UKRAINE: Steady GWP evolution and decrease in paid claims in 2011

18 September 2012 — Oleg DORONCEANU, Olesea ADONEV
conf_yalta1Gross premiums written by Ukrainian insurers in 2011 amounted UAH 22.7 billion (EUR 2.1 billion), 1.7% up as compared to 2010, while the growth in net premiums was of about 34.8%, to UAH 17.9 billion (EUR 1.7 billion). Claims paid in the same period decreased by about 20%, to UAH 4.8 billion (EUR 457 million), according to the Ukrainian League of Insurers data, presented on the occasion the Yalta International Forum by Alexander FILONIUK, President LIOU.

On the non-life market, the 2011 underwritings rose up to UAH 21.3 billion (EUR 2 billion) and are accounting for over 94% of the total GWP, while life insurance only represent 5.9% of the market, with UAH 1,3 billion (EUR 123 million) in GWP.

Motor insurance lines were once again the market drivers, with a 32% share of the portfolio, amounting UAH 5.6 billion (EUR 533 million). Also, property insurance amounted UAH 2.3 billion (EUR 219 million) or 12% of the total GWP.

The concentration degree slightly decreased in 2011 as compared to the previous years. Thus, Top 100 non-life insurers are holding 90% of the GWP, while Top 20 life insurers totalize 95% of the specialty market.

In Ukraine there 442 active insurance companies in 2011, of which 378 operating on the non-life insurance lines.

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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