Based on the market result, 98% of GWP is accumulated by 100 risk insurers, while the life segment has rather moderate level of competition. GWP, generated by insurers in insurance and reinsurance for 6 months, amounted to UAH 23.4 billion, of which 36.6% was received from individuals and 63.4% from legal entities. Risk insurers' GWP amounted to UAH 21.69 billion (92.6%) and life insurers' GWP was UAH 1.73 billion (7.4%).
Among risk insurers, the leader in terms of growth rate is UNIQA (22.17%) with a risk insurance market share of 5.26%. Second place was taken by CREMEN (with a market share of 5.11%), followed by AXA Insurance (4.22%). In terms of paid claims, the leader is AXA insurance; the paid claims ratio of the company amounted to almost 50%, followed by UNIQA and PZU Ukraine. From the TOP-10 the highest level of paid claims was recorded by ASKA (58.36%).
Ukrainian life insurers generated GWP 39.2% more y-o-y in the first half year, with total premiums increasing to UAH 1.733 billion. 96% of life premiums were received from individuals and 4% from legal entities. Total life paid claims also went up by 46.9% to UAH 391 million.
The leading life insurer in terms of GWP is MET Life with its segment share of almost 25%, followed by UNIQA Life (16.54% market share), and in last place of the TOP-3 is TAS (13.61%). Among the TOP-5 life insurers with a market share of more than 10% each, the most rapid growth rate in the first six months was recorded by ASKA-Life (+131.45%). In terms of paid claims, the leading life insurer is UNIQA-Life, and in terms of the number of insurance events in 1H2018 the leader is MET Life (3,136 of events in the first half year).
Access http://xprimm.com/ and download 1H2018 Ukrainian insurance market statistics.
Find detailed 1H2018 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2018, to be launched on 21 October, in Baden Baden http://www.xprimmevents.com/baden/