Marsh McLennan - MMC - the global provider in the areas of Risk & Insurance Services and Consulting sector posted Q1 2023 consolidated revenue worth USD 5.9 billion, an increase of 7% compared with the first quarter of 2022.

French reinsurer SCOR announced positive results during the April 2023 renewals. "Like the January 2023 renewals, the April 1, 2023 P&C reinsurance renewals are taking place in a favorable market environment for reinsurers, both in terms of pricing and terms and conditions. In this supportive market, SCOR is actively pursuing the deployment of its capital by building on its relationships with its long-term clients".

For those who have missed the ESG IN INSURANCE Conference on 4 April, or the Motor Insurance Conference on 5 April in Vienna, of for the attendants that would like to remember the content of the presentations, the video footage of both conferences is now available online.

The Slovenian insurance market totaled EUR 2.79 billion at the end of 2022, a 7% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP increased by 3.12% y-o-y to EUR 770 million, while the general insurance segment increased by 8.5% y-o-y to EUR 2.02 billion - or 72.5% of total GWP.

Bulgarian insurance market ended 2022 with a total GWP of BGN 3.61 billion (EUR 1.85 billion), up by 10.87% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC). Per business lines, 82.69% represented non-life GWP (EUR 1.53 billion, 12.69% more y-o-y), the remaining 17.31% being accounted by life GWP (EUR 319.76 million, up by 2.95% y-o-y).

Vienna Insurance Group (VIG) published its reports for the 2022 financial year on 19 April 2023, confirming the preliminary figures communicated on 15 March 2023. The documents undeline not only the remarkable good financial results, but also the strong commitment to sustainability goals.

Tbilisi will host on 4 May the 2023 edition of the International Insurance Conference of Georgia, an event organized at the initiative of the State Insurance Supervision Service of Georgia and with the logistical support of XPRIMM. The Conference will provide for a comprehensive analysis of the current status of the Georgian market, as well as its development perspectives and strategic steps towards a mature, highly professionalized market.

Slovene re/insurance group Sava Re announced the appointment of two employee representatives to the Supervisory Board (SB).

According to the results of the first quarter of 2023, MTIBU made 2.1 thousand payments from the Bureau's Victim Protection Fund for a total of UAH 113.9 million (~EUR 2.85 million).

Nearly three-quarters of about 9,000 cases submitted to the Financial Ombudsman last year concerned property insurance, and almost half of all insurance cases referred to motor policies, Gazeta Ubezpieczeniowa wrote.

The insurance market of all three Baltic countries grew at a similar pace last year, but the Lithuanian market was twice as large as the Latvian and Estonian markets. The fastest GWP growth in 2022 was in Lithuania - 19%, reaching EUR 1.23 billion, followed by Latvia with 16% (EUR 681 million) and Estonia with 13% (EUR 551 million), according to the Latvian Association of Insurers (LAA).

In 2022, total profit of the insurance sector amounted to GEL 210.3 million (EUR 72.90 million), while net profit slightly decreased to GEL 39.2 million from GEL 40 million in 2021, Business Georgia.reports.

The growth drivers of the Estonian insurance market last year were employer's health insurance and private property insurance, including home insurance.

The Board of Directors of the Czech Bureau of Insurers (CKP) decided to end free coverage of damages caused by Ukrainian vehicles as of April 13, 2023.

Croatia Osiguranje, one of the biggest insurers in SEE, plans to distribute a dividend of EUR 14.86 per preference share for 2022. Thus, a total of EUR 980,000 will be paid out in dividend.

In the first quarter of 2023, MTPL loss ratio in Armenia decreased to 62% (vs 69% a year earlier and 74% in 1Q2019). At the same time, there was an increase in the number of concluded contracts by 17.8%, as evidenced by the data of the Bureau of Motor Insurers of Armenia.

2022 was not an easy year for the Belarusian insurance sector, the market growth was about 5%, which is the lowest in the last decade. At the same time, some insurance companies saw growth from 10 to 30% y-o-y. Others, on the contrary, recorded a drop in growth, as Irina MERZLYAKOVA General Director Belarusian Association of Insurers said.

N2G Worldwide Insurance Services - Nationwide and Generali's multinational insurance-focused joint venture - announced that Kevin Strong is the new Chief Executive Officer of the company, succeeding Bill Skapof, who led the company since its foundation in 2020. Kevin Strong's first day as N2G CEO is April 10.

Global insurance broker Aon announced that Sarah Smith, a former member of the Management Committee of The Goldman Sachs Group, Inc., has been appointed to its Board of Directors, effective April 15, 2023.

Bucharest, 19 April 2023 - It's been almost two weeks since Eurohold Bulgaria AD and the EBRD, shareholders of EIG, have submitted a concrete proposal to the FGA, ASF, Government, and Parliament, to spare the Fund from spending the Romanian state and taxpayers' money in covering the RCA damages, following the decision of ASF to revoke the operating license of Euroins Romania and file for the company's insolvency.