Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan announced that Pat Donnelly has been appointed as President, Marsh Specialty and Global Placement, effective immediately. He will continue to be based in Chicago and reports to Martin South, President and Chief Executive Officer, Marsh.

Global insurance broker announced the appointment of Charles Williamson as CEO of Victor, its leading global managing general underwriting business. He succeeds Brian Hanuschak, who has been named Chairman of Victor. The appointments are effective August 1.

Dutch insurer Achmea announced that Nienke Meijer was appointed as a member of Achmea’s Supervisory Board for a period of four years. The appointment has been approved by the Dutch central bank. Nienke Meijer fills the vacancy that arose when Lineke Sneller stood down in April.

Global reinsurer Swiss Re informed in a statement that the Board of Directors proposes Jacques de Vaucleroy for election as Chairman at next AGM in April 2024

At the end of July, German re/insurance group Allianz announced that Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance business of local Allianz Property & Casualty (P&C) entities will begin to trade as “Allianz Commercial”.

UK insurer Aviva has signed a contract with Barclays UK to purchase its home insurance portfolio, which comprises 350,000 customers.

Global commercial insurance prices increased 3% in the second quarter of 2023 (down from a 4% increase in Q1), according to the Global Insurance Market Index  released by the insurance brokerage company Marsh. The second quarter marks the 23rd consecutive quarter of pricing increases.

In 1H2023, the Armenian insurance sector increased tax payments to the state treasury by 10%, providing total of AMD 1.010 billion (~EUR 2.40 million), of which AMD 855.1 million were direct taxes, with an annual growth of 9.2%, ArmInfo reports.

In 2023, about 420,000 hectares of sown areas were insured in Azerbaijan. The number of appeals to the Agricultural Insurance Fund in connection with damage to sown areas, according to Fuad Sadygov, Chairman of the Board of the Fund, has reached 7,000 year to date, Trend writes.

The number of farmers insuring their land is growing in Moldova. The amount of compensation for farmers is 70% of the sum insured, while for cattle breeders the amount is even higher, said Minister of Agriculture and Food Industry Vladimir Bolea, noi.md wrote.

The MTPL market in Ukraine from January to June 2023 grew by 32.3% y-o-y. According to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine), Ukrainian insurers increased MTPL GWP to UAH 3.8 billion (~EUR 94.81 million), including on e-policies to UAH 2.78 billion (+48.1%), Forinsurer reports.

On 27 July 2023, the international rating agency Standard & Poor's (S&P) confirmed Vienna Insurance Group's (VIG) rating of "A+" with stable outlook. “This means that VIG continues to be one of the companies with the best rating in the ATX of the Vienna Stock Exchange”.

Dutch financial group Aegon announced the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.

The Allianz Group announced that it had completed a transaction regarding the sale and transfer of its operations in Lebanon to Global Gate Capital (GGC Group), a leading Asset Manager, as the Munich-based group streamlines its operations.

According to the 1H results, the MTPL loss ratio in Armenia stabilized at 64%, having slightly decreased from 65% in the same period of 2022, while much lower than 81% in 2021, and 73% in 2019, ArmInfo reports.

The Central Bank of Azerbaijan (CBA) predicts that by the end of 2023, the insurance sector will amount to AZN 1.2-1.3 billion (~EUR 0.68 billion), as was stated by CBA Director General Ziya Aliyev at the scientific and practical conference "Successful Ways to Resolve Insurance Disputes", ABC.AZ wrote.

In 2022 the Central Bank of Azerbaijan (CBA) spent AZN 1.05 million (USD 620,000) on insurance services, Trend reports.

Belarus plans to change the regulation in the field of insurance (currently, insurance activities are regulated by decrees of the President of the Republic of Belarus), which is designed to ensure consistency, complexity, and stability of insurance activities, BELTA reports. The draft law will soon be submitted to the House of Representatives.

In Tajikistan, the insurance sector saw positive results in key indicators, as was announced by the experts of the National Bank at the final meeting on activities of this sector of the economy for the first half of 2023, Sputnik reports.

According to the 1H results, the MTIBU (Motor (Transport) Insurance Bureau of Ukraine) made almost 4,000 payments from the Bureau's Victim Protection Fund for a total of UAH 225 million (~EUR 5.61 million), as the Bureau stated in its press release.