The Asian Development Bank will support the development of the insurance market in Azerbaijan, this was discussed during the meeting between the Azerbaijani Insurers Association (AIA) management and the Head of the Permanent Mission of the Asian Development Bank (ADB) in Azerbaijan Candice McDeigan, Azernews reported.

Austrian insurance market totaled at the end of March 2021 EUR 5.85 billion, 0.35% more y-o-y, according to the FMA (Finanzmarktaufsicht in Osterreich / Austrian Financial Market Authority) Q1 2021 Quarterly Report.

Top Insurance companies and Industry veterans joined for the leading insurance event - InsureTek 2021 culminated successfully on 9th June 2021 in Dubai. Organized by Biz Events Management, InsureTek is the first insurance event in the Middle East post COVID-19. The event was inaugurated by H.E Fareed Lutfi. Media XPRIMM has been a Media Partner for the event.

The Verkhovaya Rada of Ukraine adopted in the first reading the Law of Ukraine "On Insurance" No. 5315, which contains norms on the activities of insurers, insurance contracts, intermediaries, and interaction with consumers of insurance services, Forinsurer wrote.

Expert RA rating agency has developed various development scenarios for the Russian insurance market for 2021 and does not expect the market to drop in any of them.

The TAS Insurance Group, one of the leaders in the Ukrainian insurance market, increased its GWP by 25.4% y-o-y in the first five months of 2021 to UAH 967.74 million (~EUR 28.87 million*), Forinshurer said.

For the first five months of 2021, the agroinsurance with state support in Russia grew by 35% y-o-y to RUB 2.4 billion (~EUR 26.85 million*), according to the President of the NAAI (National Association of Agriculture Insurers) Korney BIJDOV.

Polish largest insurer PZU SA (Powszechny Zaklad Ubezpieczen Spolka Akcyjna) announced on 16 June 2021 the Company's Ordinary Shareholder Meeting appointed Pawel Karol Mucha as Member of the Company's Supervisory Board. "The resolution came into force upon its adoption".

Generali CEE announced that from 2022, its Czech unit - Generali Ceska pojistovna will not continue to insure CEZ Group's conventional coal-fired power plants. "This decision to end the cooperation in the field of coal insurance was reached after a mutual agreement between the largest Czech insurance company and CEZ Group".

The European Bank for Reconstruction and Development (EBRD) is providing a mandatory convertible debt facility of EUR 10 million to Hellas Direct Insurance Limited, a fast growing, tech-driven insurance company, to support its growth and provide the company with solvency capital. The debt facility is part of a larger financing round of EUR 32 million.

Bulgarian FSC (Financial Supervision Commission) announced that it granted approval to local insurer DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group.

Slovene insurance group TRIGLAV announced the appointment of Andrej Andoljsek as Chairman of the Supervisory Board of Zavarovalnica Triglav d.d. :"The Supervisory Board of Zavarovalnica Triglav d.d. met for the first time in its new composition on 18 June 2021 and appointed Andrej Andoljsek Chairman of the Supervisory Board of Zavarovalnica Triglav".

Dutch insurance group Aegon announced last week that Allegra van Hovell-Patrizi will succeed Maarten Edixhoven as CEO of Aegon the Netherlands and member of the Management Board of Aegon N.V., effective immediately.

Nine European associations have gathered to launch the European Retirement Week that will take place during the week of 29 November 2021 in order to debate the future of pensions in Europe and to raise citizens' awareness of the need to save for retirement.

The Solvency II in general works well, but it has also created unnecessary costs and barriers, in particular in relation to insurers' ability to offer long-term products and to invest in long-term assets that can help drive the EU's goals in terms of economic recovery, sustainable growth and the climate transition.

S&P Global Ratings has affirmed the financial strength ratings at "A-" for International General Insurance Holdings Ltd. (IGI), an international specialty risks commercial insurer and reinsurer. The rating company also affirmed that the outlook of IGI is stable.

The Romanian Motor Insurers Bureau (BAAR) has annaounced the new leading team where Madalin Rosu, a representative of OMNIASIG, has been re-elected as President. EUROINS Romania returns to the management of the association and Tanja Blatnik, General Manager of the company, became the newest member of the Board of Directors.

Insurance Europe has published its response to a roadmap consultation by the European Commission on its supervisory data strategy for the EU financial system. The industry fully supports the aim of the supervisory data strategy to initiate a shift to a modern, efficient and effective approach to data collection for supervisory purposes.

The annual U.S. Cyber Market Update issued by AON analyses the profits and performance of U.S. cyber insurers during 2020. The sixth edition of the report shows an increase of 21% in 2020 compared to 2019 of the U.S. cyber insurance direct written premiums.

AON and Willis Towers Watson shared the following statement in response to the legal action taken by the U.S. Department of Justice: "We disagree with the U.S. Department of Justice's action, which reflects a lack of understanding of our business, the clients we serve and the marketplaces in which we operate."