The Uzbekinvest insurance company demonstrated positive development dynamics and ensured sustainable growth in key LoBs in 2023, gazeta.uz writes.

The number of MoD active policies in the Polish market amounted to 7.3 million units by the end of Q42023, which 4% more y-o-y, data from the Insurance Guarantee Fund show.

Global broker WTW reported FY2023 revenue worth USD 9.48 billion, an increase of 7% as compared to USD 8.87 billion for the prior year. For the year 2024, the company expects to deliver revenue of USD 9.9 billion or greater.

Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in Q4 and delivered a return on equity (ROE) of 22.3% for the full year. For 2024, the Group targets a net income of more than USD 3.6 billion under IFRS.

Leading specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew SHAW as CEO with effect from 1 April, subject to regulatory approval. SHAW will succeed Brad Irick who is taking up the position of co-head of international business for Tokio Marine Holdings, which is the parent company of Tokio Marine Group, to drive its international growth ambitions.

Insurers in the Central and Eastern Europe ended the first nine months of 2024 with GWP worth EUR 35 billion, up by 11.6% y-o-y. AT the same time, paid claims rose by 3.87%, reaching EUR 16.1 billion.

The second edition of the ESG IN INSURANCE Conference, to be held at the Vienna Marriott Hotel, on 16 April lines up a team of highly relevant speakers. Vienna Insurance Group (VIG) is the conference’s Official Partner, while Slovenian Reimpact Re and Turkish IUC Groups also supporting the event’s organization.

“SorS Academy” was founded with the aim of providing education for insurance professionals in an innovative and unique way. The fast-track training it will provide might be a solution to the obvious problem of a lack of employees in the insurance and reinsurance industry in the area. SorS Academy is headquartered in Belgrade, Serbia.

The Turkiye insurance sector grew by 106.7% to TRY 486 billion (EUR 14.9 billion) in 2023, according to data from the Insurance Association of Turkiye (TSB). In European currency, due to the exchange rates differences, the market change was ~26.5% y-o-y.

From 2015 to 2023 Greece has recorded 16 rainstorms with serious effects on the local economy. Through the Cat Monitor tool created by EAEE (the Association of Insurance Companies of Greece) important data on extreme natural disasters is recorded across the country, insurancedaily.gr writes.

Compared to seven years ago, the situation with car theft in Latvia has significantly improved, and the number of stolen insured cars has decreased seven times, the Latvian Insurers Association (LAA) reports.

AIG- American International Group informed that its Board of Directors has elected Chris Inglis as an independent Director, effective March 1, 2024. “A former National Cyber Director and an advisor to President of the United States Joe Biden on cybersecurity from 2021 to 2023, Inglis is a leading expert on cyber intelligence and security, with a distinguished career in U.S. federal defense, public and private sector service, and academia”.

Insurance broker Marsh, a business of Marsh McLennan, announced the appointment of Lorraine Stack as Risk Management Leader, Europe, effective immediately. She is based in Dublin and reports to Christos Adamantiadis, CEO, and Carolina Klint, Chief Commercial Officer, Marsh McLennan Europe.

Global commercial insurance rates increased by 2% in the fourth quarter of 2023 (down from a 3% increase in Q3), according to the Global Insurance Market Index released by the global insurance broker Marsh, a business of Marsh McLennan. “The fourth quarter marks the 25th consecutive quarter of rate increases”, as the insurance broker informed in a statement.

Lloyd’s has announced it will partner with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone, as part of a landmark sustainable development initiative that aims to put nature and renewable energy at the centre.

The Central Bank of Azerbaijan (CBA) has added Insurance Broker Magnus, a local affiliate of Georgian insurance giant Magnus, to the registry, Trend reports.

Paid claims of Eurasia, the leader of the local market, for the earthquake in Turkey exceeded EUR 15 million or KZT 7.25 billion. Eurasia participates as a reinsurer in the TCIP risk reinsurance program, the Turkish Catastrophe Insurance Pool for compulsory earthquake insurance, which provides insurance for private households, Allinsurance.kz wrote.

A Memorandum on Cooperation of the Association of Insurers, the Association of Banks of Serbia and the Association of Lawyers in the Economy of the Republic of Serbia was signed, the Association of Serbian Insurers wrote.

On January 25, 2024, the rating agency S&P Global Ratings upgraded the long-term financial stability rating of Asia Insurance Sug’urta Kompaniyasi JSC from “B-” to “B”. The forecast is “stable”.

The total charter capital of insurance companies in Uzbekistan in 2023 exceeded UZS 2.3 trillion (~EUR 0.17 billion) and increased by 22.6% y-o-y, the National Agency for Prospective Projects of Uzbekistan (NAPP) reports on its website.