First Deputy Chairman of the Bank of Russia Sergey SHVETSOV decided to leave his post on March 21, 2022, ASN reports with reference to the press service of the regulator.

The rating agency Expert RA has published a preliminary forecast for the insurance market development in 2022, according to which the market will grow by 7-9% y-o-y, and total GWP approach RUB 2 trillion (~EUR 23 billion*), ASN reports with reference to the rating agency.

During the 25th year of Europ Assistance's operations in Poland, the company's service volumes returned to pre-pandemic levels, and in some areas, the operator of assistance services handled even more cases than in the period before Covid-19.

BTA insurance companies estimated that losses caused by fire last year are twice as high as in 2020. In total, over EUR 1 million was paid in 2021.

According to the data of Lietuvos Draudimas, EUR 120 thousand have already been reserved to compensate losses of very strong wind gusts and thunderstorms recorded in Lithuania on Friday. The company's experts say that the numbers will definitely grow - it is expected to reach EUR 300 thousand, delfi.lt reports.

In 10M2021 the combined net profit of life insurance companies in Bulgaria increased to BGN 52.5 million (EUR 26.8 million) from BGN 21.9 million in the like period of 2020, SeeNews reports with reference to the country's financial regulator.

Assicurazioni Generali informed that the director Francesco Gaetano CALTAGIRONE, Deputy Vice-Chairman, non-independent director and member of the Appointments and Remuneration; Corporate Governance, Social and Environmental Sustainability; Investments; and Strategic Operations Committees, has announced his resignation from the Board on Friday, January 13th.

Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.

Aviva announced the appointment of Shonaid Jemmett-Page as an Independent Non-Executive Director of the Company with effect from 16 December 2021.

Before the end of 2021, the international rating agency A. M. Best, reaffirmed a financial strength rating of "A" (excellent) with a stable outlook for Assicurazioni Generali and its main rated subsidiaries, including Generali Ceska pojistovna. The agency also rated the long-term credit rating at "a +" with a stable outlook.

French insurer Axeria IARD, headquartered in Lyon, became active on the Romanian MTPL market on the right of the Freedom of Establishment, being greenlighted by the French and Romanian supervisory authorities: ACPR (Autorite de controle prudentiel et de resolution) and ASF (Autoritatea de Supraveghere Financiara), as 1asig.ro informed here.

Insurance Europe has published its response to a questionnaire conducted by the European Commission on adapting liability rules to the digital age and artificial intelligence (AI).

Insurance Europe has published its response to a call for evidence from the European Securities and Markets Authority (ESMA) on aspects of retail investor protection. This call for evidence will feed into the advice that ESMA will provide to the European Commission on its Retail Investment Strategy (RIS).

The review of the PRIIPs framework should aim to result in an overall simplification to improve the clarity and usefulness of the Key Information Document (KID). Moreover, any review of the PRIIPs framework should not be rushed, as extensive technical and consumer testing in all countries is needed, Insurance Europe said.

Macedonian insurers posted nine-months 2021 aggregate GWP worth MKD 8.8 billion (~EUR 143 million), 17.4% more y-o-y, according to the market figures published by the Insurance Supervision Agency of Macedonia.

The insurance market of Cyprus totaled EUR 701.4 million at the end of September 2021, increasing by almost 5% y-o-y, according to the quarterly data published by The Insurance Association of Cyprus - IAC.

The Latvian insurance market totaled EUR 618.8 million at the end of September 2021, about 3.7% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).

From January 1, 2022, requirements for the minimal charter capital of non-life insurers increased from RUB 180 million to RUB 240 million. For life insurers, the minimal amount increased from RUB 310 million to RUB 380 million, for reinsurers - from RUB 520 million to RUB 560 million, ASN reports with reference to the Finmarket portal.

Movingdots, Swiss Re's tech subsidiary in the automotive & mobility space and Overhaul, an US supply chain monitoring service provider, have established a partnership to provide motor carriers with the necessary actionable data to identify and address driver behavior.

Over 90% of cars in Azerbaijan are insured under MTPL, said Vusal GURBANOV, director of the department for control over insurance activities of the Central Bank of Azerbaijan, Forinsurer reports.