STATISTICS: Ukraine, 1H2017: After buying the AEGON unit, TAS Insurance almost doubled its market share
The market share of the Top 10 life insurers in terms of GWP increased from 63.64% (1H2016) to 88.19%. The main reason is that local insurer TAS Insurance almost doubled its market share due to the acquisition of AEGON Life Ukraine. Dutch insurer AEGON exited the Ukrainian market after less than four years, by selling 100% of AEGON Life Ukraine to TAS Group.
Another M&A transaction announced in the Ukrainian insurance market is related to the 100% acquisition of INGO Ukraine insurance company by the owner and president of DCH group of companies, Oleksandr YAROSLAVSKY.
In the reporting period, non-life insurance segment increased by 33.08% to UAH 19,977.70 million. According to the forinsurer, by the types of insurance, the growth in net premiums has been noted on the aviation insurance (+42.2%), health insurance in case of illness (+37.8%), insurance of medical expenses (+25.6%), accidents (+24.2%) and motor insurance (+11.7%).
At the end of June, 2017 on the local insurance market were active 300 companies (36 life insurance companies and 264 non-life insurers), down by 43 entities.
Find detailed 1H2017 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2017, to be launched on 22 October.
Access www.xprimm.com and download the 1H2017 Ukraine insurance market statistics.