STATISTICS: UKRAINE, Q1 2018 result: paid claims increased y-o-y by 35%

For the 1st quarter Ukrainian insurers generated UAH 11.6 billion of GWP (+6.63%) and paid UAH 3.17 billion of claims (+35.15%), according to the data, published by the National Commission for financial service market regulation.

The highest growth dynamics is demonstrated by life insurance (+30.63%), non-life growth is much more moderate (+5.15%). Voluntary classes had a very slight growth (+3.88%), the growth of mandatory ones amounted to 15.71%, at that mandatory insurance consists mainly of MTPL and Green Card policies.

Contribution of individuals in total GWP during Q1 amounted to UAH 4 billion (+19.2%), from that UAH 3.24 billion were generated by risk insurance classes and UAH 790 million - by life insurance. Claims, paid to individuals, in total paid claims reached 48.3% (up by 25.9% compared to the 1st quarter last year).

For January-March premiums, produced through intermediaries, jumped by 31% from the last year's figure, and the number of agreements, concluded via intermediaries-residents, increased by 55.6%. Amount of fees to intermediaries increased by 51%. Reinsurance also saw positive dynamics. Total amount of premiums, ceded in reinsurance to reinsurers-residents was 36% more on y-o-y basis.

Access www.xprimm.com and download the 1Q2018 Ukrainian insurance market statistics.

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

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