Ukraine
UKRAINE: in July-September 2022, MTIBU paid more than UAH 68 million to road accident victims
As the results of the third quarter of 2022 show, the MTIBU (Motor Transport Insurance Bureau of Ukraine) made 1.4 thousand payments from the Victim Protection Fund of the Bureau in the total amount of UAH 68.3 million (~EUR 1.89 million), as the Bureau said in its press release.
15 November 2022UKRAINE: for 9 months TAS paid out over UAH 675 million
The TAS insurance group, which is one of the five leaders in the insurance sector of Ukraine, paid UAH 675.64 million (~EUR 18.74 million) under insurance contracts in January-September this year, Forinsurer wrote.
31 October 2022UKRAINE: Kirill Shevchenko dismissed from the post of Chairman of the National Bank of Ukraine
On October 6, 2022, the Verkhovna Rada of Ukraine approved a resolution on the dismissal of Kirill Shevchenko from the post of Chairman of the National Bank of Ukraine, a position that he was appointed to on July 16, 2020, Forinsurer reports.
13 October 2022UKRAINE: in January-August 2022, the largest part of TAS Group's claims was paid in motor insurance
In January-August 2022, the TAS group, whose companies are in the top 20 insurers of Ukraine, paid out UAH 589.22 million (~EUR 15.92 million). The largest part of compensation payments was made in motor insurance (Motor Hull, MTPL, Green Card), Forinsurer reports.
28 September 2022STATISTICS: UKRAINE, 1H2022: the market contracted by almost 31% y-o-y in UAH
The Ukrainian insurance market amounted to UAH 17.60 billion (EUR 571.84 million), at the end of 1H2022, which is almost 31% less y-o-y in local currency. The decline was recorded in both life and non-life insurance. At the same time, the decline was in all classes, except for MTPL and Green Card segment, as data from the National Bank of Ukraine show.
22 September 2022UKRAINE: MTPL market decreased by 13% in the first half of the year
MTPL market in Ukraine in January-June 2022 decreased by 13.4% to UAH 2.9 billion (~EUR 93.91 million). At the same time, insurance companies-members of the MTIBU (Motor Transport Insurance Bureau of Ukraine) concluded 28.1% fewer MTPL agreements than a year earlier for the same period, Forinsurer wrote.
21 September 2022UKRAINE: Viktor BERLIN elected the new President of the League of Insurance Organizations of Ukraine
At the XIII Congress of the League of Insurance Organizations of Ukraine, a new President of the LIOU Viktor BERLIN, who previously held the position of General Director of the GUARDIAN insurance company and was a Member of the National Financial Services Commission in 2012-2014, was elected, Forinsurer reports.
21 September 2022UKRAINE: at the end of June, the number of insurers decreased to 137 from 181 a year earlier
The volume of net premiums of Ukrainian insurers in January-June 2022 decreased from UAH 23.5 billion to UAH 17.7 billion/~EUR 0.57 billion (-24.6% y-o-y). UAH 2.22 billion were ceded to reinsurance, Forinsurer wrote, citing data from the National Bank of Ukraine.
13 September 2022UKRAINE: The Green Card market for 7 months of 2022 grew by 115% to UAH 2 billion
GWP under Green Card policies in Ukraine in January-July 2022 increased by 2.15 times compared to the same period in 2021 to UAH 2 billion (~EUR 52.85 million), Forinsurer wrote.
7 September 2022STATISTICS: UKRAINE, 1Q2022: the market contracted by 19% y-o-y (in local currency)
The insurance sector of Ukraine ended the first quarter of 2022 with a decrease of 19% y-o-y, total GWP amounted to UAH 9.52 billion (EUR 292.15 million). The decline was recorded by both non-life insurance (more than 21%) and life insurance (by almost 3%), as shown by data published by the National Bank of Ukraine.
7 September 2022UKRAINE: VUSO acquires ASKA to create a major player in the insurance market
Shareholders of the VUSO insurance company (one of the top-10 in Ukraine) completed acquisition of UASK ASKA (operating under ASKA brand) in order to create a major player in the insurance market with Ukrainian capital, Forinsurer reports.
31 August 2022UKRAINE: electronic Green Card policy to be launched in Ukraine from September 1
Insurers - full members of the MTIBU, who have the right to conclude international Green Card insurance contracts, will offer car owners an opportunity to conclude such contracts in electronic form from September 1, according to a press release from the MTIBU.
24 August 2022UKRAINE: in the first half of 2022, the number of Green Card policies more than doubled
In the first half of 2022, the number of Green Card policies concluded in Ukraine more than doubled (+119%), exceeding the corresponding period in 2021, amounting to 720,000 units. This figure has almost reached the level of the first half of the "pre-COVID" 2019, according to a press release from the MTIBU (Motor Transport Insurance Bureau of Ukraine).
24 August 2022UKRAINE: 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 2022
