STATISTICS: Ukraine, 1H2017: After buying the AEGON unit, TAS Insurance almost doubled its market share

In 1H2017, GWP collected by local insurers' went up by 30%, to UAH 21,222.80 million, of which UAH 19,977.70 million for the non-life insurance segment (up by 33.08%); life insurance saw a GWP decrease of 5.29%.

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.

Related articles

Ukraine: Swiss investor VIATRANS bought 22% of local insurer PERSHA

Swiss investor VIATRANS became one of the shareholders of PERSHA Ukraine, a non-life insurer, with 22% of the shares (132,000 shares). Moreover, the Ukrainian Commission for State Regulation of the Financial Markets has approved the acquisition. VIATRANS has showed its interest for the domestic insurer since March, 2016.

2016-11-10

UKRAINE: AEGON sells its unit and exits the market

Dutch insurer AEGON announced that it will exit the Ukrainian market after less than four years, by selling 100% of AEGON Life Ukraine to local insurance firm TAS Group. The parties have agreed not to disclose the terms and conditions of the transaction.

2016-09-29

UKRAINE: The financial regulator approved the acquisition HDI Strakhuvannya by EIG

The Ukrainian Commission for State Regulation of the Financial Markets has approved the acquisition of HDI Strakhuvannya by Bulgaria's EUROINS Insurance Group (EIG), a subsidiary of financial holding EUROHOLD. The deal in Ukraine comes after EIG has already acquired HDI Zastrahovane - the Bulgarian business of the Hannover based insurer TALANX International.

2016-08-04

ON THE MOVE

WTW appoints Neil IRWIN to lead CEEMEA Region

WILLIS TOWERS WATSON (WTW) has appointed Neil IRWIN as the new leader of the Central and Eastern Europe, Middle East, and Africa (CEEMEA) region. He takes up his new position with immediate effect, and will be based in Dubai.

TOP EVENT

The 9th International Istanbul Insurance Conference started today in Istanbul

In emerging markets like Turkey, there can be a significant difference between the insured and total insurable losses. Parametric insurance is a smart way to close this protection gap. While the traditional products cover an insured loss, parametric products provide financial protection for various expenses from financial liabilities to contingent loss of profit which, in return, decreases the economic loss burden following a CAT event.

04.10.2017

61st "Rendez-Vous de Septembre" ends today in Monte Carlo: review

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers ends today in Monte Carlo. The Nat Cat insurance protection gap, as well as the global insurance market readiness to deal with the increasing complexity of the cyber risks were among the most debated topics.

14.09.2017

See all