STATISTICS: UKRAINE, FY2015: GWP earned by insurers has shown a double digit growth, up by 11.1%

During the last five years, the Ukrainian insurance market saw a steady growth in local currency, except for the year 2014. In 2015 the volume of GWP earned by insurers has shown a double digit growth, up by 11.1%. However, denominated in European currency, the market GWP went down by 19%, making experts to appreciate that "in 2015 were not impressive dynamics".

At the same time, nearly 40% of total GWP are ceded in reinsurance by the Ukrainian insurance companies. Thus, in 2015, the total volume of premiums ceded in reinsurance by the Ukrainian insurance companies reached to UAH 9.9 billion compared to UAH 9.7 billion in FY2014. Of the total sum, UAH 2.5 billion of reinsurance premiums were ceded to non-resident reinsurers and UAH 7.3 billion to resident reinsurers.

According to the official data, the number of insurance companies decreased by 5% or 21 insurers left the market, thus at the beginning of the current year in the insurance industry were active 361 organizations. "On the non-banking financial market were active 361 insurance companies, of which 49 life insurance companies, as well as 312 companies engaged in the other types of insurance", mentions an official report.

Access www.xprimm.com and download the FY2015 Ukraine insurance market statistics.

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

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