In the first half of 2023, the Moldovan insurance sector grew by 18.29%, reaching MDL 1.39 billion (EUR 70.03 million), according to data published by the National Bureau of Statistics of the Republic of Moldova.

Zurich Insurance Group has appointed Dirk De Nil, currently CEO Zurich Benelux and Nordics, to the role of Global Head of Zurich Resilience Solutions, effective October 1, 2023.

In January-June 2023, the net profit of the Georgian insurance sector amounted to GEL 34.3 million (EUR 11.99 million), which is GEL 24 million more than in the same period last year, Business Georgia wrote. The head of the Association of Insurers, Devi Khechinashvili, speaking about the 1H results, said that the sector has problems that significantly hinder growth.

During January-July of this year, the leader of the Azerbaijani insurance market, PASHA Həyat (PASHA Life), collected AZN 327 million (EUR 174.86 million), which is 32% more y-o-y, ABC.AZ reports.

From January to July 2023 life insurance companies paid out MKD 494 million (EUR 8 million). The five life insurers paid MKD 62.4 million (EUR 1 million) in July alone, which is 19% higher than the same month last year, the ISA (Insurance Supervision Agency) said.

Since September 2023, insurance companies Euroins Ukraine and European Travel Insurance have ceased their participation in the National Association of Insurers of Ukraine (NASU). Both companies left NASU by decision of European shareholders, Forinsurer reports.

Following this year's regular revision, S&P Global Ratings reaffirmed the "A" Financial Strength Rating with a stable medium-term outlook of the Triglav Group and thereby of its parent company Zavarovalnica Triglav and the Group member Pozavarovalnica Triglav Re.

According to information provided on the Russian Union of Motor Insurers (RAMI) website, the first agreement was concluded by the Russian motor insurers’ association within the framework of the newly established Blue Card system, with the Belarusian Bureau of Transport Insurance and became effective on 2 September.

Strikes and riots and civil commotions (SRCC) have escalated rapidly in recent years. In Monte Carlo, the big European reinsurers have reiterated their concern with regard to the increasing political volatility that is leading to an increasing incidence of SRCC events, with a serious potential of accumulation.

The Romanian MTPL insurance market has a new player, after the Council of the Financial Supervisory Authority (A.S.F.) authorized, during the meeting on Tuesday, September 12, 2023, the company EAZY Asigurari S.A. to operate on this line of business.

The GWP of Turkish-based insurers increased by more than two times (+131.3%) on the year in the first six months of 2023, reaching TRY 210.3 billion (EUR 7.5 billion) vs. TRY 90.9 billion (EUR 5.2 billion), data of the Insurance Association of Turkey showed.

As each year, the most recent editorial products of XPRIMM are available at the "Rendez-Vous de Septembre" in Monte Carlo. This year, XPRIMM readers have the opportunity to get complimentary copies of the XPRIMM Insurance Report CEE, SEE & ex-USSR – FY2022, XPRIMM Motor Insurance Report FY2022 and the country report on the Romanian insurance market FY2022.

The insurance market ended the first half of 2023 with RUB 1,073.12 billion (EUR 11.28 billion), which is 24% more y-o-y in rubles. However, in euros, it decreased by 29% due to a sharp change in exchange rate compared to the first half of 2022. Paid claims reached RUB 494.68 billion rubles (+17%)/EUR 5.20 billion, as follows from data published by the Central Bank.

The insurance market of Lithuania totaled EUR 712.6 million at end-June 2023, up by 19.1% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims for insurance losses worth EUR 301.2 million, up by 21.7% y-o-y.

Half year premiums underwritten by Greek insurers members of Hellenic Association of Insurance Companies (HAIC) totaled EUR 2.65 billion, up by 14% y-o-y according to end-June 2023 figures.

Estonian insurers reported H1 2023 GWP worth EUR 318.8 million, 18.4% more compared with January-June 2022, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of life & non-life paid claims and indemnities remained approximately around last year's value (~ EUR 200 million)

The global modeled average annual insured loss from NatCat is USD 133 billion, according to the latest analysis using Verisk’s extreme event solutions models. The insurance industry should expect total insured losses from natural catastrophes well in excess of USD 100 billion every year, while annual losses greater than USD 200 billion are also plausible.

The non-life insurance industry is adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s. Swiss Re Institute expects 2023 to be a transition year – with improving profitability for non-life insurance globally, as the industry continues to adapt prices to an elevated risk landscape, while higher portfolio yields boost net investment income.

The market environment for reinsurers remains promising but faces heightened uncertainty, Munich Re said at Monte Carlo. In the period 2023–2025, the global reinsurance market is expected to see a slight uptick in real average annual growth, somewhat below 2020–2022 levels. Future growth is anticipated to be highest in Asia-Pacific and Latin America.

P&C reinsurance is expected to grow in line with GDP, driven by new risk pools catalyzed by digitalization, higher risk awareness and increasing insurance penetration in emerging markets. Overall, Swiss Re’s analysts expect P&C reinsurance market’s growth to maintain a pace of about 5.4% annually (in USD) until 2032, reinsurers’ representatives stated at the Rendez-Vous de Septembre.