The second day of the 2nd International Insurance Fair began with a panel titled "The Role of Intermediaries in the Future," emphasizing the significance of agents and brokers in the industry and underscoring that a future without intermediaries is not plausible.

The leading Czech insurance broker RENOMIA has bought a stake in the Austrian company Steinmayr & Co and is thus entering the Austrian market. With this acquisition, the insurance premiums that RENOMIA GROUP manages for its clients in the countries of Central Europe will exceed EUR 800 million.

The Insurtech Digital Panel in the second day of the International Insurance Fair and Congress in Antalya brought into discussion not only the necessity and benefits of digitalization in insurance, but also some of the most frequently encountered fears about embracing the technological “revolution” in course.

The “Leadership Role of Companies in the Future” panel was chaired by the NTV Journalist Noyan Doğan. Panelists discussed about the perspectives of the insurance sector for the next decades, touching topics as the sustainable competition, long-term structuring of the sector, challenges and opportunities, role and impact of distribution agents etc. The contributors to the panek were Yavuz ÖLKEN, General Manager, AXA; Şenol ORTAÇ, General Manager, Hepiyi Sigorta; Murat ŞİŞLİ, General Manager, CORPUS and Doç. Dr. Özgür AKPINAR.

The second day of the International Insurance Fair and Congress hosted a panel titled "The Role of Urban Transformation in Disaster Management". During the panel moderated by SEDDK Vice President Mehmet VERIM, top TSB representatives Ahmet YAŞAR, Vice President and Atilla Oksay, Deputy General Manager, as well as KENTHAŞ General Manager Özcan BIÇER and Assoc. Prof. from Marmara University. Dr. Özgür AKPINAR shared their views on the way urban transformation should consider all issues related to disaster management and mitigation.

The main topics of the “Sustainable Insurance in the Future” panel moderated by Mrs. Dilek SAKALLIOĞLU, Vice President, SEDDK were digitalization and technology, strong capital, customer satisfaction, data-based business management, education and employment, climate and environment. The panel’s discussions were joined by Ceyhan HANCIOĞLU, General Manager, MAGDEBURGER; Fahri UĞUR, CEO, SOMPO; Firuzan İŞCAN, General Manager, HDI and Prof. Dr. Erdem KIRKBEŞOĞLU, Başkent University, Insurance and Risk Management Department.

Following the resignation of the former SEDDK President, Mehmet Akif Eroğlu, appointments were made to the chairmanship and membership of the Insurance and Private Pension Regulation and Supervision Board, effective as of today, when they were published in the Official Gazette with the signature of President Recep Tayyip Erdoğan.  

Albanian insurance market posted January-September 2023 GWP of ALL 17.0 billion (~EUR 160 million), or 9.9% more y-o-y, according to the 3Q2023 figures published on the website of the local financial supervisory authority - AFSA.

At the end of 3Q2023, the insurance sector of Armenia grew by 15.67%, reaching AMD 55.03 billion (EUR 131.85 million), according to the data from the Financial Rating of Insurance Companies provided by ArmInfo.

German insurance group Talanx informed it generated Group net income of EUR 1.28 billion in the first nine months of 2023 and has lifted its full-year earnings forecast to “significantly more than EUR 1.5 billion” on the basis of its strong operating performance.

Reinsurance broker Guy Carpenter (GC) part of Marsh McLennan (MMC), announced today the appointment of Michael Shemi as North America Structured Credit Leader, effective immediately.

Global insurance broker Marsh, a business of Marsh McLennan, announced the appointment of John Donnelly as Global Head of Placement, Marsh, effective January 1, 2024.

Aegon will propose to its 2024 Annual General Meeting to appoint Albert Benchimol as a non-executive member of the Board of Directors for a four-year term.

Property & Casualty insurance revenue of Zurich was up 9% driven by strong growth in commercial and retail insurance, supported by rate increases of 6%. Life new business premiums up 23%. Very strong capital position with Swiss Solvency Test (SST) ratio estimated at 266% as of September 30, 2023, the Group said in its press-release.

In 9M2023 AXA’s GWP and other revenues were up 2% to EUR 78.8 billion. P&C Commercial lines premiums up 9% to EUR 25.8 billion, P&C Personal lines up 5% to EUR 13.9 billion, protection premiums up 3% to EUR 11.5 billion, according to the recent press-release of AXA.

Welcoming the professionals gathered at the International Insurance Fair and Congress’ second edition, İbrahim Temiz, Chairman of the Board of Directors for the organizing body, underscored the fair's pivotal role as a significant platform for all industry stakeholders. To illustrate the accuracy of this statement, the inaugural addresses delivered by Hakan Ülgen, President of the TOBB Aydın Chamber of Commerce, and Davut Menteş, the newly appointed President and ex Deputy Chairman of SEDDK (the Insurance and Private Pension Regulation and Supervision Agency) addressed the role of the market bodies in the insurance market’s development and pledged continued collaboration with all stakeholders and a commitment to contribute sensibly to the sector and the nation.

German reinsurer Hannover Re informed it has generated a nine-month 2023 profit of EUR 1.4 billion and is thus confirming its Group net income target for the full year.

Austrian insurer VIG - Vienna Insurance Group informed is strengthening exchange between its Group companies with the newly created department “CO3” – communication, collaboration & cooperation. “The focus is on boosting cross-border know-how sharing as well as on intensifying cooperation between VIG companies located in the same country, thereby enhancing the local multi-brand strategy”.

Today started in Antalya the second edition of the International Insurance Fair and Congress, an event aiming to bring together the professionals of the sector, increasing their cooperation and increasing the insurance penetration rate (insurance rate) in the society. XPRIMM supports the event as Media Partner.

ALLIANZ Group’s total business volume rose by 4.7% to EUR 122.1 billion in the first nine months (9M) of 2023, driven by the P&C business, supported by the L/H business, and partially offset by the development in its Asset Management business segment.