The study conducted by the Ministry of Economics on the changes in labor and construction material costs in 2021-2025 indicates that construction costs will increase by a record 6.6% in 2021 compared to 2020, reaching the highest increase in 9 years.

From January to September 2021, GWP of A-Qroup, one of the top ten market leaders in Azerbaijan, amounted to AZN 10.41 million (~EUR 5.29 million*), which is almost 30% more than in the same period in 2020, Trend reports.

From January to September 2021, the volume of taxes paid by Armenian insurers amounted to AMD 2.1 billion (~EUR 3.73 million*), which is 31.3% more y-o-y, ArmInfo reports. Of this amount, AMD 1.8 billion fell on direct taxes (+28.6%).

German insurer Allianz announced starting with November 1, 2021, Delphine TRAORE (COO and Board Member of Allianz Africa) will succeed Coenraad VROLIJK as Allianz Africa Regional CEO.

Aviva announced the appointment of Martin STROBEL as Independent Non-Executive Director of the Company with effect from 22 October 2021.

S&P Global Ratings has improved the financial strength rating and the credit rating of ROSGOSSTRAKH to BB +, with a stable outlook on the ratings. Since October 2020, the oldest insurer in Russia (the company celebrates its 100th anniversary in 2021) has had BB ratings. In April 2021, the agency improved its rating outlook to positive, the insurer said in a press release.

Net profit of the Renaissance insurance group for 9 months of 2021 increased by 3.4 times y-o-y, exceeding RUB 7 billion (~EUR 83 million*), ASN reports referring the insurer's statement (under the OSBU).

GWP by insurers in the 17 CEE insurance markets wrote gross premiums worth EUR 20.75 billion, 8.3% up y-o-y, property and motor insurance lines being the main growth drivers. Paid claims decreased by almost 5% y-o-y at regional level, to EUR 11.34 billion, with property insurance lines being again the trend setter.

GWP in the 17 CEE markets under the scope of the latest XPRIMM Insurance Report reached EUR 20.75 billion at the end of June 2021, 8.30% more y-o-y and exceeding by about EUR 900 the volume in 1H 2019, the year before the Covid crisis. Except for Estonia and Slovakia, insurance business in all CEE markets reached volume superior to 1H2019.

At the beginning of summer 2021, Amodo and UNIQA presented the first Full Comprehensive insurance in Croatia that can be activated or deactivated as needed, enabling users to contract and use it via a smartphone application. To know more about it, join the webinar where representatives of the two companies will talk about game-changing insurtech solutions!

Armen MKHITARYAN has been appointed Director for Partnership Sales Development at SberStrakhovanie Life. Armen's main tasks are building and developing partner sales and coordinating marketing activities.

Fire remains the danger most often mentioned by Romanians when referring to the risks that can affect their homes (56%), according to a new opinion poll conducted by UNSAR together with IRES.

The COVID-19 pandemic had presented new opportunities for innovative re/insurance solutions but added that the sector wasn't addressing emerging risks and climate change quickly enough, Peter ZAFFINO, President & CEO of AIG stated for Aon's fireside chat this week.

Denis KESSLER, Chairman of French Reinsurer SCOR has been appointed Chairman of the Reinsurance Advisory Board (RAB) - a specialist representative body for the European reinsurance industry.

Global reinsurer Munich Re announced losses of about EUR 0.6 billion from the impacts of windstorm Bernd in Europe in July, and losses of around EUR 1.2 billion from Hurricane Ida in the U.S.

During the lockdown in the first half of 2020, about 40% of insurance contracts were concluded online. However, the fear of fraud and losses again led to a decrease in the share of electronic contracts below 10%, said Vladimir CHISTYUKHIN, Deputy Chairman of the Bank of Russia, in an interview with ASN.

Today, only 15-20% of Hungarians have some form of accident insurance coverage, which is far below the rates in Western European countries, reaching as high as 60-80%. In the second quarter of 2021, 625 thousand accident insurance policies were issued, according to the Hungarian Association of Independent Insurance Brokers (FBAMSZ), portfolio.hu said.

Ileana DAMIAN has received the Romanian insurance regulator's approval to take over the position of Chief Operations Officer within Generali Romania, as Generali CEE Holding announced in a statement. She is replacing Daniela COVACESCU who resigned from her position. Ileana DAMIAN is becoming a member of the Board as well.

Beata SIWCZYNSKA-ANTOSIEWICZ is the new Generali Poland CFO, Generali CEE Holding announced in a statement on its website. She takes up the position of Member of the Management Board of Generali Poland as well.

On the eve of the Forum of Insurance Market Leaders, Deputy Chairman of the Bank of Russia Vladimir CHISTYUKHIN spoke about the situation with insurers' compliance with new requirements for financial stability, miss-selling and the regulator's plans.