At the end of 2020, Vienna Insurance Group (VIG) has received three confirmations for its positive relationship with its employees: the group was included in Forbes' World's Best Employers list, it was named Diversity Leader awarded by the Financial Times and it also received the Best Recruiters' gold medal in the insurance sector for the fourth year in a row.

Munich Re announced its Group Ambition 2025, specifying a series of bold targets for the next five years. The group will retain and bolster its core business model, while advancing its transformation towards new business models. The strategy will develop in accordance with the three guiding principles of Munch Re: Scale, Shape and Succeed.

Bulgarian insurance market totaled BGN 2.16 billion (~EUR 1.10 billion*) at the end of September 2020, down by 0.87% y-o-y, according to data from the Financial Supervision Commission - FSC.

Serbian insurers' 3Q2020 business increased 2.17% y-o-y to RSD 80.73 billion (~EUR 687 million*), according to the quarterly figures published on the website of National Bank of Serbia (NBS).

Total market GWP at the end of the third quarter of 2020 decreased by 11.43% y-o-y, to UZS 1,587.71 billion (~EUR 132.27 million*). It should be noted that the decline was only due to the fall in life insurance, according to the data published by the Ministry of Finance of the Republic.

Euroins Romania Asigurare Reasigurare SA recorded two successive capital increases worth over RON 126 million (~EUR 25 million) which will consolidate its presence on the market.

Important issues in front of the sector were also discussed during the visit. It was agreed that the working groups highlighted by Turker Gursoy would be quickly implemented.

The ceiling on MTPL premiums' value will remain in place for another year starting 1 January 2021, the measure aiming to provide for affordable rated for insureds, the Insurance and Private Pension Regulation and Supervision Authority (SEDDK), Middle East Insurance Review reported.

Allianz-Tiriac Asigurari and Gothaer Group have announced the signing of a purchase agreement regarding the takeover of Gothaer Asigurari Reasigurari, this being the first acquisition of an insurance company made by Allianz-Tiriac after more than 25 years of organic growth.

From January to September 2020, Motor Hull GWP grew in local currency by only 1.4%, to RUB 123.1 billion (~EUR 1.33 billion*), while the average premium decreased by 17.5% to RUB 29.4 thousand.

From January to October 2020, the Azeri life insurance market totaled AZN 259.2 million (EUR 130.51 million*) exceeding the same period of 2019 by 16%, Trend reports referring to the Azerbaijani Central Bank (CBA).

During 2019, almost 3.9 million vehicles registered outside the European Economic Area (EEA) entered Poland through its eastern borders with Belarus, Russia and Ukraine. Although the traffic at these borders remains high, the number of border policies issued during 2019 dropped by half when compared to 2018, Polish Motor Insurers' Bureau (PBUK) informs.

AM Best recently released a market segment outlook report for the global reinsurance market, according to which the reinsurance industry maintains its 'Stable' due to multiple positive factors that absorbed many of the COVID-19 problems on the financial markets.

According to a press release, Guy Carpenter & Company, LLC, part of Marsh & McLennan Companies (NYSE: MMC) announced the appointment of Benjamin Keslowitz as US Life Leader, with immediate effect.

Aviva announced the appointment of Stephen Doherty as Chief Brand and Corporate Affairs Officer. Doherty will join Aviva's Group Executive Committee, reporting to the group's Chief Executive Officer, Amanda Blanc.

December 1^st, 2020 marked four years since the system of direct settlement of losses in MTPL was launched in Ukraine. Now, 15 MTIBU (Motor Transport Insurance Bureau of Ukraine) member companies are members of this system, according to the Bureau's website.

On December 3^rd, 2020, the Belarusian insurance company BELGOSSTRAKH celebrated its 99th anniversary in insurance, according to the company's website.

About 3,400 creditors of Standard Insurance have already received compensation from the Compulsory Insurance Bureau of Azerbaijan. Standard Insurance was declared bankrupt and its license was revoked this year in May, Trend reports with reference to the bureau.

On December 4, 2020 A.M. Best rating agency affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of "bbb-" of AzRe Reinsurance (Azerbaijan), with positive outlook, according to the agency's report.

GIC Perestrakhovanie LLC (Russia) (GIC Perestrakhovanie) has been assigned by AM Best with a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb", the Outlook is stable, according to a recent press release.