News - Insurance

Aon names new CEO of Reinsurance Solutions in India

Global re/insurance broker Aon announced that Shailendra Sapra had been named CEO of the firm’s Reinsurance Solutions in India and a member of the APAC region’s Reinsurance Executive Committee, effective June 1st, 2024.

CO Board Member Vanco Balen to leave the company

CROATIA osiguranje, the largest Croatian insurer and one of the biggest market players in Adriatic Region, announced in a statement published on the ZSE web-site (Zagreb Stock Exchange), that that the Management Board Member Vanco Balen will leave the company.

Munich Re to strengthen local P&C Underwriting with revised set-up in Asia Pacific & Africa

Reinsurer Munich Re announced it strengthens its in-market Underwriting leadership capability in Asia Pacific, Middle East & Africa (APAC MEA). “The mandate of local market Underwriting positions will be strengthened. The high level of expertise that has been built in Munich Re’s Underwriting units allows for greater localization of the Underwriting teams and closer client proximity in-country.”

Rich Soja appointed Global Head of Marine at Allianz Commercial

Allianz Commercial (is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks) announced a key appointment to its global Specialty leadership team taking effect immediately.

POLAND: Bancassurance returns to growth

After a decline in the value of insurance sales in the banking channel recorded in 2022, last year there was several percent increase in bancassurance due to improved results from the distribution of policies by banks in both sectors, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

MMC reported Q1 revenue worth USD 6.5 billion

MMC - MARSH McLENNAN posted Q1 2024 consolidated revenue worth USD 6.5 billion, representing an increase of 9% compared with the first quarter of 2023, while operating income rose 12% to USD 1.9 billion.

ESG IN INSURANCE Conference, Vienna, 16 April 2024

The second edition of ESG IN INSURANCE Conference took place in Vienna, organized by XPRIMM, with Vienna Insurance Group as official partner, and Reimpact-Re and IUC Group as partners.

AM Best: insurers have coped well with a highly volatile operating environment

Insurance industry has shown resilience to market events while navigating a heightened operating environment in a world with greater uncertainty and increased inter-connectivity of risks, AM Best analysts Morgane Hillebrandt and Dr. Angela Yeo have remarked at the AM Best's CEE Insurance Market Briefing – Vienna.

Swiss Re publishes its 2023 Financial Condition Report

Swiss Re published the 2023 Financial Condition Report for the Swiss Re Group and its regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2023.

STATISTICS: RUSSIA, FY2023: net profit at the end of the year almost doubled

In 2023, the insurance market grew by a quarter to RUB 2.28 trillion (EUR 23.03 billion). The growth drivers in life insurance were all main types, including investment, accumulative and credit insurance, while in non-life insurance – motor segment, follows from data published by the Central Bank.

STATISTICS: GEORGIA, FY2023: market exceeded GEL 1 billion

According to the Georgian Insurance Supervision Service, the market in 2023 amounted to GEL 1.06 billion (EUR 357.47 million/+13.35%), which is almost 17% more y-o-y. Insurers’ paid claims reached GEL 614.29 million (EUR 206.46 million/+20.29%), which indicates an increase of 24%.