UKRAINE: 26.2% of the local insurers are owned by foreign investors

18 September 2012 — Oleg DORONCEANU, Olesea ADONEV
UKRAINE: 26.2% of the local insurers are owned by foreign investors
conf_yalta2By the end of 2011, there 26.2% of the Ukrainian insurance marlet's players - 116 companies - had foreign ownership: 88 non-life insurers and 28 life insurers, stated at the Yalta International Forum Victor BERLIN, member of the National Commission for State Regulation of Ukrainian Financial Services Markers. The biggest share of the foreign capital was held by United Kingdom - 17.9%, followed by Austria - 9.9% and Russia, with about 9.0%.

The total volume of premiums ceded in reinsurance amounted UAH 5.9% billion (EUR 561 million) in 2011, 45% less as compared to 2010, when Ukrainian direct insurers have ceded in reinsurance UAH 10.7 billion (EUR 1 billion).

Moreover, a total of UAH 1.1 billion (EUR 104 million) in premium was ceded to non-resident insurers, up by 19.3% y-o-y, while resident companies have undertaken in reinsurance UAH 4.7 billion (EUR 447 million) in premiums, about half of the 2010 amount.

The 12th International Yalta Finance Forum, which has become a tradition for leaders in insurance and reinsurance in Central and Eastern Europe, is held these days in Yalta, Ukraine. XPRIMM Publications are supporting the event as Media Partner and are represented at the Forum by Oleg DORONCEANU, International Markets Coordinator and Olesea ADONEV, International Markets Consultant.

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