North Macedonia's insurance market ended the first half of 2021 with GWP worth EUR 95.7 million, 14.6% up y-o-y. AT the same time, paid claims increased by 22%, to almost EUR 36 million. Among the main business lines, the evolution was rather balanced, so that the market portfolio structure remained stable.

After the challenging year 2020, when Polish insurers' business decreased by about 8.3% y-o-y, the first half of 2021 showed signs of recovery that resulted in a positive dynamic, GWP growing by 8% y-o-y, to EUR 7.6 billion, data provided by the Polish Chamber of Insurance (PIU) show.

"We welcome the EC's acknowledgement of the need for an overall reduction in insurers' capital requirements. However, only a significant and permanent reduction of capital would allow insurers to increase their contribution to financing the recovery and supporting the EU's Green Deal and Capital Markets Union," Olav Jones, deputy director general of Insurance Europe said.

The quality of settlement in MTIBU has improved according to the results of a survey among victims of road accidents, who received compensation from the guarantee funds of the Bureau. MTIBU conducts this survey annually.

Insurance regulation, strategy and tactics of leading insurance companies, changes in business models and insurance products, including from the point of view of consumer protection, will become the main topic of the 7th Annual Forum of Insurance Market Leaders.

VIG's planned acquisition of the Aegon business in Central and Eastern Europe (Hungary, Poland and Romania) is still hamperd by the negative ruling Hungarian Ministry of Interior, as legal actions taken by the two companies have been not yet successful.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of GIC Perestrakhovanie LLC (Russia) (GIC Re Russia). The outlook of these Credit Ratings (ratings) is stable, the agency announced.

Digital identities are an essential component of the digital single market and of national and European economies. The insurance industry therefore welcomes the EC's initiative in this area and foresees a lot of potential in the insurance context, Insurance Europe said in its response to a consultation by the EC on its proposal for a European digital identity.

VIG Re has appointed Markus Schmid as new Head of Department Facultative as of 1 September 2021.

Global reinsurer Swiss Re announced it has entered into a partnership with BlaBlaCar and motor insurance specialist L'olivier Assurance in order to create BlaBlaCar Coach, an innovative smartphone app that offers drivers personalized coaching and tips for safer driving, and it will be available with an annual car insurance.

Within a few decades the current Hungarian pension system will become unsustainable and the population is barely prepared for this: the share of self-sufficiency savings (life insurance, pension funds, NYESZ) has fallen sharply in recent years within savings, portfolio.hu wrote.

The Georgian insurance market ended 1H with an increase of 19% y-o-y, GWP reached GEL 448.64 million (EUR 119.29 million), according to the data published by the Georgian Insurance Supervision Service.

The insurance market in 2Q exceeded the result of the same period last year as well as pre-covid levels. Total GWP for the first half of 2021 amounted to RUB 894.2 billion rubles (+21% y-o-y)/EUR 10.37 billion, according to the data published by the Bank of Russia. Market paid claims increased to RUB 384.5 billion (+29.6%).

In 1H2021, the number of contracts in private health insurance increased by 48%, GWP reached EUR 3.8 million. Insurance companies of North Macedonia for the first half of 2021 for reported insurance events paid 87.5% more y-o-y, Insurance Supervision Agency (ISA) reports.

Currently, in Georgia, real estate is insured only for 6.9% of the population, since no one insures property voluntarily - mainly clients of insurance companies in this segment are legal entities or buyers of apartments in the primary real estate market who received mortgage loans and are required to purchase insurance, Business Georgia writes.

GWP in voluntary life insurance in Azerbaijan from January to July 2021 increased by 22% y-o-y and reached AZN 194 million (EUR 96 million*), Trend reports.

Bosnian insurer ASA Osiguranje's net profit rose to BAM 1.47 million (~EUR 752,000) in 1H (vs BAM 1.29 million in the same period last year), which is about 14% more y-o-y, SeeNews reports.

The Board of the Financial Supervisory Authority has decided to reject the short-term financing plan and the recovery plan, to withdraw the operating license, to declare insolvency and to file for the opening of bankruptcy proceedings against CITY Insurance - the largest player in the local market, with a 20% share of the total industry and 45% in the MTPL segment.

The European insurance industry is fully committed to supporting the ambitious objectives of the European Green Deal.

Insurance Europe, in its response to a consultation by the European Commission on a draft report by its Platform on Sustainable Finance on a social taxonomy, stressed that it is important to prioritize the completion of the environmental taxonomy.