (roughly 18 percent) to EUR 2.35.

BMS Re, the specialty reinsurance arm of the global broking group BMS, announced the appointment of six new hires to its dedicated MGA business, ProLink Solutions (“ProLink”). Previously, the ProLink team consisted of 15 individuals. The current appointments are increasing the team's capacity to support raising demand for their expertise.

German insurers expect significantly more losses from insurance fraud, reaching over EUR 6 billion. While the share of suspected cases in all claims reports remains unchanged, at about 10%, claims inflation is pushing the absolute figures up.

International General Insurance Holdings Ltd. (IGI) announced that it will begin trading for the first time at Lloyd’s starting May 9, 2024, demonstrating the company’s long-term commitment to the London market.

Thanks to below-average major-loss expenditure, a high return on investment, and very good operational performance in all business segments, the Munich Re’s Q1 net result increased significantly to EUR 2,140 million. The Group confirmed its expectations for a EUR 5 billion profit in 2024.

American International Group (AIG) announced that Kelly Lafnitzegger will join AIG as Executive Vice President and Chief Human Resources & Diversity Officer (CHRO), effective June 1, 2024. She will report to Peter Zaffino, AIG Chairman & Chief Executive Officer, and will be a part of AIG’s Executive Leadership Team.

AIG - American International Group announced at the end of April that David McElroy will retire from AIG effective May 1, 2024. David McElroy “has agreed with AIG to accelerate his retirement date for personal reasons and will remain available to the Company”.

Slovene re/insurer Zavarovalnica TRIGLAV informed in a statement published on the Ljubljana Stock Exchange Rules web-site that Jure Valjavec a Supervisory Board member of Zavarovalnica Triglav resigned with effect from 1 June 2024.

The regional insurance market of the ex-USSR* ended 2023 in euros almost unchanged, the total GWP decreased by only 0.21% to EUR 29.11 billion as xprimm statistics show.

The insurance sector of Tajikistan ended FY2023 with TJS 430.5 million (EUR 35.59 million), which is 40.73% more y-o-y in local currency, as data from the National Bank’s report shows.

At the end of 2023, the insurance sector of Uzbekistan grew by 29% to UZS 8,059.726 billion (EUR 586.94 million), as data published by the National Agency for Prospective Projects of the Republic of Uzbekistan show.

At the end of 3Q2023, the insurance sector of Uzbekistan grew by 33% to UZS 5,912.201 billion (EUR 460.76 million), according to the data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.

Global re/insurance broker AON informed its total revenue in the first quarter increased 5% to USD 4.07 billion compared to the prior year period, while total operating expenses in Q1 2024 increased 9% y-o-y to USD 2.6 billion.

The largest and most important annual meeting of insurers will again take place in Opatija this year, on May 8-10, at the Amadria Park Grand Hotel 4, Opatija, Cvideta, the Croatian Insurance Bureau announced.

According to the Association of Estonian Insurance Companies (EKsL), last year insurers paid for 29,000 glass damages through voluntary vehicle insurance, the total loss of which was EUR 17 million.

The total contribution of the insurance sector in GDP amounts to EUR 2.5 billion, insurancedaily.gr writes with reference to the EAEE annual report (Hellenic Association of Insurance Companies) for 2023.

Insurance company BALTA (PZU group) exceeded EUR 169.6 million in GWP in 2023, which means 17.3% growth. Its total paid claims also increased, slightly exceeding the threshold of EUR 87 million, while the company's profit last year reached EUR 20.4 million, the Latvian Insurers Association (LAA) said.

The total assets of insurance companies in Moldova at the end of 2023 amounted to MDL 4.97 billion (~EUR 0.25 billion), which is MDL 740.8 million, or 17.5% more y-o-y, bizlaw.md reports.