TOP NEWS
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by Marina MAGNAVAL, 2025-02-04
Nikolay Stanchev, Chairman of the Board of the Association of Bulgarian Insurers (ABZ) and CEO of Generali Bulgaria, speaking about the main trends and prospects of the insurance market in Bulgaria, pointed out that in recent years the market has been developing steadily, and life insurance maintains a good growth rate (9% for the first six months of 2024).
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by Marina MAGNAVAL, 2025-02-04
According to the Estonian Motor Insurance Fund (LKF), there were 33,700 motor insurance claims in Estonia last year, with a total loss of EUR 80 million. In addition, Estonian vehicles caused 2,400 traffic accidents abroad, with a total loss of EUR 10 million, LKF said.
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by Daniela GHETU, 2025-02-05
A key concern for Romanian insurers in early 2024 was the 22% rise in daily claims payments, reaching EUR 5.6 million from EUR 4.6 million in 2023, including FGA payouts and insurer reserves, revealed Alexandru Ciuncan, President of UNSAR, the professional association of the Romanian insurers.
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by Daniela GHETU, 2025-02-05
Romanian insurance companies will see a significant reduction in their financial contributions to the Romanian Motor Insurers’ Bureau (BAAR) starting this year, following a phased reimbursement process set to conclude by 2027.
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by Daniela GHETU, 2025-02-05
SorS Academy has unveiled its lineup of specialized insurance and reinsurance courses for 2025, catering to professionals seeking in-depth knowledge and hands-on expertise. Here’s a look at the key programs:
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by Marina MAGNAVAL, 2025-02-04
For the second year in a row, LIGA Insurance tops the list of major taxpayers in Armenia among insurance companies. According to the State Revenue Committee data for January-December 2024, LIGA Insurance ranks 453rd (vs 384th a year earlier) on the list, having paid AMD 734.7 million (~EUR 1.92 million) to the state budget, ArmInfo reports.
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by Marina MAGNAVAL, 2025-02-04
Over the past three months, the National Bank of Moldova (NBM) has imposed sanctions on five out of nine insurance companies operating in the Republic of Moldova, imposing fines of hundreds of thousands of MDL, bizlaw.md writes with reference to the NBM.
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by Marina MAGNAVAL, 2025-02-04
Canadian group Fairfax Financial Holdings completed a shareholder agreement with the European Bank for Reconstruction and Development and became 100% owner of three Ukrainian insurance companies - ARX, ARX Life and UNIVERSALNA, Forinsurer reports.
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by Marina MAGNAVAL, 2025-02-04
The State Insurance Organization of Turkmenistan (SIOT) was assessed by the Fitch Ratings international rating agency. It is noted that economic growth of SIOT is reflected in the Fitch Ratings assessments.
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by Marina MAGNAVAL, 2025-02-04
MetLife, one of the world’s leading financial services companies, announced it is among Fortune magazine’s 2025 list of the “World’s Most Admired Companies”.
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by Marina MAGNAVAL, 2025-02-04
Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, reported financial results for the fourth quarter and year ended December 31, 2024.
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by Marina MAGNAVAL, 2025-02-04
Chubb reported net income for the 4Q2024 of USD 2.58 billion, and core operating income of USD 2.45 billion. Consolidated net premiums written reached USD 12.1 billion, with Global P&C and Life insurance up 6.7% and 7.6%, the company said in its press release.
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by Marina MAGNAVAL, 2025-02-04
Global insurance and reinsurance broking group Aon has reported results for the three and twelve months ended December 31, 2024. Total revenue in 2024 increased 17% to USD 15.7 billion compared to the prior year reflecting acquired revenues from NFP and 6% organic revenue growth.
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STATISTICS
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by Daniela GHETU, 2025-02-05
The Albanian insurance market grew significantly in 2024, with gross written premiums reaching ALL 24.505 billion (EUR 249.67 million), 7.02% up y-o-y. Additionally, the number of insurance contracts grew by 8.84%, totaling 1,595,687 contracts for the year, data from the Albanian Financial Supervisory Authority (ASFA) show.
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by Marina MAGNAVAL, 2025-02-05
The insurance market of Azerbaijan grew by 10.69% in 2024, reaching AZN 1.35 billion (EUR 763.48 million). The growth driver is life insurance, which increased by 16.65% and generated over 54% of all premiums, according to statistics published by the National Bank.
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by Marina MAGNAVAL, 2025-02-05
According to the FY2024 results, the insurance sector of Kazakhstan grew by 41.38%, reaching KZT 1,679.48 billion (EUR 3.07 billion). More than 58% of all market premiums came from non-life insurance.
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MARKETS & TRENDS
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by Marina MAGNAVAL, 2025-02-05
In 2024 as the global mean temperature exceeded 1.5°C above pre-industrial levels for the first time, the insurance protection gap for natural catastrophes is estimated to stand at 60%, according to WTW’s Natural Catastrophe Review (July – December 2024), published by WTW, a leading global advisory, broking, and solutions company.
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by Marina MAGNAVAL, 2025-02-05
Generali Global Corporate & Commercial (GC&C) and Descartes Underwriting announced the launch of the new Lumyna Twelve Capital Parametric Insurance Linked Securities (ILS) Fund, which is a pioneer in the fast-growing ILS market and is a significant step forward in the GC&C and Descartes partnership, aimed at expanding the use of parametric solutions in the natural catastrophe insurance space.
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by Marina MAGNAVAL, 2025-02-05
COB, an international organisation active in the motor insurance sector and acting for the protection of cross-border road traffic victims, announced the launch of a new campaign which aims to encourage insurance providers and insurance bodies to support the ‘Charter of Road Traffic Victims Rights’, the press release says.
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ON THE MOVE
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by Daniela GHETU, 2025-02-05
Willis, a WTW business, announced the appointment of Derrick Easton as the new Global Head of Alternative Risk Transfer (ART) and Head of Western Europe for Risk and Analytics.
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by Daniela GHETU, 2025-02-05
SCOR announced the appointment of Holger Schaefer as Global Head of Casualty & EIL, within SCOR Business Solutions, as of 1st March 2025. Holger will be based in Cologne and will report to Claire McDonald, CEO of SCOR Business Solutions.
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by Marina MAGNAVAL, 2025-02-04
Willis, a WTW business, announced the appointment of Pat Donnelly as the new Head of Risk & Broking (R&B), North America, WTW, a leading global advisory, broking and solutions company said in its press release.
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by Marina MAGNAVAL, 2025-02-04
Chubb announced two leadership appointments within its Overseas General Insurance business (COG) to enhance underwriting consistency and drive international growth. Tim Stapleton, Executive Vice President, Financial Lines, Overseas General Insurance, has been appointed to the newly created role of Chief Underwriting Officer, Overseas General Insurance.
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by Marina MAGNAVAL, 2025-02-04
American International Group (NYSE: AIG) announced that effective immediately Jon Hancock will take on additional responsibilities as it organizes its business into three distinct segments: North America Commercial Insurance, International Commercial Insurance and Global Personal Insurance, AIG said in its press release.
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EVENTS
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CURRENT XPRIMM REPORTS
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