According to the first-quarter 2020 figures published by the Albanian Financial Supervisory Authority (AFSA), the local insurance market amounted to over ALL 3,590 million (~EUR 27.47 million*), or 9.56% less compared to January - March 2019.

Zurich Insurance Group (Zurich) announced the successful placement of EUR 750 million of dated subordinated notes. The notes, which will mature in September 2050 and are first callable in June 2030, will be issued by Zurich Finance (Ireland) DAC.

From 2015 to 2019, the claims volume paid by local MTPL insurers to the victims of road accidents amounted to almost UAH 9 billion (~EUR 0.34 billion), according to MTIBU's (Motor Transport Insurance Bureau of Ukraine) analysis of the MTPL market dynamics.

For the first quarter of 2020, the loss after tax of INGOSSTRAKH amounted to RUB 442.3 million (~EUR 5.1 million) due to revaluation of securities in the company's portfolio, ASN reports with reference to the insurer's report on the financial results.

In 1Q2020, RESO-Garantia's GWP reached RUB 25 billion (~EUR 0.3 billion), which is 17.9% more y-o-y, according to the preliminary data released by the company. At the same time, the insurer's net profit amounted to RUB 14.7 billion, ASN reports based on the company's press service.

Sorainen, a fully integrated regional business law firm with offices throughout the region (in Estonia, Latvia, Lithuania, and Belarus), has advised ERGO Group on the sale of its non-life subsidiary in Belarus to the EUROINS Group, as CEE Legal Matters informed.

The Russian latest stealth drone Okhotnik (Hunter), developed by the Sukhoi Aircraft Company, will be insured for almost RUB 1.3 billion (more than USD 18 million), as TASS agency informed according to the government's web portal.

In the first quarter of 2020, the claims paid by O`zbekinvest Hayot insurance company, the leader of the insurance market in Uzbekistan, exceeded UZS 27.4 billion (~EUR 2.7 million), according to UzReport.

According to a recent report of S&P Global Ratings, the agency believes that most insurers should be able to absorb COVID related claims and market volatility.

German insurer TALANX informed Jan WICKE, previously responsible on the Board of Management for the Retail Germany Division, will take over as CFO as from 1 September 2020. He will replace Immo QUERNER who will leave the company on the best of terms and by mutual agreement effective 31 August 2020. At the same time, GOTHAER manager Christopher LOHMANN was appointed as Board of Management member responsible for business in Germany.

GENERALI Global Business Lines (GBL) and GENERALI Global Corporate & Commercial (GC&C) announce key appointments to further enhance strategy execution.

At a recent meeting of the Global Reinsurance Forum (GRF) Emmanuel Clarke, President and CEO PartnerRe, has assumed the role of GRF Chairman for a two-year term, succeeding Kevin O'Donnell, CEO RenaissanceRe, who became Chairman in 2018. Jean-Jacques Henchoz, CEO Hannover Re, was elected Vice Chairman.

Insurance Europe and the CFO Forum have submitted a joint response to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on the review of technical implementation means for Solvency II supervisory reporting and public disclosure on wave three of the reporting consultations.

There is no doubt that the pandemic has a kind of impact on the insurance industry we have not seen before. Some carriers might tend to cut costs and postpone investments.

Pensions & Investments WorldPensionSummit 2020 has launched a call for nominations for the most innovative pension funds in technology, communication, plan design and investment, seeking for the future winners of the 2020 INNOVATION AWARDS.

On June 15, those interested to harness the capabilities of the digital solutions will have the opportunity to meet some of the most interesting Israeli insurtech startups and technologies, in a virtual meeting hosted by Kobi BENDELAK, the founder of Insurtech Israel and Prof. Klime POPOSKI, Insurance department of University St. Kliment Ohridski, Macedonia. XPRIMM support the event as Media Partner.

Insurance Europe has responded to a consultation by the European Commission on its proposals for a European data strategy.

Following the reduced incomes and the changes on the employment segment, the COVID-19 pandemic also produced changes in Romanians' perception of risks and consumption behavior, according to the latest UNSAR-IRES Barometer.

The Montenegrin insurance market increased by 12.32% y-o-y during Q1 2020 to EUR 24.80 million, as data from the Insurance Supervisions Agency shows. The non-life insurance segment accounted for EUR 20.44 million of the total GWP, up by 9.54% on the year, while the life-insurance companies expanded by 27.44% y-o-y to EUR 4.36 million.

At the end of March 2020, the Kosovo insurance market totaled EUR 21.91 million, 2.22% more y-o-y, the market statistics published by the Central Bank of Kosovo - CBK indicates. During the reported period, claims paid by insurers totaled EUR 12.69 million, up by 17.57% y-o-y.