TOP NEWS
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by Daniela GHETU, 2025-02-26
The cost of vehicle repairs covered by MTPL insurance has continued to rise steadily over the past four years, according to a recent study by the Romanian Motor Insurers’ Bureau (BAAR) based on using data from the Audatex platform, incorporating over 650,000 repair estimates from service shops across Romania.
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by Daniela GHETU, 2025-02-27
Survey results show that 8 out of 10 Romanians would choose a repair shop that has a contract with their MTPL insurer, ensuring a smoother claims process and predictable repair costs, sociological research by IRES showed.
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by Marina MAGNAVAL, 2025-02-24
Generali Insurance has decided to withdraw from the Serbian Chamber of Commerce (PKS) and the Association of Insurers of Serbia (UOS), after both organizations refused to respond to recent media attacks targeting the company's Executive Board, Dragan Filipovi?, Serbia Business News wrote.
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by Daniela GHETU, 2025-02-26
Munich Re has exceeded its profit targets for the fourth consecutive year, reporting a net result of EUR 5.7 billion for 2024, surpassing the initial guidance by EUR 700 million. Looking ahead, Munich Re aims for a net result of EUR 6 billion in 2025, bolstered by successful renewals as of January 1, 2025.
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by Marina MAGNAVAL, 2025-02-24
The Dutch insurer Aegon reported second half year 2024 results. Net profit was EUR 741 million. Operating result was EUR 776 million, up 14% compared with the second half of 2023, the company said in its press release.
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by Marina MAGNAVAL, 2025-02-24
NN Group, an international financial services company, continued strong business performance in 2024. Full-year operating result increased to EUR 2.6 billion; the net result increased to EUR 1.6 billion from EUR 1.2 billion in 2023.
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by Marina MAGNAVAL, 2025-02-24
Zurich Insurance Group (Zurich) delivered record results, driven by strong momentum in all areas of the business, with P&C and Life achieving their highest-ever business operating profits and the Farmers Exchanges lowering their combined ratio by 12 percentage points in just one year.
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by Marina MAGNAVAL, 2025-02-24
The net profit of the insurance sector in Armenia, after a 4.5-fold jump in 2022, began to decline in 2023, remaining in this trend in 2024 with a little slowdown in rate from 33% to 26%.
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by Marina MAGNAVAL, 2025-02-24
The charter capital of two companies of the Nomad Insurance Group — Nomad Insurance and Nomad Life — has been increased by KZT 15.5 billion (~EUR 28.36 million).
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by Marina MAGNAVAL, 2025-02-24
TAS Insurance Group, one of the leaders in the insurance market, collected UAH 525.33 million (~EUR 12.08 million) under concluded insurance contracts in January 2025, which is 46.8% more y-o-y, Forinsurer writes.
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by Marina MAGNAVAL, 2025-02-24
During the Tashkent Marketing Forum 2025, which took place on February 15, Uzagrosugurta received the award “For contribution to the development of online insurance in Uzbekistan in 2024”, gazeta.uz writes.
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STATISTICS
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by Marina MAGNAVAL, 2025-02-24
In 2024 the insurance market of Armenia practically did not grow - the growth was less than 2%, total GWP reached AMD 72.37 billion (EUR 174.86 million), as shown by the data of the Financial Rating of Insurance Companies provided to ArmInfo. It’s worth noting that in euro the market grew by 10.29% thanks to a more favorable exchange rate compared to 2023.
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by Daniela GHETU, 2025-02-27
The Slovene insurance market went down, overall, by almost 11% y-o-y in 2024, consolidated GWP reaching EUR 2.73 billion. While life insurance GWP grew by 5.7%, to EUR 885 million, the non-life segment saw a 17% depreciation of the GWP figure, to EUR 1.84 billion.
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MARKETS & TRENDS
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by Daniela GHETU, 2025-02-26
The growing financial burden of natural disasters is exposing the limitations of national insurance systems across Europe, fueling calls for a coordinated EU-wide catastrophe coverage scheme. As climate-related risks intensify, experts warn that existing national institutions are struggling to keep pace, leaving vast economic losses uninsured.
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by Daniela GHETU, 2025-02-27
Threats against individuals or client assets made about 26% of all incidents reported by clients last year to Alert:24 - the in-house risk advisory and crisis support service provided by Willis, a WTW business. Closely following, at 21% each, were emergency political repatriations of employees or family members and kidnaps for ransom.
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ON THE MOVE
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by Marina MAGNAVAL, 2025-02-24
Mart Jesse, the long-time chairman of the board of the Estonian Insurance Association (EKsL) and the Estonian Motor Insurance Fund (LKF), will step down in mid-September when his service contract expires. A public competition will be held to choose a new chairman of the board, the Association said.
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by Daniela GHETU, 2025-02-27
Swiss Re’s commercial insurance arm announced today that Katie McGrath is appointed Chief Underwriting Officer. It also unveiled a new organisational structure to serve corporates and brokers more closely at country level with the introduction of Market Units.
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by Marina MAGNAVAL, 2025-02-24
Aon, a leading global professional services firm, announced that Jennifer Richards has been selected as CEO of Asia Pacific, effective 1 March.
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by Marina MAGNAVAL, 2025-02-24
American International Group (AIG) announced that Juan Perez, Executive Vice President and Chief Information Officer (CIO) of Salesforce, has been elected to its Board of Directors as an independent Director, effective immediately.
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