News - Insurance

Latest XPRIMM reports were launched in Baden Baden

The latest insurance reports released by XPRIMM were presented in premiere at the Baden-Baden Reinsurance Meeting 2023: XPRIMM Insurance Report CEE, SEE & ex-USSR 1H2023 and the XPRIMM Insurance Profile TÜRKIYE for FY2022 and 1H2023.

Baden Baden, Guy Carpenter: The European market continues to deliver strong results despite demanding market condition

“The European market continues to deliver strong results over the cycle, and to differentiate itself within the global (re)insurance landscape,” Guy Carpenter’s Massimo Reina, CEO, Europe said at the Baden-Baden Reinsurance Symposium on hosted by global risk and reinsurance specialist on October 23, focusing on the theme of "Rising to the Exposure Challenge”

BMS Group appointed Andras Bohm to lead U.S. Capital Advisory

BMS Group, the rapidly-expanding global specialist insurance and reinsurance broker, has announced the appointment of Andras Bohm as the head of its U.S. Capital Advisory business and the CEO of BMS Capital Advisory, Inc. (BMS Groups’ U.S. broker-dealer) subject to regulatory approvals. Bohm will be responsible for leading the broker’s investment banking and legacy solutions team in New York, working with his UK and Bermuda counterparts and will report to BMS Re CEO, Pete Chandler.

MMC names Pat Tomlinson as President of Mercer

Marsh McLennan (MMC) announced that Pat Tomlinson has been appointed President of Mercer, the consulting subsidiary of of MMC. At the same time, Martine Ferland remains Mercer CEO and Vice Chair of Marsh McLennan and will oversee Mercer’s regional leaders until she retires on March 31, 2024.

AIG announced leadership appointments

American International Group (AIG) announced that David McElroy, currently Chief Executive Officer, General Insurance, will assume the newly created role of Chairman, General Insurance.

STATISTICS: CEE 1H2023: positive trends, but still under the high inflation’s impact

GWP in the Central and Eastern European (CEE) region, amounted to EUR 24.78 billion, showing a significant y-o-y increase of 11.8%. Meanwhile, claims paid decreased by 9.7% y-o-y, reaching EUR 11.34 billion. It's important to note that these claims figures do not include data for Croatia and Slovenia. If these two countries' payouts remain similar to the first half of 2022, the overall regional claims might match or slightly exceed the 2022 levels.

Lloyd’s warns: Global economy exposed to USD 3.5 trillion from major cyber attack

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, published a systemic risk scenario that models the global economic impact of a hypothetical but plausible cyber-attack on a major financial services payments system, resulting in widespread disruption to global business and potential global economic losses of USD 3.5 trillion.

Munich Re acquired 100% of shares in API-focused insurtech

Global reinsurer Munich Re informed it has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry’s entire ecosystem.