UKRAINE: in 3Q2021, MTPL GWP increased by 17% y-o-y and paid claims - by 25%

23 November 2021 — Marina MAGNAVAL
In the third quarter of 2021, the number of concluded MTPL contracts amounted to 2.4 million units, which is 7.6% more y-o-y. GWP reached UAH 1.9 billion (+17.3%)/~EUR 61.64 million*, according to a press release from MTIBU (Motor Transport Insurance Bureau of Ukraine).

The Bureau noted that this growth in indicators is taking place despite a decrease in the number of insurers-members of MTIBU - 42 companies in the third quarter of 2021 vs 48 companies in the third quarter of 2020.

Insurers settled almost 40.8 thousand claims of road traffic accident victims (+13%), for which they paid UAH 881 million in indemnities (+25% y-o-y).

The leader in terms of the number of contracts concluded was ORANTA (317.9 thousand units), followed by TAS. The first place in terms of GWP was taken by TAS (UAH 233 million). Three leading insurers in terms of the number of settled claims and paid claims' amount are TAS, ORANTA, UPSK.

"It is pleasant to note that despite all the difficulties associated with pandemic restrictions, MTPL insurers are reducing time of compensation payment to injured road users. This is due to the constant optimization of business processes for settling the claims of victims, adaptation to the conditions of partially remote work and remote provision of documents", commented Vladimir SHEVCHENKO, Director General of MTIBU.

*at the following exchange rate:

1 EUR = 30.8231 UAH (01.10.2021)

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