STATISTICS: UKRAINE, 1H2019: total GWP in local currency increased by 16.5% y-o-y with over 98% of GWP collected by TOP-100 out of 249 companies

26 September 2019 — Marina MAGNAVAL
Market GWP in 1H2019 increased by 16.5% y-o-y and amounted to UAH 27.3 billion (~EUR 918 million), according to the statistical data, published by the regulator.

At that the shares of life and non-life in the market portfolio remained almost unchanged. GWP from individuals amounted to 37.2% of the total market, and GWP from legal entities reached 62.8%. Among voluntary classes the highest growth rates were demonstrated by medical insurance (+43.21%), Motor Hull (+23.8%) and insurance against fire and other perils (+29.08%). Among compulsory classes - MTPL increased by almost 12%, to UAH 2.46 billion (~EUR 82.9 million), GWP of Green Card policies went up by 36% y-o-y.

Market paid claims increased by only 9.84%. A significant decline of paid claims was observed in life insurance (-27.12%), while non-life paid claims jumped by 12.38%.

The total number of market participants continues to reduce. In 1H2019 the number of companies decreased by 42 in comparison to 1H2018. Anyway, at the end of 1H2019 the total number of insurers remained quite big (249 - of which 223 are non-life and 26 - life insurers). At the same time, the major part of the portfolio (98.2%) is accumulated by TOP-100 non-life companies.

The non-life leader in terms of GWP is ARX (former AXA before rebranding) (UAH 1.12 billion/EUR 37.78 million), followed by UNIQA (UAH 1.11 billion/EUR 38.34 million), and ARSENAL Insurance (UAH 1 billion/EUR 34.61 million). On the top of life ranking is METLife with its life share of almost 27%.

Access and download 1H2019 Ukrainian insurance market statistics.

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