UKRAINE: EUROINS Ukraine for January-March generated GWP 88% more y-o-y

29 April 2021 —
The Kyiv-based EUROINS Ukraine insurance company for the first three months of 2021 generated UAH 165 million (EUR 5.05 million*) of GWP, which is 88% more y-o-y, as Open4Business informs.

The insurer noted in its press release that motor insurance and voluntary health insurance remain its core areas of business as the most popular and demanded in Ukraine.

In MTPL EUROINS Ukraine collected for the period UAH 47.4 million (+45%), in Motor Hull - UAH 23.2 million (+47%) and in voluntary health insurance - UAH 34 million, which is 2.5 times more compared to the same period of 2020. Besides that, the company's GWP in other LoBs also had high dynamics, such as property insurance (increase by 4.6 times), insurance against fire risks (2.5 times), accidents (2 times more), GTPL (+52%).

Paid claims of the company for the period exceeded UAH 37 million, which means annual growth by 42%. "In 2021, EUROINS continues growing dynamically, strengthening its market positions. Our mid-term goal is to enter the TOP-10 leading insurance companies in Ukraine, and we are confidently moving towards this. To implement such ambitious plans, we are actively building up our team in all regions of Ukraine. We are developing digital insurance channels and partnership projects", Yanko NIKOLOV, Board Chairman of the company said.

EUROINS Ukraine has been operating in the Ukrainian market since 1992 and is a part of Euroins Insurance Group AD (Bulgaria). EUROINS Ukraine provides insurance services both in voluntary and compulsory insurance, it specializes in motor, health, property, and cargo insurance for private and corporate clients. The company has 19 offices throughout the country and is a member of MTIBU.

*at the following exchange rate:

1 EUR = 32.629 UAH (01.04.2021)