As of January 1, 2024, Gergely Bacso will take over the position of Allianz Hungaria Zrt. CEO and Chairman of the Board from Alexander V. Protsenko, Portfolio.hu reports with reference to the insurance company's announcement.

Global re/insurance broker Aon reported Q3 2023 total revenue worth USD 2.95 billion, up by 10% y-o-y, while total operating expenses increased from USD 2.10 billion to USD 2.26 billion.

Following the decision of Romanian ASF from 17 March to withdraw the license of Euroins Romania, the Bulgarian energy-financial holding Eurohold – the owner of Euroins Insurance Group mentioned in a statement that it officially informed the Government of Romania of their intention to initiate an international arbitration to “protect the group’s investment in Romania, unless the current dispute over Euroins Romania’s case is remedied quickly, and the damages caused to the group are duly compensated”.

The Agricultural Insurance Fund of Azerbaijan, which insures farmland and farms, has begun paying damages to farmers in connection with events and registered losses during 2023, Trend reports.

Balcia insurance became a new member of the Association of Estonian Insurance Companies (EKsL). All 18 insurance companies operating in Estonia are members of EKsL, Association of Estonian Insurance Companies (EKsL) informed.

The total assets of Moldovan insurance companies in 1H2023 increased to MDL 4.6 billion (EUR 0.23 billion). The growth rate was 8.9% (or by MDL 377.2 million), bizlaw.md writes.

Montenegrin insurer Lovcen Osiguranje, which is among the biggest insurers in SEE and is part of the Slovenia-based Triglav Group, reported a net profit of EUR 3.3 million in the first nine months of 2023, up 73% y-o-y, SeeNews reports.

ARX, one of the top non-life insurers in Ukraine, collected almost UAH 2.8 billion (EUR 71.46 million) for 9 months of 2023, which is 41% more y-o-y. The company's paid claims exceeded UAH 988 million (+27%), and the number of contracts increased by 102%, Forinsurer reports.

MARSH McLENNAN (MMC) reported Q3 2023 revenue of USD 5.4 billion, an increase of 13% compared with the third quarter of 2022. Operating income was USD 996 million, an increase of 26% from a year ago. Net income attributable to the Company was USD 730 million, or USD 1.47 per diluted share, compared with USD 1.08 in Q3 2022.

Insured losses from natural disaster events had reached USD 88 billion by the end of Q3 2023 – 17% higher than the 21st century annual average, according to the Q3 Global Catastrophe Recap report launched by Aon plc.

The Talanx Group expects to report a net income of more than EUR 1.25 billion for the first nine months of the current financial year 2023 due to a strong operating performance of particularly the primary insurance segments, as the German insurance group informed in a statement.

Croatian conglomerate ADRIS grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) informed that it signed a joint investment agreement for renewable energy sources with and ENCRO Group.

The budget of the Compulsory Health Insurance Fund in Azerbaijan for 2024 will amount to AZN 2.811 billion (EUR 1.56 billion), ABC.AZ writes with reference to a message from the Ministry of Finance.

Euroins Ukraine, a subsidiary of the European insurance group Euroins Insurance Group (EIG), collected UAH 408 million (~EUR 10.41 million) for the first 9 months of 2023, which is 22% more y-o-y, Forinsurer reports.

The Hungarian insurance market shows healthy growth in terms of both revenues and profitability, but the decreasing number of intermediaries and low penetration mean challenges for the sector, Ministerial Commissioner Zsolt Kovacs spoke at the conference of the Hungarian Association of Independent Insurance Brokers (FBAMSZ) in Esztergom, Portfolio.hu wrote.

The GWP of Slovenian insurers rose 9.5% on the year in the first six months of 2023, reaching EUR 1.62 billion, according to the end-June 2023 market data from the Slovenian Insurance Association.

Global insurance broker Marsh part of Marsh McLennan, announced the launch of a new Marsh Specialty global cyber practice that integrates all of Marsh’s cyber capabilities across insurance, risk intelligence, incident management, and cybersecurity around the world.

Allianz Commercial has appointed Claudia Valencia as Global Head of Portfolio Solutions, joining on January 8, 2024. She will be based in London, and report jointly to Chief Underwriting Officer Shanil Williams and Global Head of Distribution Jeremy Sharpe.

On the insurance market of Armenia, MTPL loss ratio continued to grow and reached 66% as of October 1, 2023 (vs 64% a year ago), ArmInfo reports with reference to the Bureau of Motor Insurers of Armenia.

As of July 2023, there were 4.4 million passenger cars in Kazakhstan, which is 11.4% more y-o-y. At the same time, the motor insurance market has also grown noticeably: Motor Hull for January - July 2023 reached a record KZT 63.9 billion (~EUR 0.13 billion), which is 2.4 times more than in the same period last year, Allinsurance.kz wrote.