The League of Insurance Organizations of Ukraine (LIOU) and the National Association of Insurers of Ukraine (NAIU) signed a Memorandum of Cooperation and Partnership to consolidate efforts to develop a solvent, sustainable, competitive insurance market in Ukraine and protect the rights of consumers of insurance services, according to Forinsurer.

LIOU and NAIU, remaining independent and autonomous associations, in accordance with the terms of the Memorandum, agreed to create the Federation of Insurance Associations of Ukraine (FIAU), the task of which is to form a unified position of professional associations of insurers for the development of the market in synergy with the regulator.

The working body of the FIAU is the Coordination Council, which will include 2 representatives-members of LIOU and NAIU, as well as the heads of the two specified associations, the source added.