Zurich Insurance Group announced that it has been informed that Viridium Group will not complete the purchase of Zurich Life Legacy in Germany as planned.

51% of Czechs have taken out life insurance, with the primary reason of protecting their family in case they become unable to provide because injury or illness or death. Providing for their own needs in the event of illness or injury only comes second, a recent CAP survey shows.

According to PIU data, at the end of Q3 2023, the number of active mandatory MTPL policies exceeded 27.7 million in Poland, while the number of settled claims reached 826 thousand, with an average claim amount of about PLN 9.5 thousand.

The UNIQA Group launches a HUB for International Programs in Poland, which will be a competence center for 15 countries in Central and Eastern Europe where the insurer is present.

Dr. Günter Geyer announced that he will no longer be available as Chairman of the Supervisory Board of Vienna Insurance Group (VIG) at the end of his current mandate.

Michaella KOLLER, General Director, Insurance Europe and Matti Leppälä, Secretary General, CEO, PensionsEurope have confirmed their presence as speakers at the second edition of the ESG IN INSURANCE Conference, to be held in Vienna, on 16 April.

The Croatian Financial Services Supervisory Agency (Hanfa) suffered a cyber-attack on its computer system on January 23, 2024. Both the causes and consequences of the attack are still under investigation, HANFA cooperating with all competent authorities to this end and to determine the total damage.

According to the Central Bank of the Republic of Kosovo (BQK), Kosovar insurers wrote gross premiums worth EUR 146.4 million, which is 9.2% more y-o-y. At the same, the aggregated net profit reached EUR 13.3 million in 2023, as compared with EUR 1.3 million the previous year.

At the end of 2023, the insurance market of Azerbaijan grew by almost 26% to AZN 1.222 million (EUR 651.46 million). However, paid claims increased by 35% y-o-y, reaching AZN 587.32 million (EUR 312.97 million), as the data published by the National Bank show.

According to the Overview of the financial services sector – December 2023 published by The Croatian Financial Services Supervisory Agency (Hanfa - total premium collected by insurance companies in 2023 amounted to EUR 1.7 billion, of which EUR 0.3 billion (18.4%) related to life insurance premium and EUR 1.4 billion (81.6%) to non-life insurance premium.

Last year in which Vienna Insurance VIG celebrated its first 20 years of business in BiH, the company was recognized as the number one life insurer in BiH.

The subsidy rate on agroinsurance contracts concluded in 2024 is set at 70% of the insurance premium cost based on the order of the Ministry of Agriculture and Food Industry dated January 17, 2024, according to the fiscal monitoring website.

Global re/insurance broker Aon announced that Jose Antonio Alvarez, former CEO of Santander, has been appointed to its Board of Directors, effective Jan. 24, 2024.

Chubb announced the appointment of Anna Kalls as Country Manager for Sweden and Finland, effective from February 1.

The  2024 Climate and Catastrophe Insight report published by Aon reveals that the 398 global natural disaster events caused a USD 380 billion economic loss during 2023 (2022: USD 355 billion) – 22% above the 21st-century average – driven by significant earthquakes and relentless severe convective storms (SCS) in the United States and Europe.

Aviva announces that it expects to receive approximately GBP 80 million of additional proceeds relating to the sale of Aviva’s stake in Singapore Life Holdings Pte Ltd (Singlife), together with two debt instruments, to Sumitomo Life Insurance Company (Sumitomo Life).

In Azerbaijan, it is planned to increase the assets of the insurance sector from the current AZN 1.9 billion (~EUR 1.02 billion) to AZN 3.7 billion (~EUR 2 billion), Report writes with reference to the “Financial Sector Development Strategy for 2024-2026” approved by the Central Bank of Azerbaijan (CBA).

Insurance against natural disasters will be introduced in Kazakhstan. The Agency for Regulation and Development of Financial Market is working on the introduction of catastrophe bonds together with the World Bank, 24kz writes.

During 2023, ARX and ARX Life paid their clients UAH 1.4 billion (+33% y-o-y)/~EUR 33.23 million, which the company considers a new record, Forinsurer writes.

Thanks to its significant contribution to the development of the insurance sector in Uzbekistan, Gross received an award at the International Finance Awards, which was held in Dubai. The company became the winner in the “Best Non-Life Insurance Company” nomination, Gazeta.uz reports.