Vienna Insurance Group (Wiener Versicherung Gruppe) has acquired an indirect stake in venture capital fund IST cube (EuVECA) GmbH & Co KG (IST CUBE) for start-ups which develop scientific, engineering and technological innovations on the basis of academic research.

Business operating profit (BOP) decreased by 20% at USD 4.2 billion due to the COVID-19-related impact and higher catastrophe losses, but customer and employee satisfaction rise to record high, reflecting quick adaptation to new ways of providing services and protecting employees, as a press release shows.

According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in 2020, insurers concluded over 8.3 million MTPL contracts, and total GWP amount became a record - almost UAH 6.1 billion (~EUR 0.17 billion*), the bureau's press release says.

Since February 10, 2021, Iryna SIRENKO has taken the post of Head of the Insurance Market Supervision Department at the Non-Bank Financial Services Market Supervision Division of the National Bank of Ukraine, Forinshurer reports.

The Global Federation of Insurance Association (GFIA) has today published its response to a consultation conducted by the International Association of Insurance Supervisors (IAIS) on resolution powers and planning.

The leaders of the Russian voluntary health insurance market expect an increase in the voluntary health insurance loss ratio due to deferred demand, an increase in the cost of treatment per insured person and an increase in the level of medical inflation, writes ASN quoting the insurance broker GrECo International.

According to the President of the National Association of Agriculture Insurers (NAAI) Korney BIJDOV, at the moment, in a number of large agricultural regions insurance coverage of crops has grown from 22% to 46%, NAAI said on its website.

In Belarus, to support and stimulate exports, amendments have been made to the rules for insurance of export risks, BELTA informed with reference to the department for interaction with the media and editorial activities of the General Prosecutor's Office.

Insurance Europe has published its response to a consultation by the European Commission (EC) on sustainable corporate governance, including matters regarding social and human rights, climate change and the environment.

There is still time to register on INSURANCE IN THE DIGITAL WORLD CONFERENCE event which will take place on the 25 February, in order to discuss about the ups and the possible traps of the digitalization journey in the insurance industry.

Even if the insurance sector dealt rather well with the pandemic situation for 1H2020, there are still some warnings about the insurance and pension sector in regards to the impact of COVID-19: possible illiquidity in the unit-linked market, concerns about travel insurance products and lack of clarity in contractual information.

CAP - The Czech Insurance Association announced in a statement the renewed structure of its highest body. As it does every two years, the assembly of association elected the nine members of its Presidium.

Montenegrin smallest non-life insurer SWISS Osiguranje officially renamed into GRAWE nezivotno osiguranje, according to a notice published on 27 January 2020 on the Montenegro Stock Exchange website.

The Insurance and Private Pensions Regulation and Supervision Agency (SEDDK) has increased the the maximum coverage amount for compulsory earthquake insurance policies administrated by DASK (TCIP - the Natural Disaster Insurance Institution) from TRY 240 k to TRY 268 k (~EUR 31.5 k). At the same time, the tariffs of the compulsory earthquake insurance scheme premiums were reduced by 10% for the policies issued in 2021.

SCOR has announced excellent results for the January 2021 renewals, in line with the forecasts shared during its September 2020 Investor day. The reinsurer expects the market to show further price increases and improved terms and conditions for the mid-year renewals season.

Insurance Europe has published its response to a consultation by the European Commission on its proposals for a Data Governance Act for creating a single market for data, where data from public bodies, business and citizens can be used safely and fairly for the common good.

On January 27, 2021, "Insurance segodnya" Media Information Group, with the support of BusinessDrom and Sberbank Insurance, held an online conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality".

Global re/insurance broker MARSH said that Q4 2020 Global Commercial Insurance prices increased by 22%. The increase, the largest since the Global Insurance Market Index was launched in 2012, follows year-on-year average increases of 20% in Q3 and 19% in Q2.

Based on preliminary unaudited consolidated figures, the German insurance group TALANX announced year-end 2020 net income of EUR 673 million (vs. EUR 923 million a year before), operating profit of EUR 1.7 billion (vs. EUR 2.4 billion) and increasing GWP from EUR 39.5 billion to EUR 41.1 billion.

Global re/insurance broker AON announced its Q42020 aggregate revenue increased by 3% y-o-y, to USD 2.96 billion, "reflecting growth in the core business driven by ongoing strong retention and net new business generation, partially offset by a decline in the more discretionary portions of the business".