UKRAINE: in 1H2021 insurers' advertising and marketing expenses amounted to UAH 47 million

11 October 2021 — Marina MAGNAVAL
In the first half of 2021, the expenses of Ukrainian insurance companies on advertising and marketing remained at the level of previous years in the amount of UAH 47 million (~EUR 1.45 million*), of which UAH 39.8 million insurers spent on non-life insurance, and UAH 8.2 million - on life insurance, Forinsurer reports.

Marketing expenses of insurance services in the first six months of the year reached UAH 958 million, of which UAH 881 million - in non-life insurance and UAH 77 million - in life insurance.

It should be noted that GWP in the first half of 2021 increased to UAH 24.8 billion (vs UAH 21 billion a year ago), and net premiums increased by 25.6% from UAH 18.7 billion to UAH 23.5 billion. At the same time, GWP in most insurance segments increased compared to the previous quarter. Thus, Ukrainian insurers spent about 4% of the received premiums for advertising and marketing.

*at the following exchange rate:

1 EUR = 32.3463 UAH (01.07.2021)

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