TOP NEWS
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by Marina MAGNAVAL, 2024-10-09 In January-August 2024 the insurance sector in Albania increased 6.64% y-o-y to ALL 16.3 billion (EUR 165.5 million), SeeNews writes.  More
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by Marina MAGNAVAL, 2024-10-09 The insurance market in Bulgaria can be characterized by positive dynamics and sustainable growth, as over the past 10 years, premium income has increased more than 2.5 times, reaching BGN 4.4 billion (EUR 5.49 billion) in 2023, with annual growth of 21%, according to Veselin Angelov, member of the Board of Directors of ABZ and executive director of Allianz Bulgaria, the Association wrote. More
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by Marina MAGNAVAL, 2024-10-09 For the damages caused by the late July storm in Latvia, insurers have already paid out EUR 17 million (not including the activity of foreign insurers in Latvia), which is the largest amount of insurance compensation in Latvia for damage caused by a single natural disaster, according to the Latvian Insurers Association (LAA) as of October 2. More
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by Marina MAGNAVAL, 2024-10-09 The credit rating agency AM Best confirmed the financial strength rating of "A" (excellent) and the issuer's long-term credit rating of "a" (excellent) on Zavarovalnica Triglav and Pozavarovalnica Triglav Re, the company said. More
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by Marina MAGNAVAL, 2024-10-09 AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Slovenian reinsurer Pozavarovalnica Sava (Sava Re), SeeNews reports. The outlook of the ratings is stable. More
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by null, 2024-10-10 SCOR announces that it has entered into exclusive negotiations with Huyghens de Participations, the holding company of the Albin Michel group, for the sale of its stake in the capital of Humensis. More
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by null, 2024-10-09 Optio Group, (Optio) a leading specialty MGA, today announces it has acquired a strategic investment in Italian MGA, Heca S.r.l. (Heca), for an undisclosed sum. This investment demonstrates Optio’s confidence in Heca’s potential for continued success, and supports Optio’s European expansion strategy. More
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by Marina MAGNAVAL, 2024-10-09 The sale of the Moscow-based company Raiffeisen Life to the Russian insurance company Renaissance Life has been concluded. UNIQA owned 75% of Raiffeisen Life; the remaining 25% was held by Raiffeisenbank Russia, which belongs to Raiffeisen Bank International, the Group announced. More
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by Marina MAGNAVAL, 2024-10-09 Bak? S??orta has been excluded from the list of insurance companies-members of the Compulsory Insurance Bureau (ISB), ABC.AZ writes with reference to the ISB. More
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by Marina MAGNAVAL, 2024-10-09 GWP and paid claims in Azerbaijan for voluntary travel insurance decreased in January-August 2024, ABC.AZ reports with reference to the Central Bank. More
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by Marina MAGNAVAL, 2024-10-09 In the first 8 months of this year, the market in Belarus amounted to BYN 1,691.9 million (~EUR 0.48 billion), which is 15.4% more y-o-y in national currency, as reported by the Ministry of Finance of the Republic of Belarus. More
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STATISTICS |
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by Marina MAGNAVAL, 2024-10-09 In the first half of 2024, the market grew to UAH 24.21 billion (EUR 558.43 million), which is 13.37% more y-o-y in local currency and indicates an increase in demand for insurance products. Non-life accounted for 89% of the total GWP, while the share of life insurance approached 11%, as data published by the National Bank show. More
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by Daniela GHETU, 2024-10-09 At the end of June 2024, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 618.7 million, up by almost 10% y-o-y, while the amount paid in claims and indemnities increased by 3.77% y-o-y to EUR 355.8 million, according to data provided by the Latvian Central Bank. More
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by Marina MAGNAVAL, 2024-10-09 North Macedonia's insurance market rose 10.66% to EUR 132.27 million, while in national currency the market growth rate was almost same (+10.49%). Claims paid by insurers increased by 2.92% to EUR 46.71 million, of which EUR 38.30 million were paid in non-life insurance and EUR 8.41 million – life indemnities. More
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by Marina MAGNAVAL, 2024-10-09 The insurance industry in Cyprus continued its upward trend in the first half of 2024, with total GWP amounting to EUR 631.8 million (+7.8% y-o-y), according to recent data from the Insurance Association of Cyprus - IAC. More
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by Marina MAGNAVAL, 2024-10-09 The regional insurance market of the former Soviet Union* countries ended the first quarter of 2024 in euros with a 5.63% decline, with the total premium volume amounting to EUR 7.62 billion, according to More
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ON THE MOVE
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by Marina MAGNAVAL, 2024-10-09 Insurance Europe, the European insurance and reinsurance federation, informed that Thea Utoft Høj Jensen has been appointed as its new director general. Thea will take over from Michaela Koller, who has served as Insurance Europe’s director general for the past 18 years, on 4 November 2024. More
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INSURANCE EUROPE NEWS
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by Daniela GHETU, 2024-10-10 The dynamic adaptation of advanced technologies, new digital services and applications is an integral part of our digitalised world. Cybercriminals and other threat actors are taking advantage of the increasing interdependencies and interconnectedness that are being created. In this context, cyber insurance has become an established part of risk management, but it requires a greater contribution from all stakeholders in society. More
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MARKETS & TRENDS |
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by Daniela GHETU, 2024-10-10 Cyber and data privacy is the number one risk across the technology, media and telecoms (TMT) sectors, as they become increasingly reliant on innovations such as artificial intelligence (AI) to drive growth, according to the Technology Media and Telecoms risk report 2024 published today by WTW, a leading global advisory, broking, and solutions company. More
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EVENTS |
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CURRENT XPRIMM REPORTS
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