German reinsurer Hannover Re announced it will combine its global business in the areas of cyber and digital to “further strengthen its underwriting expertise by creating a new specialty reinsurance business unit”.

Reinsurance broker Guy Carpenter, part of Marsh McLennan, announced the appointment of Ben Savill as CEO of Pacific, effective 1 April, 2024. Savill will be based in Sydney and report to Tony Gallagher, CEO of Guy Carpenter Asia Pacific.

Polish insurer PZU informed in a statement that on 27 March 2024, the Company's Supervisory Board (SB) appointed new President of the PZU SA Management Board and other three Members. “The resolutions came into force upon adoption. All appointments are effective as of 12 April 2024 for a joint term of office covering three full fiscal years 2023–2025.”, informed PZU.

Dutch insurer Achmea and Canada's Fairfax Financial Holdings Limited have reached an agreement on the sale of online insurance agency Onlia to Southampton Financial Inc..

Lloyd’s re/insurance marketplace FY2023 solid profitability on both the underwriting and investment sides, and a strong balance sheet.

The CEO of the Azerbaijan Insurance Association (ASA) Elmar Mirsalayev held a meeting with the Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Azerbaijan Gurbanmammet Elyasov. At the meeting the parties agreed on establishing ties in insurance, Trend reports.

The Competition Council in Moldova declared the economic concentration operation between Transtest and Moldasig compatible with the competitive environment. Thus, the company that owns the Banzai brand can acquire 80% of Moldasig, one of the insurance market leaders, bizlaw.md reports.

In 2023, despite an impact of the difficult global situation on the national economy, the development of the insurance industry was stable, as stated by Deputy Chairman of the National Bank of Tajikistan Sirojiddin Ikromi, the Khovar national information agency of Tajikistan wrote with reference to the National Bank of Tajikistan.

TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 669.95 million (~EUR 16.22 million) in premiums in the first two months of 2024, which is 37.7% y-o-y, Forinsurer reports.

Global insurance broker Marsh, part of Marsh McLennan, announced the launch of a new insurance facility for custodians of digital assets, including financial institutions. “The largest facility of its kind, it provides insurance capacity up to USD 825 million and is available to Marsh clients globally”.

Latvian Insurers Association announces opening of registration for the 19th international conference “Insurance and Reinsurance in the Baltics” on 25 April 2024, which will take place in Riga and online.

How trustful is a potential business partner? Who certifies its trustfulness, its creditworthiness? Ratings are the first check point when deciding whether to do business with an entity. Join the AM Best's CEE Insurance Market Briefing – Vienna, on 17 April, not only to take the pulse of the fast-evolving challenges in the insurance field, but also to find out more about the rating building blocks, the meanings behind the assigned ratings.

The Third Annual Conference of the Eastern European Risk and Insurance Association (EERIA) will take place between 19 - 21 September 19, 2024, organized by the Faculty of Economics and Business Zagreb. 

To meet the EU’s climate targets and help speed up society’s transition to a net-zero economy, investments in sustainable activities are needed. As long-term investors with an overall balance sheet measured in tens of trillions of Euro, insurers and IORPs have an important role to play.

The insurance sector of Moldova ended 2023 with double-digit growth (+18.80%), total GWP reached MDL 2.93 billion (EUR 151.67 million), according to data published by the National Bureau of Statistics of the Republic of Moldova. At the same time, market growth in euros was more impressive – almost 26%.

The German operations of global reinsurer SCOR will explore how to take advantage of DGTAL’s AI-powered platform DRILLER and its claims assessment function. A first pilot will be launched for the assessment of disability claims starting in April 2024. 

In the first two months of 2024, Ukrainian insurance companies concluded 1,124.1 thousand MTPL contracts, which is 2.37% more y-o-y. In January-February 2024, total GWP in the segment amounted to UAH 1.43 billion (+22.6%)/~EUR 34.63 million, according to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).

In 2023, insurance companies in Kyrgyzstan received a net profit of KGS 457,532.8 thousand after taxes (~EUR 4.64 million), which is KGS 131,673.6 thousand or 40.4% more y-o-y (KGS 325,859.2 thousand), the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic said on its website.

At the end of 2023, the insurance market of Estonia totaled EUR 638.44 million in terms of GWP, up by 15.89% y-o-y, according to the year-end market data published by the Estonian National Statistics Board.

For the first time in the last four years, there has been a trend towards increasing sales of new cars on the Belarusian market. Thus, in 2023, car dealers sold 25,408 cars, which is 47.5% more y-o-y, Insurance in Belarus magazine wrote.