STATISTICS: UKRAINE, 1Q2017: GWP collected by local insurers up by 31.69%

In 1Q2017, GWP collected by local insurers' went up by 31.69% y-o-y, to UAH 10,895.90 million, of which UAH 10,263.30 million for the non-life insurance segment (up by 34.82%), while life insurance saw a decrease by 4.31%.

According to the Ukrainian State Commission for Regulation of Financial Services, 94.9% of insurance payments for the life segment during this period were received from individuals and 5.1% - from the legal entities. At the same note, during the analyzing period, the life insurers paid indemnities of UAH 129 million, by 21% more than in 1Q2016.

In 2017 the market concentration trend continued. Thus, at the beginning of 2016 on the local market were active about 306 non-life insurers and 46 life insurance companies, while a year later, their number decreased till 268 non-life and 39 life organizations which maintained their licensed to carry out insurance activities.

Top-20 life insurers in 1Q2017 had a 99.8% of the business compared to 99.2% in 1Q2016.

The Top-20 non-life insurance companies, in January-March 2017, concentrated about 70% of the total GWP, while in the same period of 2016 - 67.8%.

Access www.xprimm.com and download the 1Q2017 Ukraine insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

UKRAINE: 63% of complaints in 2018 were about MTPL

According to the National Financial Services Committee, the number of complaints regarding insurance activities in 2018 remained almost unchanged (5381 vs 5389 in 2017). At that the major part (63%) of the complaints were about MTPL, as Forinsurer wrote.

2019-02-14

UKRAINE: 13 insurers left the market in January-September2018

According to the National financial services committee of Ukraine, in order to remove unreliable players from the financial market, 126 organizations, including 13 insurance companies, were removed during January-September, as the member of the Committee, Aleksander ZALETOV informed.

2019-01-10

ON THE MOVE

GENERALI Group results for year 2018

In 2018, GENERALI Group operating result reached EUR 4,857 million (+3.0%), with a net profit of EUR 2,309 mil. (+9.4%). The total gross written premiums (GWP) of the Group amounted EUR 66,691 mil. (+4.9%).

14.03.2019

MetLife announced leadership changes as part of CEO transition

MetLife announced a series of changes to its senior leadership ranks in connection with its CEO transition, all of which are effective May 1, 2019. In January 2019, the BoD announced that Michel KHALAF, President, U.S. Business and EMEA, will become MetLife's President, CEO and Member of the Board effective May 1, replacing Steven KANDARIAN, who is retiring.

14.03.2019

HANNOVER RE launches an insurtech innovation platform

Germany-based Hannover Re launched a platform designed to bring the insurance companies and insurtech innovators closer. Through the "hr | equarium" platform, Hannover Re wants to facilitate the connection between supply and the demand for insurtech solutions, taking advantage of its worldwide spread.

14.03.2019

TOP EVENT

Conclusions: TBILISI - the first Georgian International Insurance Conference

Today takes place in Tbilisi the first Georgian International Insurance Conference, an event that will put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system is the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

Motor insurance - becoming more financially efficient and consumer friendly

Under the strong pressure put by the technological evolution, the motor insurance business is rapidly changing, both in operational terms and, most visible, in the way insurers are interacting with their customers. Step by step, the insurers' relationship with customers evolves from simply indemnifying insureds for the losses suffered because of road incidents, to helping them prevent incidents and rapidly recover after the accidents that couldn't be avoided.

27.02.2019

See all