UKRAINE: in 2Q MTPL GWP grew by almost 15%, and paid claims - by 46% y-o-y

1 September 2021 — Marina MAGNAVAL
In 2Q2021, the number of MTPL contracts concluded reached 2.4 million units, which is 8.5% more y-o-y. GWP on them amounted to UAH 1.9 billion/EUR 58.74 million* (+14.9% in UAH). Paid claims amounted to UAH 862 million - the number of settled claims increased by 40%, and the volume of paid claims - by 46%, according to a press release from MTIBU.

ORANTA became the leader in terms of the number of concluded contracts (305.4 thousand units). The top three also included TAS and KNIAZHA. The first place in terms of GWP belongs to TAS. The three leaders in terms of the number of settled claims and the volume of paid claims are TAS, ORANTA and UPSK.

In the second quarter of 2021, MTIBU received 280 complaints against actions of insurance companies-members of the Bureau, which is almost two times less than in the previous quarter - 570 complaints. The level of complaints (ratio of the number of complaints to the number of settled claims) is record low (0.7%) vs 1.37% in the first quarter of the year.

"In recent months, several MTPL insurers have been excluded from the Bureau's members for debts to funds, among them were those against which we received many complaints related to insurance compensation. This immediately reduced total number and level of complaints on the market, since most of the insurers settle claims without any complaints", commented the general director of MTIBU Vladimir SHEVCHENKO. At the same time, 9 companies out of 43 members of the Bureau have not had a single complaint.

*at the following exchange rate:

1 EUR = 32.3463 UAH (01.07.2021)

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