The gross written premiums on the non-life insurance segment increased by 32.93% y-o-y and totaled UAH 26.1 billion (EUR 2.3 billion).
The life insurance market grew by 36.87% in local currency and totaled UAH 2.4 billion. The main factors which were influencing the development of the life insurance segment in Ukraine were: increase of consumer lending; significant increase in "endowment" insurance premiums and increase of social responsibility of middle class for their families. In the structure of insurance premiums UAH 2.3 billion (or 94.4%) are from individuals and UAH 139.3 million (or 5.6%) are from legal entities.
By the end of 2013, 407 insurance companies were operating in Ukraine. Over the past year 7 companies were liquidated.
Ukrainian insurance market showed a positive development in 2013 particularly in life insurance, medical insurance and bancassurance operations. Moreover, in 2013 took place the largest acquisitions in the life insurance segment, with Austrian Vienna Insurance Group (VIG) acquiring the life insurance subsidiary of UNIVERSALNA Insurance Company in a USD 25 - 30 million deal.
Access www.xprimm.com and download the FY2013 Ukraine insurance market statistics (in EUR and UAH):
- Market indicators (GWP/Claims/Growth rates)
- Life and Non-Life market rankings (GWP/ Growth rates/Market shares)
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