Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.

"Cyber risks are one of the biggest threats to the networked economy. Munich Re is making highly targeted investments in know-how and development of networks in order to continually improve its services and insurance products," Torsten Jeworrek, Member of Munich Re's Board of Management, stated during RVS 2018

Worldwide, most major non-life insurance markets are in a phase of below-average profitability, according to the latest sigma report from the Swiss Re Institute, "Profitability in non-life insurance: mind the gap", that presents the existing earnings gap in the non-life insurance sector.

"As the world economy struggles to produce strong sustainable growth, and with the rising pressure on governments to increase public spending on welfare and services, there has never been a more important time for the re/insurance industry to step back and provide solutions to reduce the insurance protection gap", according to AON's Global Insurance Market.

Munich Re regained the leading position it held in the A.M. Best annual ranking of the Top 50 Global Reinsurance groups since 2010, after a temporary loss in favor of Swiss Re, in 2017. Together, the two reinsurers account for ~30% of the Top 50 total reinsurance GWP.

The Slovenian insurance market saw a 6% y-o-y growth in GWP in 1H2018, to EUR 1.24 billion. The non-life insurance segment had the largest contribution to the market growth, but also to the 6.7% growth recorded on the paid claims side.

In August 2018, SBERBANK Life Insurance paid RUB 411 million* to its clients for 4,054 events. The biggest claim paid amounted to RUB 5.5 million, as confirmed by the insurer's press office.

ICIR - The International Center for Insurance Regulation will host on 15 November 2018, at the House of Finance in Frankfurt, Germany an event dedicated to the latest market and regulatory developments in the insurance markets of the Western Balkans.

CCR (Caisse Centrale de Reassurance), the public-sector reinsurer that provides cedant insurers operating in France with coverage against natural catastrophes and uninsurable risks, has ended 1H2018 with premiums worth EUR 898 million, fueled chiefly by its Natural Disaster activity (92%).

Compulsory health insurance in Azerbaijan will be fully implemented within five years, according to the director of the State Agency for Compulsory Health Insurance under the Cabinet of Ministers of Azerbaijan Zaur ALIYEV.

Natalia BELOVA has been appointed as Insurance Director at SBERBANK Life Insurance. She will be responsible for the development of new insurance products and services, as well as promotion of existing product lines and services, financial planning, and underwriting and reinsurance.

The draft of a single automated system for home property insurance "Housing Property" is prepared, ARIA will be the system operator. The law, within which this project was developed, was signed on August 3, 2018.

OCCAM Underwriting, the specialty lines-focussed managing general agent (MGA), has announced that Dr Alan PUNTER is joining the Board as a Non-Executive Director. His appointment is subject to FCA approval.

In the first half year GWP of Belarusian insurers amounted to BYN 607.18 million (EUR 262.37 million), 15.68% more than a year ago. At that non-life segment, accounting for over 90% of the market, grew by 15.89%, according to the Ministry of Finance.

A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "aa" of Allianz SE (Allianz) (Germany) and most of its rated subsidiaries (the list of the companies is available below).

In 1H 2018, the SAVA Re Group generated high premium growth both in Slovenia and in its international markets. GWP increased by 3.7% y-o-y to EUR 308.6 million. Premium growth was driven by non-life insurance in Slovenia (7.3% growth), non-life insurance abroad (16.0% growth) and life insurance abroad (11.7% growth).

For the first 7 months of 2018 MTPL premiums of local insurers decreased by 1% to RUB 129.9 billion* y-o-y, at that paid claims demonstrated a more rapid declining trend (- 29%) to RUB 79.7 billion, according to the data from the Russian Association of Motor Insurers (RAMI).

The home insurance penetration degree in Russia is quite low. According to the Director for retail insurance of INGOSSTRAKH Vitaliy KNYAGINICHEV - as of today, the total amount of insured housing property is 5-7%.

According to preliminary data of the State Insurance Supervision Service of Georgia in the second quarter of this year, local insurers generated GEL 295.28 million (~EUR 103.47 million) of direct insurance premiums.