In Q3 2022, Austrian insurance undertakings observed an y-o-y increase in premium volume by 4.69% to EUR 4.80 billion, the Austrian Financial Market Agency (FMA) said quoting data from it's Report on the Austrian Insurance Sector for Q3 2022.

The International Association of Insurance Supervisors (IAIS) issued two publications showcasing work on digital innovation, focusing on FinTech and the role of supervisory technology.

Based on its ongoing good operating performance, Munich Re aims for a consolidated profit of around EUR 4.0 billion for the 2023 financial year under the new reporting standard IFRS 17, most of most of it coming from the reinsurance activity, the reinsurer announced.

Munich Re has established an additional Board division- Global Specialty Insurance (GSI) division that will be headed by Michael Kerner (57 years), newly appointed to the Board of Management, with effect from 1 January 2023, the reinsurer announced.

Chubb, the global P&C insurance company, announced it will launch a new technology services center in Thessaloniki, Greece in early 2023 to deliver innovative technologies that enhance the customer experience, increase efficiency and accelerate the company's digital transformation.

Milliman Inc., a global consulting and actuarial firm, announced the release of Milliman Agile ALM. This innovative software package makes asset/liability management (ALM) and stochastic valuation accessible to more insurers, helping them comply with Solvency II, IFRS 17, and other requirements.

According to the 3Q2022 results, the Georgian insurance market grew by 16.11% y-o-y, reaching GEL 704.48 million (EUR 256.34 million), according to the Georgian Insurance Supervision Service.

At the end of 3Q2022, the market saw a slight decrease, amounting to RUB 1,327.93 billion (EUR 23.96 billion). It is worth noting the rapid growth in the European currency due to the positive dynamics of the ruble exchange rate against the euro (from ~84 rubles / euro in 2021 to ~50 rubles / euro at the end of September 2022), according to the market data published by the Central Bank.

Insurance companies of Ukraine in January-September 2022 collected UAH 28.57 billion (EUR 803.51 million) of insurance premiums and paid out UAH 9.50 billion (EUR 267.21 million), which is respectively 25% and 29% less y-o-y in local currency, according to data from the National Bank.

The insurance market of Cyprus totaled EUR 765.5 million at the end of September 2022, increasing by more than 9% y-o-y, according to the quarterly data published by The Insurance Association of Cyprus - IAC.

The leading property and casualty ("P&C") insurance company in Georgia, Aldagi further expands its business towards underwriting inwards reinsurance in the region. By doing this, Aldagi sets a precedent for the Georgian industry, being the first insurance company in the market that will also function as a reinsurer.

Insurers consider there is no need to develop an extensive recovery and resolution framework for insurers, Insurance Europe said in a statement. Yet, as such a framework is likely to be adopted, insurers have drawn a set of key messages summing up their view on the topic.

Introduction of the Estonian income tax model for the insurance sector in Georgia has been postponed for one year, as Georgian Economy Minister Levan Davitashvili said, Business Georgia wrote.

In October 2022, the assets of insurance (reinsurance) companies in Kazakhstan increased to KZT 2 trillion/~EUR 4.3 billion (an increase of 11.5% since the beginning of 2022), mainly as a result of an increase in income from insurance activities, Allinsurance.kz reports with reference to the data of the National Bank.

According to the State Tax Service, in Kyrgyzstan, from December 2022, for small and medium-sized businesses with an annual revenue of no more than KGS 30 million/~EUR 334 thousand, insurance tariff rates were reduced for a period up to January 1, 2027, knews.kg reports.

In January-October 2022, GWP of the insurers-members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) on MTPL policies decreased by 4.53% to UAH 5.6 billion (~EUR 152.63 million), including premiums on electronic contracts, which amounted to UAH 3.8 billion (+18% ), Forinsurer reports, citing the Bureau.

For 9M2022, the business of the Uzbek insurance market leader UZBEKINVEST increased by 186% compared to the period of 2021, exceeding UZS 447.6 billion (EUR 41.94 million). Over 320 thousand insurance policies for UZS 25.5 trillion were sold, gazeta.uz writes with reference to the company's data.

Slovenian Zavarovalnica Triglav announced on the Ljubljana Stock Exchange website the resignation of Supervisory Board (SB) members Branko Bracko and Peter Kavcic, after receiving their resignation notifications on 9 December.

The Talanx Group announced is significantly raising its sights for the next three years with its new Strategy 25: "the goal is for the Group's return on equity to permanently exceed 10%".

Global reinsurer Swiss Re proposes to elect Vanessa Lau and Pia Tischhauser as new Board members at the 2023 AGM, on 12 April. Current Board members Renato Fassbind and Susan L. Wagner will not stand for re-election, the reinsurer informed.