On the first of November, an updated version of the risk maps of river and flash floods was launched in Czechia through the cooperation of the Czech Association of Insurance Companies (CAP) with the Ministry of Agriculture, the Water Management Research Institute and other state institutions resulted in the expansion of flood hazard maps.
Czechs lost CZK 550 million in insurance benefits in 2022 because the lack of insurance coverage. According to CAP – the insurers’ association’s estimations, out of the 116,000 unexpected property events in households last year, only an estimated two-thirds were insured. In 10 years, uninsured households in the Czech Republic cost CZK 6.8 billion.
Apollo, the independent specialist insurer and reinsurer, announces that it will launch a new Specialty Treaty class of business within the Reinsurance Division of Syndicate 1969, 1 January 2024.
During the launch of European Retirement Week in Brussels, the 14 European associations presented to EU policymakers key recommendations to ensure pension adequacy for all.
Total collected GWP of 14 insurance companies, operating in the market, for the first ten months of 2023 amounted to EUR 1.4 billion, of which EUR 243.8 million (17.0%) were life premiums, and EUR 1.2 billion (83.0%) - non-life, the Croatian Financial Services Supervisory Agency (HANFA) reports.
According to the Estonian Traffic Insurance Fund (LKF), during the first 10 months of 2023, the average annual premium for motor insurance amounted to EUR 144, which is 22% more y-o-y, the Fund said.
Vienna Insurance Group lets its shareholders continuously participate in its success since its initial listing on the Vienna Stock Exchange in 1994. With regard to dividend continuity and predictability VIG aims to pay in the future a dividend per share that is at least equal to that of the previous year and increases continuously depending on the operating earnings situation.
Estonian insurers posted January-September 2023 aggregate GWP worth EUR 477 million, 17.5% more y-o-y, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 4.5% y-o-y to ~EUR 302 million.
The Lithuania insurance market totaled EUR 1.07 billion at end-September 2023, up by 18.6% y-o-y, according to the quarterly figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims from insurance losses worth EUR 474.7 million, up by 22.2% y-o-y.
For 9M2023, total GWP of the insurance sector amounted to BYN 1,642.75 million (EUR 474.15 million), which is 20.93% more y-o-y, as follows from data published by the Ministry of Finance of the Republic. It is noteworthy that due to significant changes in exchange rates, the market result in euros was negative (-16.38%),
At the end of 3Q2023, the insurance sector in Moldova grew by almost 20%, reaching MDL 2.18 billion (EUR 114.13 million), according to data published by the National Bureau of Statistics of the Republic of Moldova. At the same time, market growth in euros differs slightly – 19.07%.
From January 1, 2024, current Global Head of Entertainment, Michael Furtschegger will be the new Regional Managing Director for Allianz Commercial in Germany & Switzerland, succeeding Hans-Jorg Mauthe who has held various senior leadership positions in his 30+ year career with Allianz Group - retires at the end of 2023, as the German group announced in a statement.
Mark Klein, the former Chairman of the Board of ERGO Digital Ventures AG and Chief Digital Officer (CDO) of ERGO, will transition to the ERGO Group AG Board of Management as of January 1, 2024. His new board department will be responsible for all strategic digitalization initiatives, group marketing, and global sales partnerships.
Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.
For the fifth year in a row, Allianz has been named the world’s number one insurance brand in Interbrand’s 2023 Best Global Brands ranking, as the German insurer announced in a press release.
For the first 10 months of 2023, 20 insurance companies in Azerbaijan collected over AZN 1 billion (~EUR 0.55 billion), which is 27.8% more y-o-y, ABC.AZ wrote
with reference to the Central Bank (CBA).
Generali in 3Q2023 achieved continued growth in operating and net result, as well as confirmed solid capital position with Solvency Ratio at 224%, the Group said in its recent press-release
The most common type of insurance in Georgia is health insurance, which accounts for 50% of the insurance business. At the same time, it is necessary to introduce compulsory insurance in the country, according to the general director of the Ardi insurance company, Mikhail Japaridze, Business Georgia wrote
In terms of the number of MTPL contracts, concluded for the third quarter of 2023, the TOP 3 includes ORANTA, TAS and Knyazha Vienna Insurance Group. In terms of collected GWP, TAS ranks first, as MTIBU
(Motor (Transport) Bureau of Ukraine) reports in its press release.
The insurance company VUSO (one of the TOP 10 insurers in Ukraine) collected premiums worth about UAH 2 billion (~EUR 51.04 million) in January-September 2023, which is 64.4% more y-o-y, Forinsurer reports