American International Group (AIG) announced that Thomas F. Motamed, a Director of the company since January 2019, is retiring from the Board of Directors for health reasons.

Global re/insurance broker MARSH McLENNAN - MMC posted Q4 2022 aggregate revenue of USD 5 billion, an increase of 7% y-o-y. Q4 operating income was USD 680 million, compared with USD 986 million in the prior year period. The consolidated revenue in 2022 was of USD 20.7 billion, an increase of 5% compared to the prior year period, while operating income was USD 4.3 billion.

French reinsurer SCOR appointed Thierry Leger Chief Executive Officer, effective from May 1, 2023. Previously Swiss Re's Group Chief Underwriting Officer, has stepped down and already seized his executive role within the group.

After the break imposed by the pandemic, the already traditional Motor Insurance Conference returns to Vienna, in offline format, under the titles "Reshaping motor insurance business". The event will be hosted by the Bristol Hotel, on 5 April.

During Q1-Q3 2022, the Slovak insurance market totaled EUR 1.43 billion, 10.55% less y-o-y, according to the 9 months statistics published by the National Bank of Slovakia (NBS).

The Czech insurance market ended the third quarter of 2022 with GWP worth CZK 151.47 billion (EUR 6.17 billion), up by 12.55% y-o-y, according to the end-September figures published by the Czech National Bank (CNB).

Cost of living crisis is biggest short-term risk while failure of climate mitigation and climate adaptation are largest long-term concerns, while geopolitical rivalries and inward-looking stances will heighten economic constraints and further exacerbate both short- and long-term risks, according to the Global Risks Report 2023.

Cyber incidents and Business interruption (BI) rank as the biggest company concerns for the second year in succession (both with 34% of all responses), according to the Allianz Risk Barometer 2023.

TUW PZUW, the largest mutual insurance company in Poland, part of the PZU financial group, achieved the strategic goal set for 2024 two years in advance. Last year, it exceeded PLN 1 billion of annual written premiums.

"We are going through a period in which legislative reviews and reports are increasing, the legislation on financial reporting is changing, investor expectations are rising, and competition is intensifying", said Ms Busra Kodaman, actuarial consulting services senior manager at EY Turkey, Middle East Insurance Review writes.

Axa has reached an agreement to acquire Groupama's insurance operations in Turkiye. Groupama Sigorta A.S. and Groupama Investment, which holds the shares of Groupama Hayat A.S., will take over 100% of Bosphorus Holding A.S., Blomberg wrote.

Insurance company INGO, one of the top-10 market leaders in Ukraine, despite a decrease in the total number of reinsurers in the Ukrainian market, has signed new obligatory agreements for 2023 with the support of Western partners, Forinsurer writes.

In Uzbekistan, from July 1, 2023, introduction of the health insurance system will begin in Tashkent, while TJS 30 billion (~EUR 2.69 billion) will be allocated for digitalization of medical institutions, Sputnik writes.

The lower chamber of the Tajik parliament adopted amendments to the law "On Insurance of Savings of Individuals". Along with individuals, it is also proposed to insure savings and deposits of individual entrepreneurs, small businesses, as well as non-profit organizations, ASIA-Plus writes.

In most countries, business interruption insurance is sold as an add-on to either property or multi-risk/all-risk policies. However, there are exceptions, such as the UK, where it is also sold as a standalone policy which covers notifiable diseases, says the report of GILC on Business Interruption.

At the end of 2022, insurance payments to the state budget for compulsory health insurance increased by 38.1%, Trend reports.

In 2022, MTPL loss ratio in Armenia decreased from 79% to 66%, falling below 74% in 2019, driven by a 16.1% annual increase in the number of contracts concluded and a 15.6% increase in GWP to USD 67.3 million , while reducing paid claims by 4.6% to USD 39.8 million, ArmInfo reports citing the Bureau of Motor Insurers of Armenia.

Aon plc, a leading global professional services firm, has launched its Global Catastrophe Recap: First Half of 2022 report, evaluating the impact of natural disaster events that occurred worldwide in the first six months of the year.

VIG Re, the reinsurance company of Vienna Insurance Group, has announced changes to its leadership team, "in accordance with the established succession plan and the execution of the VIG Re Strategy 2025".

Global reinsurer Swiss Re announced the appointment of Velina Peneva as Group Chief Investment Officer and member of the Group Executive Committee, effective 1 April 2023. She will succeed Guido Furer following his retirement after 25 successful years at Swiss Re.