Bulgarian insurance market reported January-September 2023 GWP worth BGN 3.29 billion (EUR 1.68 billion), up by 24.21% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 20.63% to BGN 533.99 million, while non-life insurers' GWP rose by 24.93% to BGN 2.75 billion.

The insurance sector in Bulgaria experienced sustained growth in 2023, and as a result of the pandemic, people are increasingly thinking about protecting their health and life, not just their cars, Ivana Dimova, a member of the Board of Directors of the ABZ (Association of Bulgarian Insurers) believes.

By the end of September 2023, the number of customers covered by private health insurance continued to grow reaching almost 4.7 million, despite the inflation-driven increase in the prices, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

On December 19, 2023 the Romanian Parliament has approved the appointment of the new Council of the Financial Supervisory Authority (ASF). Sorin MITITELU was appointed as Vice President, Coordinator of the Insurance-Reinsurance Sector for a 5 year mandate.

As of December 1, 2023, the insurance sector in Kyrgyzstan amounted to KGS 2,818.2 million (~EUR 29.62 million), which is KGS 659.2 million (30%) more than in 2022 (KGS 2,159.0 million).

Bulgarian Euroins Insurance Group (EIG), part of Eurohold Bulgaria, elected a new Board of Directors, composed of Assen Christov, Kremena Pateva, Todor Danailov and Irena Lalova, as the Bulgarian insurer informed in a statement.

Swiss Re Corporate Solutions appoints Michael Rüsch as Head DACH*, effective 1 April 2024. In this newly created role, Mr. Rüsch will be responsible for managing Swiss Re Corporate Solutions' strategy, development and performance in the German, Swiss and Austrian commercial insurance markets.

New research published by Aviva before January 1^st, reveals that 13.9 million Brits planned to search or book a holiday during the festive season (24 December 2023 – 2 January 2024), with top reasons including saving money on holiday deals and having something to look forward to.

According to reinsurance broker Guy Carpenter, part of Marsh McLennan, a responsive reinsurance market has materialized at January 1 renewals, reflecting ample capacity and a commercial approach to trading partnerships, albeit with continued underwriting rigor.

Italian group Generali informed it has completed the disposal of Generali Deutschland Pensionskasse AG (GDPK) to Frankfurter Leben following the approval by the German Federal Financial Supervisory Authority (BaFin) and the relevant German antitrust authorities.

For the 2024 financial year Hannover Re anticipates Group net income of at least EUR 2.1 billion and hence an increase of 24% compared to the earnings guidance for 2023.

In January-November 2023, the life insurance market in Azerbaijan amounted to AZN 572.82 million (~EUR 309.63 million), which is 27% more y-o-y, Trend reports, citing data from the Central Bank.

According to the Association of Estonian Insurance Companies (EKsL), the average insurance loss from home fires has almost tripled in five years. In home insurance in 2022, there were a total of 425 fires with a total loss of EUR 7 million.

In 2023, the Georgian insurance market showed slight growth, although overall the indicators did not change much. Positive dynamics was observed; the experts note that the insurance sector is returning to its pre-pandemic state, according to the head of the Insurance Association of Georgia, Devi Khechinashvili, Business Georgia repots.

In December this year, due to more than 23,000 farmer applications, insurance premium subsidies worth almost HUF 14 billion (~EUR 36.40 million) were approved for farmers who supplement their risk management tools with agroinsurance, Portfolio.hu reports.

The insurance market in January-November 2023 amounted to KZT 876.1 billion (~EUR 1.74 billion), which is 25.5% more y-o-y. The main growth driver is voluntary property insurance, Allinsurance.kz wrote.

In November this year total payment for damages covered by non-life insurance reached MKD 550 million (EUR 9 million). Compared to October, the value of paid claims in the segment increased by 45%, according to the preliminary data of Insurance Supervision Agency (ISA), the ISA said.

TAS Insurance Group, which is among the top 20 insurers in Ukraine, collected UAH 3,224.32 million (~EUR 81.26 million) in premiums in January–November 2023, which is 46.6% more y-o-y, Forinsurer wrote.

NN Group announced that its subsidiary NN Life has completed two transactions to transfer the full longevity risk associated with in total approximately EUR 13 billion of pension liabilities in the Netherlands. The deals will reduce NN’s exposure to longevity risk and thereby further strengthen NN’s capital position.

VIG - Vienna Insurance Group, one of the largest CEE insurer - becomes a green electricity producer powered by Wien Energie, as the Austrian insurer informed in a statement.