Estonian insurers wrote gross premiums worth EUR 344.8 million in 1H 2024, by 8.16% more y-o-y. At the same time, paid claims increased by 5.46%, to EUR 207.72 million. The market portfolio’s structure remained largely unchanged, with only very small alterations of some LoBs’ weight.

The Hungarian insurance market saw an about 5% y-o-y increase in GWP, to EUR 2.2 billion, data provided by MNB show. However, denominated in local currency (HUF, Hungarian Forint) the market results show a higher growth rate, of almost 12%, the difference reflecting the depreciation of the Hungarian Forint against Euro.

"The key topics for the (reinsurance) industry remain largely unchanged from last year, but the challenges have intensified, leading to higher demand,” said Urs Baertschi, Swiss Re's Chief Executive Officer Property & Casualty Reinsurance in Monte Carlo. He named NatCat risks, economic uncertainty and geopolitical instability among the main reasons for which direct insurers seek reinsurance protection.

Albanian insurers wrote gross premiums worth EUR 118.43 million, 14.12% up y-o-y. The double-digit growth rate is partly owed to the about 6% appreciation of the Albanian Lek. In local currency, the market growth was 7.55%.

Risk coverage is a complex business whose ultimate objective is to protect the client. Providing value for money is a priority for the insurance industry.

Connect Underwriting Limited, the specialist reinsurance MGA, announced it launched the reinsurance MGA BRICS UW (BRICS), subject to regulatory approval, which will provide capacity to emerging markets.  

Moody’s Corporation announced today that it has acquired Praedicat, a leading provider of casualty insurance analytics. The acquisition adds comprehensive casualty and liability modeling to Moody’s range of market leading solutions for the insurance industry, further enhancing its overall risk assessment strategy.

Social inflation has become the main growth driver of US liability claims, Swiss Re Institute‘s new Social Inflation Index shows. Driven by large court verdicts, social inflation raised US liability claims by 57% over the past decade, peaking at 7% in 2023.

GWP by the Slovak insurers amounted, according to the official statistics of the Slovak National Bank, to EUR 537.22 million in Q1 2024, which is by 7.25% less y-o-y.

Tuesday, 22 October, the Baden-Baden Casino will host the Georgian Evening. Re/insurance specialists from all over the world are invited, between 21.00 – 23.00, to meet their Georgian peers and celebrate the achievements of the Georgian insurance market.

Insurers of North Macedonia have written gross premiums worth EUR 67.5 million in the three months of 2024, which is 18.5% more y-o-y. Paid claims increased by 7.5%, to EUR 23.47 million.

According to the Czech National Bank data, Czech insurers ended Q1 2024 with GWP worth EUR 2.35 billion, a total sum fairly equal to the Q1 2023 one. Paid claims have decreased by 1.6%, to EUR 1.07 billion.

Under the auspices of the 30th edition of the Sarajevo Film Festival, UNIQA presented the UNIQA SEE FUTURE Foundation's support project for women filmmakers in the region of Southeast Europe.

At the end of the first half of 2024, the insurance sector of Belarus amounted to BYN 1,267.85 million (EUR 374.87 million), which is 15.50% more y-o-y in local currency, as the data published by the Ministry of Finance of the Republic of Belarus show.

Acrisure Re, the re/insurance division of global fintech leader Acrisure, announced the aappointment of David SOWREY as Managing Director and Nigel DANE as Chairman of Acrisure Re’s International Treaty business, effective immediately. Both leaders are based in London and will continue to report directly to CEO, Simon HEDLEY.

Asta, the leading third-party managing agent at Lloyd’s, announces three significant additions to its senior management team: David HOPKINS as Deputy Chief Underwriting Officer, Alex PORACCHIA as Transformation Director and Julie FLELLO as Head Of Client Management.

BMS Group (BMS), the independent specialist insurance and reinsurance broker, announced the appointment of Anna PAINTER as head of global healthcare technical operations. Based in London, Painter will report to Rob Wendin, managing director of the global healthcare liability division.

VIG Re announced that effective January 1, 2025, Tobias SONNDORFER will succeed Johannes Martin HARTMANN as Chief Executive Officer and Chairman of the Board of Directors in line with the established succession plan.

According to the 1H2024 results, amid the deteriorating premium dynamics, insurers' investment income continues to grow at double-digit rates, remaining at 27% for the second year in a row, ArmInfo writes.

Investment holding Sakartvelos Capital (Georgia's Capital) has merged three largest insurance companies - Aldagi, Imedi L and Ardi are already managed by one company, Business Georgia writes.