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UKRAINE: NBU is looking for a new director of the Department for Supervision of the Non-Banking Financial Services Market
In August 2022, Olga MAKSIMCHUK voluntarily completed her work at the National Bank of Ukraine (NBU) as Director of the Department for Supervision of the Non-Banking Financial Services Market,
18 August 2022UKRAINE: changes in the NBU exchange rates led to an increase in the cost of Green Card policies by 26.3%
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) has increased the cost of Green Card policies for those traveling abroad by 26.3% effective July 26, 2022. At the same time, the cost of these policies last changed on July 18, 2022, downward by 4.4%, Forinsurer wrote.
29 July 2022UKRAINE: in January-May, MTPL market decreased by more than 18% y-o-y
From January to May 2022, MTPL market in Ukraine decreased by 18.24% to UAH 2.218 billion (~EUR 70.10 million). In the first 5 months of the year, MTIBU member insurance companies concluded 32.25% fewer MTPL contracts than in the same period a year earlier, Forinsurer wrote.
29 July 2022UKRAINE: Sergiy Savchuk heads the Department of Methodology for Regulating the Activities of Financial Institutions at NBU
Effective July 26, 2022, Sergiy SAVCHUK has been appointed to the position of Director of the Department of Methodology for Regulating the Activities of non-banking Financial Institutions at the National Bank of Ukraine (NBU), Forinsurer reports.
29 July 2022STATISTICS: UKRAINE, FY2021: the highest loss ratios observed in MTPL, health insurance and Motor Hull
Ukraine's insurance market grew by 8.2% to UAH 48.9 billion (EUR 1.58 billion) in 2021, with life insurance accounting for UAH 5.9 billion and non-life insurance - UAH 43 billion, as data, published by the National Bank of Ukraine, show.
16 June 2022UKRAINE: insurance market's results for 2021 published by the National Bank
The National Bank of Ukraine (NBU) published a report on the non-banking sector for 2021, comprising 4Q2021 data on the insurance sector. The report is based exclusively on those insurers that submitted reports to the NBU as of May 16, 2022 (90% of non-life insurers and all life insurers).
9 June 2022UKRAINE: MTIBU supports servicemen who become participants of car accidents
The MTIBU decided not to collect recourses in a judicial or pre-trial order from the military personnel of the Armed Forces of Ukraine in the event that they cause car accidents without a valid MTPL policy, compensation to the victims will be paid out from the MTIBU Victim Protection Fund, according to a press release from the Bureau.
31 May 2022UKRAINE: the insurers need sweeping measures to survive and recover
The Insurance Business Association, together with the League of Insurance Organizations of Ukraine, have developed ideas for the so called "Marshall Plan", a set of measures to help firms get back on their feet, and urged the National Bank of Ukraine (NBU) to support them, according to the article prepared by MTIBU and the Association for insuranceerm.com.
31 May 2022UKRAINE: the war makes the risks for Ukraine's sector continue to spiral
The war has created unprecedented operational and financial risks, and the risks for Ukraine's sector continue to spiral. Companies are not only worried about employee safety and business continuation, but the growing solvency, inflation and liquidity risks, according to the Leaders from Ukraine's Insurance Business Association and European Insurance Alliance.
31 May 2022UKRAINE: The number of insurers in Ukraine as of April 2022 amounted to 145 companies
As of April 30, 2022, 132 non-life insurers (compared to the previous month, the number has not changed), 13 life insurers (the number has not changed) and 64 insurance brokers (the number has not changed) were operating in the non-banking market of Ukraine, Forinsurer writes.
10 May 2022UKRAINE: in 2021, the Green Card market grew by almost 33%
According to the MTIBU, the Green Card insurance segment in 2021 grew both in terms of the number of contracts concluded and in terms of GWP, Forinsurer reports referring to the Bureau.
5 May 2022SCOR's Q1 2022 results will be impacted by the conflict in Ukraine
French reinsurer SCOR announced, its Q1 2022 results will be impacted by the conflict in Ukraine. "Since the beginning of the war in Ukraine on 24th February 2022, SCOR has been closely monitoring the unfolding of events, and the resulting potential impact of the conflict and related international sanctions on its activity".
27 April 2022UKRAINE: in 2021, MTPL insurers settled a record number of claims from victims of road accidents
According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in 2021, the number of concluded MTPL contracts amounted to 9 million units, which means a y-o-y increase of 12.7%, and GWP volume reached UAH 7.2 billion (+17.2%)/~EUR 0.23 billion*, the Bureau reports.
22 March 2022Hungarian insurers take over most of the Ukrainian border insurance fee
Due to the Ukraine-Russia conflict, MABISZ - the Association of Hungarian Insurers informed it has taken initiative towards Ukrainian refugees arriving in the country by car.
21 March 2022UNIQA Ukraine continues to work and indemnify its customers
Ukrainian subsidiaries of the UNIQA Group, insurance companies "UNIQA" and "UNIQA Life", continued to work despite the war situation in the country and paid their clients indemnities worth UAH 27.1 million between 24 February and 10 March, a company announcement said.
15 March 2022UKRAINE: NBU extends deadlines for submitting annual reports until March 31
In connection with the martial law throughout Ukraine, the National Bank (NBU) has extended the deadline for submitting annual reports by non-banking financial institutions for 2021 until March 31, 2022, Forinsurer said.
7 March 2022UKRAINE: paid claims of the life insurance leader MetLife grew by 47% in 2021
In 2021, MetLife, the leader of the life insurance market in Ukraine, paid out UAH 311 million (EUR 10 million*) to its customers, which is almost one and a half times more y-o-y. It is noted that over the 19 years of its work, the insurer has paid out a total of UAH 1.17 billion to customers, Forinsurer wrote.
21 February 2022UKRAINE: business of TAS Group in 2021 expanded by 21% y-o-y
In 2021, the TAS insurance group (one of the five market leaders in Ukraine) collected GWP 20.9% more y-o-y in local currency (UAH 2.45 billion/EUR 79.23 million*), Forinsurer reports.
17 February 2022UKRAINE: MTIBU: in 2021, payments from the Fund for Protection of Victims increased by 29% y-o-y
In 2021, MTIBU (Motor Transport Insurance Bureau of Ukraine) made 7.1 thousand payments from the Bureau's Victim Protection Fund for a total of UAH 278.5 million (EUR 9 million*). Compared to 2020, the number of payments increased by 10.3% and the amount - by 29%, according to the Bureau's website.
2 February 2022UKRAINE: for 11M2021 MTPL market increased 17% and Green Card - 34% y-o-y
For the period from January to November 2021, the number of MTPL contracts concluded in Ukraine amounted to 8.24 million units, which is 8.38% more y-o-y.
25 January 2022
