NBU’s review said that the insurance sector posted profit, GWP rose slightly compared to 1Q2023, mainly in risk insurance.
The volume of assets of life insurers in the second quarter increased for the second time in a row - by 4%. At the same time, the assets of risk insurers decreased slightly due to the exit of seven participants from the market.
Life GWP remained almost unchanged during the quarter, while non-life GWP increased by 12%, up to the level of the 4Q2021. Motor insurance increased by 21% and exceeded the pre-war level. The share of motor insurance during the hostilities exceeded half of the non-life premium portfolio.
The insurance market is profitable: the return on capital of risk insurers is commensurate with previous years (6%), while life insurers received a record quarterly profit, the NBU notes in its non-bank financial sector review.