UKRAINE: the largest portion in reinsurance was taken by property class in 2019

21 April 2020 — Marina MAGNAVAL
According to the structure of risk reinsurance in Ukraine by non-residents at the end of 2019, the most premiums were paid to Germany (22.3%) and Austria (19.4%), as the data of the National Commission for Financial Service Markets Regulation of Ukraine show.

The share of Great Britain amounted to 17.3%, Poland - 10.0%, Switzerland - 7.0%. The structure has changed in favor of Austria (8.5% in 2018), Germany (2018: 18.6%) and France (from 5.0% to 6.0%), at the same time reducing shares of Great Britain (2018: 23.7%), Switzerland (2018: 10.6%) and Poland (from 12.4% in 2018).

Under 2019 reinsurance contracts, Ukrainian insurers (cedants, reinsurers) paid shares of insurance premiums of UAH 16,713.4 million (~EUR 0.63 billion) , of which UAH 3,298.2 million were paid to non-resident reinsurers (+10% y-o-y), and UAH 13,415.2 million to resident reinsurers (-10.2% y-o-y). The total share of reinsurance in the market GWP as of December 31, 2019 reached 31.5% (vs 36.3% for 2018).

In the structure of reinsurance premiums, the largest amounts were paid for property insurance (22%), fire and natural disasters (17.2%), financial risks (14.3%), cargo (9.2%) and Motor Hull (8.4%).

Payments compensated by resident reinsurers amounted to UAH 297.8 million, which is 30.9% less than in 2018, for nonresident reinsurers it was UAH 2.21 billion, or 9% more than in 2018.

* EUR 1 = UAH 26.422 (as of 31.12.2019)



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