For 9M2023, total GWP of the insurance sector amounted to BYN 1,642.75 million (EUR 474.15 million), which is 20.93% more y-o-y, as follows from data published by the Ministry of Finance of the Republic. It is noteworthy that due to significant changes in exchange rates, the market result in euros was negative (-16.38%),
At the end of 3Q2023, the insurance sector in Moldova grew by almost 20%, reaching MDL 2.18 billion (EUR 114.13 million), according to data published by the National Bureau of Statistics of the Republic of Moldova. At the same time, market growth in euros differs slightly – 19.07%.
From January 1, 2024, current Global Head of Entertainment, Michael Furtschegger will be the new Regional Managing Director for Allianz Commercial in Germany & Switzerland, succeeding Hans-Jorg Mauthe who has held various senior leadership positions in his 30+ year career with Allianz Group - retires at the end of 2023, as the German group announced in a statement.
Mark Klein, the former Chairman of the Board of ERGO Digital Ventures AG and Chief Digital Officer (CDO) of ERGO, will transition to the ERGO Group AG Board of Management as of January 1, 2024. His new board department will be responsible for all strategic digitalization initiatives, group marketing, and global sales partnerships.
Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.
For the fifth year in a row, Allianz has been named the world’s number one insurance brand in Interbrand’s 2023 Best Global Brands ranking, as the German insurer announced in a press release.
For the first 10 months of 2023, 20 insurance companies in Azerbaijan collected over AZN 1 billion (~EUR 0.55 billion), which is 27.8% more y-o-y, ABC.AZ wrote
with reference to the Central Bank (CBA).
Generali in 3Q2023 achieved continued growth in operating and net result, as well as confirmed solid capital position with Solvency Ratio at 224%, the Group said in its recent press-release
The most common type of insurance in Georgia is health insurance, which accounts for 50% of the insurance business. At the same time, it is necessary to introduce compulsory insurance in the country, according to the general director of the Ardi insurance company, Mikhail Japaridze, Business Georgia wrote
In terms of the number of MTPL contracts, concluded for the third quarter of 2023, the TOP 3 includes ORANTA, TAS and Knyazha Vienna Insurance Group. In terms of collected GWP, TAS ranks first, as MTIBU
(Motor (Transport) Bureau of Ukraine) reports in its press release.
The insurance company VUSO (one of the TOP 10 insurers in Ukraine) collected premiums worth about UAH 2 billion (~EUR 51.04 million) in January-September 2023, which is 64.4% more y-o-y, Forinsurer reports
The Retail International division of the Talanx Group successfully closed its acquisition of the Liberty Seguros business with retail customers and small to mid-sized enterprises in Brazil on 22 November 2023, as the German insurer informed in a statement.
Austrian insurance group UNIQA reported January-September 2023 premium growth of 9.4% to EUR 5.5 billion and a significant increase in earnings before taxes to EUR 305 million. “Above all, property and casualty insurance and health insurance contributed to this very satisfactory growth”, as the Austrian insurer pointed out in a statement.
“We are not in tranquil times. We are confronted almost daily with a new crisis. So much so that we could almost say that we are living in a state of permacrisis. But despite this, we – supervisors and also industry – are riding out the storm. Our sectors are resilient, sustainable and competitive,” said EIOPA’s Chairperson Petra HIELKEMA, in her keynote speech opening the EIOPA Conference on 21 November 2023.
At the request of the Vienna Insurance Group (VIG), Gallup International examined risk competence in nine countries in Central and Eastern Europe (CEE). The representative study revealed clear deficits and widespread fallacies regarding financial security provided by state and social institutions.
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.
Insurance Europe and PensionsEurope welcome the measures included in the European Commission’s ESG (environmental, social and governance) Rating Regulation proposal, as it will lead to a significant enhancement in the transparency of ESG ratings, a press release issued by the two European professional bodies stated.
Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports.
Last year an increase in life bancassurance sales through banks was observed, while non-life bancassurance has still not returned to growth.
Marsh announced the appointment of Nick Faull as Head of Climate and Sustainability Risk, effective 1 April 2022. Based in London, Mr. Faull will report to Amy Barnes, Head of Climate and Sustainability Strategy, Marsh.