“The flooding this week in the Persian Gulf is a stark reminder that flood risk is a truly global peril,” said Steffi Uhlemann-Elmer, PhD, Director of Model Product Management at Moody’s RMS.

Insurance Europe has called on the European Commission to ensure that the forthcoming technical work on Solvency II - the EU's prudential regime that regulates the industry – fully reflects the political agreement made in December 2023.

With a preliminary net profit of approximately EUR 2.1 billion in the first quarter of 2024, the Munich Re Group has made a strong start to the year, significantly surpassing analysts’ expectations of EUR 1,476 million, the Group announced.

Optio Group, the specialty MGA, announced the appointment of Heather Goodhew as an independent non-executive director (INED).

With its reports published today for the 2023 financial year, the Vienna Insurance Group (VIG) confirms the preliminary figures communicated on March 12, 2024: strong growth across all segments and divisions, a significant increase in earnings and the clear positioning as number 1 in CEE.

Global re/insurance broker Aon announced that Shailendra Sapra had been named CEO of the firm’s Reinsurance Solutions in India and a member of the APAC region’s Reinsurance Executive Committee, effective June 1st, 2024.

CROATIA osiguranje, the largest Croatian insurer and one of the biggest market players in Adriatic Region, announced in a statement published on the ZSE web-site (Zagreb Stock Exchange), that that the Management Board Member Vanco Balen will leave the company.

Reinsurer Munich Re announced it strengthens its in-market Underwriting leadership capability in Asia Pacific, Middle East & Africa (APAC MEA). “The mandate of local market Underwriting positions will be strengthened. The high level of expertise that has been built in Munich Re’s Underwriting units allows for greater localization of the Underwriting teams and closer client proximity in-country.”

Allianz Commercial (is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks) announced a key appointment to its global Specialty leadership team taking effect immediately.

Allianz Group announced the completion of the disposal of its 51% stake in Allianz Saudi Fransi to Abu Dhabi National Insurance Company (ADNIC), a multiline regional insurance provider based in the United Arab Emirates and listed on the Abu Dhabi Stock Exchange.

Generali Group announced that starting June 1st, 2024, it will operate as a diversified financial group focused on two main businesses: Insurance and Asset Management, its activity being divided among five business units and three Regions.

Last year, the insurance market in Bosnia and Herzegovina made a slight but very significant step towards development of non-compulsory insurance.

During the period from January to February 2024, more than half of the premiums in voluntary personal health insurance fell on just three insurance companies, and the total GWP in the segment increased by one third, reaching KZT 23.1 billion/~EUR 47.25 million (vs KZT 17.3 billion a year ago), Allinsurance.kz wrote.

The Latvian Insurers Association (LAA) is organizing for the 19^th time the international conference "Insurance and reinsurance in the Baltics", which will be held on April 25, 2024 in Riga, the Association said.

After a decline in the value of insurance sales in the banking channel recorded in 2022, last year there was several percent increase in bancassurance due to improved results from the distribution of policies by banks in both sectors, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

In 2023, Milenijum osiguranje achieved strong growth and business results, and ranked at the very top of insurance companies in terms of service quality, business stability and client trust, the company said.

MMC - MARSH McLENNAN posted Q1 2024 consolidated revenue worth USD 6.5 billion, representing an increase of 9% compared with the first quarter of 2023, while operating income rose 12% to USD 1.9 billion.

The second edition of ESG IN INSURANCE Conference took place in Vienna, organized by XPRIMM, with Vienna Insurance Group as official partner, and Reimpact-Re and IUC Group as partners.

Insurance industry has shown resilience to market events while navigating a heightened operating environment in a world with greater uncertainty and increased inter-connectivity of risks, AM Best analysts Morgane Hillebrandt and Dr. Angela Yeo have remarked at the AM Best's CEE Insurance Market Briefing – Vienna.

Swiss Re published the 2023 Financial Condition Report for the Swiss Re Group and its regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2023.