Fitch Ratings affirmed the financial strength of Uzagrosugurta and its life insurance subsidiary Agros Hayot at BB- with a Stable outlook, the agency said.

Munich Re generated a profit of EUR 1,154 million (vs. EUR 1,585 million) in the second quarter of 2023, and EUR 2,425 million (vs. EUR 3,066 million) in the first six months of the year.

Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year, compared with a net income of USD 157 million and an ROE of 1.6% for the same period in 2022. Swiss Re representatives informed the company maintains its guidance for full-year targets.

From 2024, the insurance market regulator will adjust regional coefficients when calculating MTPL tariffs depending on regional unprofitability, and thus the tariffs for the most massive type of insurance will reflect actual risks of vehicle owners in a particular region of Kazakhstan, Allinsurance.kz wrote.

After 24 years with Munich Re Group, Clemens Muth, currently Chief Underwriting Officer at ERGO Group, has decided to leave the company at the end of 2023 with the expiry of his current contract to pursue other personal interests. Edward Ler, currently Executive Vice President and Head of Southeast Asia region at Chubb Asia Pacific in Singapore, has been appointed as his successor as of 1st January 2024.

Fitch Ratings affirmed the financial strength of Uzagrosugurta and its life insurance subsidiary Agros Hayot at BB- with a Stable outlook, the agency said.

The Talanx Group generated a record Group net income of EUR 827 million in the first half of 2023 and is confident of exceeding its FY Group net income target of EUR 1,400 million, as the German insurer informed in a statement.

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurer of Allianz Group, part of Allianz Commercial, reported HY 2023 total gross premium written of EUR 6.583 billion, 10% more y-o-y.

Subject to substantial interest rate and market volatilities and in view of the current ongoing weather extremes, Vienna Insurance Group expects a profit before taxes for the Group in a range of EUR 700 - 750 million for the full-year 2023 under IFRS 17/9, as the Austrian insurer informed in a statement.

TUW PZUW (Polski Zakład Ubezpieczen Wzajemnych), the largest mutual insurance company in Poland, has exceeded 600 members, which means this number doubled in less than four years. TUW PZUW has a 34% market share and is the only insurance company with an international rating (A-), Gazeta Ubezpieczeniowa reports.

The recent devastating storm of August 7 caused multiple losses, the amount of compensation in Latvia reached approximately EUR 13-14 million, according to the president of the Latvian Insurers Association, Janis Abasins, the Latvian news source wrote.

Serbian insurers ended Q1 2023 with total GWP worth RSD 35.9 billion (EUR 306 million), 13.95% more y-o-y, according to the end-quarter statistics published by the National Bank of Serbia (NBS).

The Slovenian insurance market totaled EUR 825.3 billion at the end of March 2023, an 8.3% increase y-o-y, according to the Slovenian Insurance Association's quarterly figures. Life insurance GWP posted a negative subunit rate of -0.2% y-o-y to EUR 197.3 million, while the general insurance segment increased by 11.2% y-o-y to EUR 628 million - or 76.1% of total GWP.

At the end of March 2023, the insurance market of North Macedonia totaled MKD 3.5 billion (EUR 57 million), up by 17.8% y-o-y, according to quarterly data published by the local Insurance Supervision Agency.

International General Insurance Holdings Ltd. (IGI) reported very good financial results for the first half of 2023, continuibg the trends set by the first quarter of the year. The company is optimistic with regards to the next quarters and year-end results.

Italian group Generali reported gross written premiums worth EUR 42.2 billion in H1 2023, which is by 3.6% more y-o-y, mainly driven by significant P&C growth (+10.6%). The net result improved to EUR 2,243 million, from EUR 864 million 1H2022.

Between 2006 and 2020, compensations paid by Slovenian insurers for damagse caused by natural disasters amounted to EUR 850 million, the Slovenian Agency for Insurance Supervision said. Damages to real estate account for the largest share of the compensations paid, followed by damage to cars.
Looking back, the highest compensations were paid in 2008. In the whole year, insurance companies paid out almost EUR 140 million euros for damages caused by natural disasters. Rainfall with hail and strong gusts of wind on 15 and 16 August 2008 resulted in the highest compensation paid for an individual event, which amounted to almost EUR 85 million.

Teodora Petkova, who has been leading starting May 2021 UniCredit's business in Eastern Europe for two years - with direct responsibility for Bosnia and Herzegovina, Bulgaria, Croatia, Romania and Serbia, and joint responsibility for Russia, will now also be responsible for the group's banks in Central Europe.

Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions confirmed that Peter Spires has decided to step down as General Counsel to pursue fresh challenges in the Lloyd’s market.

Anadolu Sigorta, Turkiye's second biggest non-life insurer, is expected to report a positive net result in 2023 with underwriting continuing to make heavy losses, reports Middle East Insurance Review citing Fitch Ratings.