UKRAINE: total number of concluded MTPL contracts in 2019 was a record during activity of MTIBU

5 March 2020 — Marina MAGNAVAL
GWP of insurers-members of the Motor (transport) Insurance Bureau of Ukraine (MTIBU) in 2019 increased by 13.46% y-o-y, to UAH 5.1 billion (EUR 0.19 billion), according to the MTIBU Director General Volodymyr SHEVCHENKO.

At the same time the Bureau noted that total number of MTPL contracts in 2019 was a record one for the whole period of MTIBU activity (8 million units).

MTPL paid claims grew by 19.5% (to about UAH 2.5 billion/EUR 0.09 billion), and the number of claims increased by 16.2%. The main portion (93.9%) in the structure of paid claims fell on property damages. At the same time, 75% of losses are less than UAH 20 thousand (~EUR 0.75 thousand). The average market paid claims ratio in 2019 was 49.6%.

Total number of customer complaints about insurers in 2019 dropped by 11% y-o-y, and the biggest part (70%) of them were related to delayed payments, Forinsurer reports.

*EUR 1 = UAH 26.422 (01.01.2020)

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