The Czech insurance market totaled CZK 230.43 billion (EUR 9.15 billion) at the end of 2024, up by 8.13% y-o-y in national currency, according to the year-end figures published by the Czech National Bank (CNB).

Claims paid by local insurers totaled CZK 138.43 billion (EUR 5.49 billion) up by almost 27% y-o-y, of which CZK 38.5 billion related to property insurance, who saw a huge increase (156%) in the claims paid following the September floods in Czechia.

SCOR, AXA XL and Marsh have joined forces and expertise to support the energy transition through their involvement in a pioneering maritime transport project led by TransOceanic Wind Transport (TOWT), a French shipping company proposing a cleaner way to ship cargo in the form of sailing vessels.

In 2024, Hungarian farmers paid over HUF 24.9 billion (~EUR 60.7 million) in crop insurance premiums, 15.7% less y-o-y. According to Trade Magazine, approximately HUF 23.9 billion -or 96% of the total premiums - were associated with the state’s ex-post premium subsidy scheme.

The regional insurance market of the former Soviet Union* countries grew by 45.68% in euros in 2024, amounting to EUR 42.41 billion, according to xprimm statistics.

The shareholders of Zurich Insurance Group (Zurich) confirmed Michel M. Liès as Chairman of the Board of Directors (Board) at the recent Annual General Meeting (AGM). They also elected Thomas Jordan as a new member and confirmed all current Board members who stood for re-election, the Group said in its press release.

Estonian fintech company Iute Group entered into partnership with Allianz Partners and GrECo to offer digital, everyday-use insurance solutions in Iute’s target markets, the Estonian company said on its website.

Slovenian reinsurer Pozavarovalnica Sava (Sava Re) said that Croatian insurer Croatia Osiguranje has raised its stake in Sava Re by 4.87% to 19.04% last week. Croatia osiguranje is the largest and oldest insurance company in Croatia. The company is a market leader with a strong focus on digitalization.

Marsh, the world’s leading insurance broker and risk advisor, and a business of Marsh McLennan, announced the launch of CyberShore Bermuda, an exclusive, excess cyber insurance facility that provides Marsh clients with enhanced protection and a streamlined client experience.

According to data collected by the Polish Insurance Chamber (PIU), as of December 31, 2024, GWP in the banking channel was PLN 6.32 billion (~EUR 1.48 billion), which is 3% higher y-o-y (PLN 6.11 billion), and at the same time the second-best result since 2020 (in 2021 bancassurance amounted to PLN 6.83 billion), Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

Swiss Re's shareholders approved all motions put forward by the Board of Directors, among which the distribution of an ordinary dividend of USD 7.35 per share and election of Morten Hübbe and George Quinn as new Board members for a one-year term of office at the recent Annual General Meeting (AGM).

The insurance market in Turkiye is expected to expand by 35-40% in 2025, as inflation slows, according to data from the Insurance Association of Turkiye (TSB), Middle East Insurance Review reports. The average inflation rate in Turkiye was around 58.5% in 2024 and projected at 24% for this year.

The National Bank of Ukraine (NBU) has submitted for discussion a draft of amendments to the regulatory legal acts governing insurers’ activities. The document provides for adjustments to approaches to the formation of technical reserves, Forinsurer writes.

UNIQA capital requirement ratio in 2024 improved to 264%. The solvency capital requirement (SCR) ratio in accordance with Solvency II rose by a further 9 percentage points y-o-y. This key figure, which serves as an indicator of capitalisation, was at a high level of around 264% as at 31 December 2024 (55% in 2023).

Zurich Insurance Group has acquired a minority stake in Serbian-founded and Hungary-registered car insurtech startup Ominimo Insurance at a valuation of EUR 200 million, according to Ominimo, SeeNews writes. Neither the value of the investment, nor the size of the stake were disclosed.

Nomad Insurance, which is among the top 10 insurers in Kazakhstan in terms of GWP, is participating in a reinsurance program, covering property risks of the world's largest media corporation The Walt Disney Company, the insurer writes.

Thea Utoft Høj Jensen, Director General of Insurance Europe will attend FIAR 2025 at the kind invitation of UNSAR – the Romanian professional association of insurers. She will give a keynote speech in anticipation of which she shared with XPRIMM readers the following statement:

VIG Re announces its final, audited financial results for 2024. It marks a successful year in terms of underwriting result and gross written premium, despite continued above-average catastrophe losses across the insurance industry.

VIG Re announced changes to its Supervisory Board, notably the departure of Dr. Peter Thirring, who is stepping down after nine years of which he served seven years as Chairman. Peter Höfinger, Deputy CEO of Vienna Insurance Group (VIG), will assume the role of Chairman of the VIG Re’s Supervisory Board as of 4th April 2025.

Ukraine's insurance market grew by 15.53% to UAH 54.31 billion (EUR 1.23 billion) by the end of 2024, including UAH 5.72 billion in life insurance and UAH 48.59 billion in non-life insurance, according to data published by the National Bank (NBU).

In 2024, GWP collected by insurance companies in Georgia reached GEL 1.25 billion (EUR 429.74 million), which is 18.41% more y-o-y, as the data published by the Insurance Supervision Service of Georgia show.