EU requirements for audit, supervision and corporate governance are already effective and achieve the desired objectives. There is no urgent need to modify and extend them. Exceptional corporate failure cases cannot be a driver for new EU legislation, Insurance Europe said in its response to a EC consultation on its proposals regarding corporate reporting.

NN Romania, local life insurance market's leader, recorded solid financial performance on all business lines in 2021, despite challenges still faced by the local economy in the Covid-19 context. Life and Health insurance GWP exceeded EUR 182.8 million while the gross profit reached EUR 17.4 million.

Euroins Romania announced a significant reduction in the processing time for the claims following road accidents with only material damages to 7 days in Q4 2021, from the average of 38 days in Q2 2021. Consequently, the number of complaints also decreased substantially, to only 197 out of 14,000 claim files processed.

The European Commission has concluded that Hungary's decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group by Vienna Insurance Group (VIG) breached Article 21 of the EU Merger Regulation (EUMR). Hungary has to withdraw its veto by 18 March 2022.

In 2021, SberLife Insurance generated RUB 155.7 billion (EUR 1.85 billion*) of GWP, which is 46.8% more y-o-y. Accumulative life insurance continues to hold the largest share in the insurer's portfolio (RUB 67.7 billion or 43% of the total volume, +20.4%), according to the insurer's press service.

Foreign participation in the total charter capital of insurance companies in Russia as of January 1, 2022, amounted to 10.01% (vs 10.40% as of January 1, 2021), ASN reports according to the Bank of Russia.

The insurance industry welcomes the consultation paper on EIOPA's guidance (European Insurance and Occupational Pensions Authority), while noting that it could be enriched with further explanations for stakeholders, as Insurance Europe said in its response to EIOPA consultation on the application guidance on climate change risk scenarios in the ORSA (Own Risk and Solvency Assessment).

Global re/insurance broker Aon announced that the Board of Directors has authorized an additional USD 7.5 billion in share repurchases.

German insurer Allianz reported FY2021 total revenues of EUR 148.5 billion, up by 5.7% as compared with 2020 (EUR 140.5 billion). At the same time, operating profit jumped by 24.6% to EUR 13.4 billion (12M 2020: EUR 10.8 billion).

Allianz Global Corporate & Specialty (AGCS) - the global corporate insurance carrier part of Allianz Group, reported YE 2021 GWP of EUR 9.49 billion, up by EUR 174 million vs. 2020 (EUR 9.31 billion).

According to the year-end preliminary statistics published by SLASPO (Slovak Insurance Association), the FY 2021 GWP from the members of the association totaled EUR 2.48 billion, up by 2.44% y-o-y. Premiums written in life insurance decreased by 0.8% y-o-y to EUR 1.05 billion, while non-life segment was up by 4.9% y-o-y to EUR 1.43 billion.

Italian insurer Assicurazioni Generali announced in a statement that its chairman, has announced that he will step down at the expiry of his term in April after 11 years at the top of Italy's largest insurer.

Marsh McLennan announced that on nn February 11, 2022, the Board of Directors of the company appointed Hafize Gaye ERKAN, as Director effective on March 1, 2022. With Erkan's appointment, the Company's Board will consist of 14 Directors.

In January 2022, 20 Azerbaijani insurers collected AZN 118.23 million (~EUR 61.85 million*) of premiums, abc.az reports according to the data of the Central Bank of Azerbaijan. This is 13.67% higher in the same period a year earlier.

In 2021, in Kazakhstan extreme supervision was established for 4 insurers, intensive supervision for 6, detailed supervision - 6, monitoring - 3, standard supervision - 9.

The insurance sector of Armenia ended 2021 with an increase of almost 11% y-o-y, reaching AMD 49.38 billion (EUR 91.01 million). However, the increase in paid claims more than doubled the GWP increase (almost 23%), their total volume amounted to AMD 28.50 billion (EUR 52.54 million), according to the data on activities of insurance companies provided by ArmInfo.

In 2021, MetLife, the leader of the life insurance market in Ukraine, paid out UAH 311 million (EUR 10 million*) to its customers, which is almost one and a half times more y-o-y. It is noted that over the 19 years of its work, the insurer has paid out a total of UAH 1.17 billion to customers, Forinsurer wrote.

French reinsurer SCOR announced the completion of a GBP 5.5 billion longevity reinsurance transaction covering liabilities of over 17,000 members of the Lloyds Bank No. 1 Pension Scheme. The transaction protects the trustee of the scheme by transferring the risk that members live longer than expected. SCOR was advised by global law firm CMS and WTW was the adviser to the Trustee for the transaction.

Austrian insurer Vienna Insurance Group (VIG) and the Hungarian state Holding CORVINUS have agreed on the details of their cooperation announced in December. Under the cooperation, CORVINUS is to acquire a 45% participation in the Hungarian VIG companies.

According to preliminary results, Austrian insurer VIG will exceed its expectations for 2021. Thus, based on consolidated, preliminary and not yet audited figures, premium volume will amount to EUR 11 billion, while profit before taxes will be around 510 million euros and the combined ratio will be 94.1 %.