The rating agency AM Best affirmed the financial strength rating of the Slovenian insurer Zavarovalnica Triglav and its subsidiary, Pozavarovalnica Triglav Re, at 'A' (excellent) and their long-term issuer ratings at 'a', SeeNews informed with reference to the insurer's statement.

The largest corporate policy issued in North Macedonia covers a maximum damage of up to EUR 1.26 billion. In motor vehicle insurance, the maximum sum insured is EUR 41 million and the insurance contract is with a public passenger transport company.

Chubb Limited - the world's largest publicly traded P&C insurer with operations in 54 countries and territories - announced a definitive agreement to acquire personal accident, supplemental health and life insurance business of Cigna in seven Asia-Pacific markets for USD 5.75 billion in cash.

Insurers are seeing an increase in fraudsters trying to illegally benefit from road accidents. According to Lietuvos DRAUDIMAS, the insurance market leader in Lithuania and the largest insurance company in the Baltic States, this year is already breaking records - from the beginning of the year to the mid-October, almost 900 fraud events have already been recorded, and the amount of illegally attempted payments exceeds EUR 1.7 million, delfi.lv said.

Car owners have been complaining about many increases recently. Besides high fuel prices, they have also started to feel an increase in the cost of compulsory third party liability insurance, Gazeta Ubezpieczeniowa reports.

NN Group announced the completion of its acquisition of a 70% stake in Dutch insurance broker and service provider Heinenoord.

Polish insurance group PZU announced that Tomasz KUCZUR resigned from the company's SB member position as of 11 October 2021.

Croatian largest insurer CO (Croatia osiguranje) announced in a statement that Croatian Financial Services Supervisory Agency (HANFA) authorised Zoran BARAC as a member of the CO Supervisory Board.

Last week, Bulgaria's FSC (Financial Supervision Commission) has approved the EEEC revised public tender offers for the acquisition of the remaining 33% interests it does not own in power distributor CEZ Distribution Bulgaria and power supplier CEZ Electro Bulgaria.

From November 24 to 25, 2021, the 20th Anniversary November Business Meetings (NBM) of Reinsurers will be held in Moscow. Venue: Hotel National, Moscow, 15/1 Mokhovaya str., bld.1.

Dutch insurer Achmea announce its Shareholders approved the appointment of Tjahny BERCX as a member of Achmea's Supervisory Board for a period of four years. The appointment has been approved by the Dutch Central Bank (DNB). Tjahny BERCX fills the vacancy that arose when Mijntje LUCKERATH stood down in April.

For 9 months of 2021, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) paid the victims of traffic accidents UAH 202.3 million (~EUR 6.56 million*) from the Victim Protection Fund, and the total number of payments reached 5.4 thousand. The number of payments increased by 18.5% y-o-y, while the amount - by 32%, the press release of the Bureau said.

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The Cumbre Vieja volcano (La Palma Island in the Canary Islands archipelago of Spain) prompted evacuation of thousands of residents and will likely result in hundreds of millions of euros in economic losses, the monthly Global Catastrophe Recap report launched today by Aon said.

Serbian insurers ended the first half of 2021 with GWP worth EUR 514 million, up by 8.2% y-o-y, while paid claims went down by about 2.3%, to EUR 203.3 million, totally owed to the decreasing claims expenses for the property insurance lines which saw paid claims diminishing to about a third of the 1H2020 sum.

Romanian insurers reported GWP worth EUR 1.29 billion at the end of 1H2021, which is by 11,66% more y-o-y. As the Romanian Leu lost some weight against Euro in the last 12 months, the growth rate in local currency looks even better, reaching 13.6% y-o-y.

Ecaterina Caraman, head of the Corporate Investment Department within Moldova Agroindbank (MAIB) could be appointed to lead the National Financial Market Commission (NCFM), the autonomous public authority that authorizes, regulates and supervises the activity of participants in the non-banking financial market in the Republic of Moldova.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" (Excellent) of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Re group. The outlook of these Credit Ratings (ratings) is stable.

At the end of June 2021, Lithuanian domestic insurers posted aggregate profits of EUR 27.7 million (vs. EUR 27.5 million in June 2020), while the assets managed by domestic insurers remained stable at ~ EUR 1.7 billion. Life insurers reported net profits of EUR 9.3 million (vs. EUR 8.5 million a year before), the remaining EUR 18.4 million being accounted by non-life insurance companies (vs. EUR 19 million).

Hannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. In setting these targets Hannover Re supports the Paris Agreement on climate change aimed at limiting global warming to 1.5 degrees Celsius, the German reinsurer announced.