Ukrainian insurance market grew by 37.5% to UAH 52.66 billion (EUR 1.08 billion) in the first nine months of 2025, including UAH 48.38 billion in non-life insurance and UAH 4.28 billion in life insurance, according to the National Bank of Ukraine (NBU) quarterly report.

During the first three quarters of this year, the market underwent a systemic renewal and demonstrated its most dynamic growth in the past decade, which is paradoxical given the ongoing war, structural economic distortions, and constant external pressure on infrastructure and company business models.

Motor insurance was the main driver of market growth due to a doubling of the cost and rates in MTPL. The key insurance classes with double-digit shares in the market premium portfolio are domestic MTPL, Motor Hull, and medical insurance.

The most important indicator determining the quality of risk coverage is the payment rate, which decreased to 35.6% from 39.3% a year earlier. Over the first nine months of 2025, the payment rate in MTPL decreased significantly compared to the previous year, from 47% to 27%. This was a result of rapid premium growth following the transition to updated pricing rules.

From July to September, total assets of the insurance sector increased by 8% to UAH 87.7 billion quarter-on-quarter (25% year-on-year).

TAS Group leads the market in terms of GWP (UAH 5.71 billion), followed by ARX and INGO. It is worth noting that among all companies, only the TAS Group has a double-digit market share.

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