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)