UKRAINE: MTIBU: in the first quarter, the number of settled MTPL claims increased by 10% y-o-y, and the volume of paid clams - by 21%

3 June 2021 — Marina MAGNAVAL
MTPL insurers of Ukraine in the first quarter of 2021 settled over 40 thousand insurance claims. The number of MTPL contracts concluded during this period reached 1.9 million units, which is 7.7% more y-o-y, according to the MTIBU's press release (Motor (Transport) Insurance Bureau of Ukraine).

MTPL GWP for the period amounted to UAH 1.5 billion (EUR 45.9 million*), which is 13% more y-o-y. For the settled 40.1 thousand claims of victims of road accidents, the insurers paid UAH 822 million of insurance compensation. The number of settled claims increased by 10% compared to 1Q2020, and total amount of paid claims - by 21%. The average premium size increased by 5%, while the average paid claim amount increased by 10.3%. Thus, the volume of paid claims is growing at a faster pace than premiums.

TAS insurance group became the leader in terms of the number of concluded contracts (226.7 thousand units). TOP-3 leaders also include ORANTA and UPSK. The same companies are leading both in terms of generated MTPL GWP and number/amount of paid claims.

*at the following exchange rate:

1 EUR = 32.629 UAH (01.04.2021)

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