To grow and advance insurance offerings in the fast-changing market, the need for greater efficiency is becoming an increasingly relevant topic in the insurance industry. In this, data- and tech-driven solutions will play an important role.

In 1H2023, the market grew by 17%, reaching GEL 590.99 million (EUR 206.70 million), according to the Georgian Insurance Supervision Service.

The Georgian insurance market ended the first quarter of 2023 with GEL 325.45 million (EUR 116.81 million), which in local currency is almost 22% more y-o-y, according to the Georgian Insurance Supervision Service.

The CIS regional insurance market* ended the first quarter of 2023 with an increase of almost 32% y-o-y, reaching EUR 8.08 billion, according to xprimm statistics.

Chubb announced the appointment of George N. Nikolaou as head of Chubb Business Services EMEA in Thessaloniki, Greece. “In this role, Nikolaou will be responsible for the Chubb technology center launched in late 2022, which will support the development of innovative technologies that enhance the customer experience, increase efficiency, and accelerate the company's digital transformation”.

Reinsurance broker Guy Carpenter part of Marsh McLennan announced the appointment of Julian Enoizi as CEO of Guy Carpenter Europe effective immediately. Julian Enoizi will be based in Europe and report to Laurent Rousseau, CEO of Guy Carpenter Europe, Middle East and Africa, and Global Capital Solutions. In this role Julian Enoizi will be responsible for leading Guy Carpenter’s broking operations across its European offices.

AIG announced that Lucy Fato will transition from her current role as Executive Vice President, General Counsel & Global Head of Communications and Government Affairs to Vice Chair at AIG, effective October 1, 2023.

Health insurance will be fully introduced throughout Uzbekistan by the end of 2026, according to the Presidential Decree.

During the period from January to July 2023, AZN 58.9 million (~EUR 31.49 million) of compulsory real estate insurance premiums were collected in Azerbaijan, ABC.AZ writes.

On the insurance market of Armenia, MTPL loss ratio has been at 64% for a year, which is much lower than 79% in January-July 2021 and 72% in the same period of 2019, ArmInfo wrote.

Lloyd’s re/insurance marketplace reported H1 2023 underwriting profit of GBP 2.5 billion vs GBP 1.2 billion a year before, an investment return of GBP 1.8 billion (vs. GBP 3.1 billion loss) and a profit before tax of GBP 3.9 billion compared with loss of GBP 1.8 billion in H1 2022.

The Service for Regulation and Supervision of the Financial Market under the Ministry of Economy and Commerce of the Kyrgyz Republic (Finnadzor) is taking part in the discussion on creation of a rating agency within the EAEU (Eurasian Economic Union), according to the Service’s website.

Generali Group CEO Philippe Donnet was named "Best CEO" for the second consecutive year in the insurance sector in the 2023 edition of the All-Europe Executive Team annual ranking by Institutional Investor, the specialist magazine and independent research company in the field of international finance.

Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers announced that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz. Heinie Werth, the current CEO of Sanlam Emerging Markets, has been appointed as the CEO of SanlamAllianz.

Following its regular annual rating review, the rating agency S&P Global Ratings (the Agency) affirmed the “A” (strong) insurer financial strength rating on Sava Re and Zavarovalnica Sava. The outlook is stable.

Sava Re expects the costs of the unprecedented storms and floods that hit Slovenia and the Balkans in July and August to reach EUR 100 million. The negative impact on the 2023 result is estimated at EUR 30 million to EUR 35 million. For 1H 2023 business volume up by 11.7% to EUR 495.1 million, while net profit was of EUR 40.0 million.

VIG Re, the reinsurance company of Vienna Insurance Group, announces  today that Sven Trautner will join the company as its Chief Strategy Officer (CSO) and Head of Corporate Development effective from 1 October 2023.

In H1 2023, the Triglav Group's total business volume rose to EUR 955.4 million and its tax before profit amounted to EUR 10.5 million. This year's unexpected price cap on supplemental health insurance in Slovenia resulted in a high loss of EUR 30.9 million in the health insurance segment in the first half of 2023, which had a significant impact on the Group's half-year result.

Extreme weather events between 1980 and 2020 caused economic losses ranging from EUR 450 to EUR 520 billion (depending on the source) and between 85,000 and 145,000 deaths (depending on the source) in the 32 member states of the European Economic Area (EEA) *. Notably, a large proportion of these losses remained uninsured, with percentages varying by event type and European Economic Area (EEA) member state.

On Monday, 11 September, the conference entitled "Artificial intelligence in insurance - evolution or revolution?" will take place in Ljubljana, Slovenia, organized by the Insurance Supervision Agency of Slovenia. The events is the 8^th is a series of already traditional annual international conferences.