The insurance market of Kosovo totaled EUR 34.2 million at the end of Q1 2023, 14.8% more y-o-y, according to data provided by the Central Bank (CBK).

Unaudited financial results of the Sava Insurance Group for Q1 2023 show a business volume up by 9.9% to EUR 260.2 million, while the net profit reached EUR 20.1 million, significantly higher y-o-y. Estimated solvency ratio was of 180% - 186%, well within optimal capitalization range.

In January-April 2023, 16 out of 20 insurance companies in Azerbaijan increased their GWP y-o-y, while premiums of the remaining 4 companies decreased, ABC.AZ wrote with reference to a statistical report published by the Central Bank of Azerbaijan.

In 2022, total income of 15 insurance companies in Kyrgyzstan increased by 1.8 times compared to 2021 and reached KGS 2.9 billion (EUR 31.71 million). At the same time, the lion stake of income (74.6%) was received from premiums, the National Statistical Committee of the Kyrgyz Republic reported.

Vienna Insurance Group (VIG) continues to be on a growth path in Q1 2023, with premiums written according to IFRS 4 increasing y-o-y by 12.1% to EUR 3,871 million. Despite numerous economic and geopolitical uncertainties, VIG remains cautiously optimistic for 2023 as a whole and still aims for a positive operating performance.

The European Insurance and Occupational Pensions Authority (EIOPA) Board of Supervisors has re-elected two of the Board of Directors members, whose terms of office expire on June 3, for a new term.

German insurance group Allianz announced that Agust?n de la Cuerda is appointed as Commercial Managing Director for Iberia, and David Colmenares as Commercial Managing Director for Latin America.

Lloyd's of London announced the appointment of Rachel Turk in the new role of Chief Underwriting Officer.

In 1Q2023 the insurance sector grew by 13.51% to BYN 541.16 million (EUR 174.40 million). At that, non-life supported the market up-trend, while life insurance fell by almost 16% y-o-y, according to data published by the Ministry of Finance of the republic.

The Generali Group is among the best-in-class in promoting a strategic and purpose-driven narrative, in addressing sustainability and climate change issues, in talent attraction, and in using different formats for even more engaging and effective content, according to Lundquist's ranking.

Cegeka, the Belgian provider of ICT services in Europe, is taking important steps in the world of business technology. The company has just announced the significant expansion of the existing competence center of Business Central and the addition of a new division of Microsoft D365 Finance & Operations.

Guy Carpenter, a business of Marsh McLennan and the leading global risk and reinsurance specialist, today announced that it is to acquire Re Solutions, the leading independent reinsurance broker in Israel. Terms of the transaction, which is expected to close later this quarter, were not disclosed.

The number of complaints submitted to the ISA by unsatisfied policyholders continues to grow. As expected, in 1Q2023 the most numerous complaints were related to motor insurance. At that, no complaint was submitted during this period only for one out of a total of 16 insurance companies, the ISA (Insurance Supervision Agency) said.

Farmers will have access to support to cover the costs of purchasing insurance policies for crops and livestock, including the risk of fire. This is provided for by the procedure approved by the government on May 23, the Latvian news source wrote.

The market recent results show success, and the insurance industry continues to move forward with serious growth rates, especially compared to other areas of the economy, as was emphasized by Konstantin Velev, executive director of Armeets company, during the specialized edition "Insurance - reality and opportunities" broadcast on May 20, ABZ reports.

The premiums written of UNIQA Insurance Group AG rose by 6.5% to EUR 1,980 million in the first quarter of 2023 compared to the same period of the previous year, as the Austrian insurer announced in a statement.

AIG announced that it has entered into a definitive agreement to sell Validus Re, including AlphaCat and the Talbot Treaty reinsurance business, to RenaissanceRe Holdings Ltd. for USD 2.985 billion, consisting of USD 2.735 billion in cash and USD 250 million in RenaissanceRe common shares.

The Insurance Supervision Agency of Slovenia announces the international conference on September 11, 2023 which will focus on artificial intelligence and its role in the insurance industry. Registrations are opened online here.

Thanks to the positive, double digit growth rate recorded for the non-life segment, which offset the significant fall of the life insurance business, the Croatian insurance market saw in the first quarter of the year a very modest, but positive dynamic. GWP increased, overall, by 1.5% y-o-y, to EUR 411.16 million.

With legislation changes ahead and two recent big bankruptcies as a heritage of the last years, the Romanian insurance market is going through a reset moment, going back to reinvent itself on new basis, striving to rebuild customers trust and developing business on better, more sustainable basis. The four conferences of the International Insurance-Reinsurance Forum, FIAR 2023 will analyze the current situation and the market perspectives, inventorying the opportunities for future development.