At the end of March 2020, the Macedonian insurance market totaled about MKD 2.6 billion (EUR 42 million*), up by 4.5% y-o-y, according to data provided by the local Insurance Supervision Agency. Paid claims by insurers remained at the Q1 2019 level: MKD 955 million, the equivalent of EUR 15.5 million*.

The insurance sector of Moldova ended the first quarter of 2020 with a decline in GWP volumes, both in national currency (-1.11%) and in euro (-4.47%*). GWP amounted to MDL 339.30 million (~EUR 16.87 million*), according to the data published by the National Commission of Financial Market.

In 1Q2020, the GWP of Belarusian insurance market amounted to BYN 379.9 million (~EUR 132 million*), in local currency reflecting an increase of 13% year-on-year, while in European currency the market growth rate was negative (-6.3%), as the data published by the Ministry of Finance show.

In June this year, life insurers in Kazakhstan will offer unit linked product to their customers. This insurance product is new to this market, Allinsurance.kz reports.

As a result of numerous fires and natural disasters of 2019, importance of property insurance has increased on the Azerbaijani market. This trend can be observed in 1Q2020 GWP under compulsory real estate insurance, indicator which went up by 95% year-on-year, as Trend reported according to the Association of insurers of Azerbaijan.

Romanians will no longer be able to conclude insurance contracts in EUR, according to a bill adopted by Romanian Senate and debated these days in Chamber of Deputies, informed the Romanian insurance portal www.1asig.ro here. According to the quoted source, among the most common insurance contracts concluded in European currency are the life, MoD and HH policies.

Insurance Europe has published its response to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on its implementing technical standards (ITS) for supervisory reporting and cooperation and the exchange of information between authorities for the pan-European personal pension product (PEPP).

Connected Claims Europe, organized by Reuters Events Insurance and Insurance Nexus and supported by XPRIMM Publications as Media Partner, has officially launched as a virtual claims event that is free to attend for all insurance executives for the first time in its history.

German insurer ERGO announced the signing of a shareholder's agreement and capital increase agreement to make a strategic investment in TAISHAN Property & Casualty Insurance, a Shandong-based nationwide property and casualty (P&C) insurer in China. "The deal marks a significant step by the leading German insurer to deepen and expand its services in the Chinese market", as the German insurer mentioned in a press release.

Insurance Europe has today published a guide on how to "Insure Yourself Wisely". Recent events have shown just how important it is to make the right financial decisions and to understand the financial products you buy.

Insurance Europe has today published its response to the European Commission's Non-Financial Reporting Directive (NFRD) consultation.

Peak Reinsurance Company Limited, a Hong Kong-based global reinsurer, is pleased to announce that it has received from Moody's Investors Service an A3 insurance financial strength rating (IFSR); and the rating outlook is stable.

Romanian subsidiary of the German ALLIANZ Group, ALLIANZ-TIRIAC Insurance, recorded solid results in Q1, with increasing sales on all business lines and the consolidation of operational profitability, the company announced.

Starting July 1^st, COMPENSA Vienna Insurance Group and SEESAM Insurance will complete the merger and become one insurance company. SEESAM, one of oldest insurers in the Baltics, entered the VIG family in 2008, with its life insurance unit, followed in 2018 by the acquisition of the non-life company.

Insurance Europe has today published its response to a white paper by the European Commission on its upcoming consultation on a framework for artificial intelligence (AI).

AXA XL today announced that Xavier Veyry has been appointed as CEO Asia & Europe. In taking up the role, Mr. Veyry will join AXA XL's newly configured Leadership Team, reporting to Scott Gunter, CEO.

During May 2020, severe weather events have hit multiple geographical areas across the world. During this month, more than 600 people have lost their lives because of NatCat events, while the total global economic losses exceeded USD 21 billion, the latest analysis published Aon shows.

A group of financial services trade associations - including Insurance Europe - has called for the creation of a centralized public register for Environmental, Social and Governance (ESG) data in the EU.

Armenian insurance market ended 1Q2020 with a decline in GWP by 4.19% y-o-y, the premiums volume amounting to AMD 15.8 billion (~EUR 28.59 million*). The market paid claims increased by 7%, to AMD 6.38 billion (~EUR 11.53 million*), according to the data of insurance companies, provided by ArmInfo.

The Croatian insurance market ended 1Q2020 with GWP worth HRK 3 billion (~EUR 402 million*), 4.12% up y-o-y. The largest contributions to the aggregate GWP, in absolute terms, came from the motor insurance classes, traditional life insurance and both property LoBs, according to the figures published by the Croatian Insurance Bureau.