Ukraine
UKRAINE: 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 2022UKRAINE: in January-September 2021, MetLife collected the maximum GWP for the life insurance market
According to the results of three quarters of 2021, MetLife maintains its leadership in the life insurance market in all key indicators, which is confirmed by the Insurance TOP industry rankings.
11 January 2022UKRAINE: in 10 months of 2021 the number of MTPL policies increased by 26% y-o-y
The number of concluded Green Card contracts in Ukraine in January-October 2021 increased by 26% reaching 644.6 thousand units, Forinsurer wrote.
11 January 2022UKRAINE: for Jan-Nov 2021, GWP of the TAS Group increased by more than 20% y-o-y
From January to November 2021, TAS Group, which is in top-3 of life and non-life insurance in Ukraine, collected UAH 2.21 billion (~EUR 71.47 million*) in premiums, 20.5% more y-o-y, Forinsurer reported.
27 December 2021UKRAINE: ARX wins silver at the Effie Awards, the most prestigious marketing communications award
Insurance company ARX (one of the leaders in life and non-life insurance in Ukraine) has become a silver winner of the Effie Awards, the most prestigious award in the field of marketing communications. ARX is the only insurance company to be among the winners, Forinsurer reports.
21 December 2021STATISTICS: UKRAINE, 3Q2021: the market expands by more than 15% y-o-y (in UAH)
The insurance market in Ukraine at the end of the third quarter of 2021 recorded an increase of 15.48% y-o-y to UAH 38.07 billion (EUR 1.22 billion). At the same time, paid claims of insurers increased by almost 21% and reached UAH 13.42 billion, as the data published by the National Bank of Ukraine show.
14 December 2021UKRAINE: for 9 months of 2021, net profit of the UNIQA group exceeded UAH 246 million
According to the results of 9M2021, the non-banking financial group UNIQA Ukraine, which includes the insurance companies UNIQA and UNIQA Life, ranking among the top-5 market leaders, continued to grow - the group's net profit before tax amounted to UAH 246.2 million/EUR 7.98 million* (UNIQA - UAH 200.5 million, UNIQA Life - UAH 45.7 million), Forinsurer wrote.
8 December 2021UKRAINE: MTIBU: The new law "On MTPL" will change the principles of compensation payment to owners of used vehicles
General Director of MTIBU (Motor Transport Bureau of Ukraine) Volodymyr SHEVCHENKO speaking about a new edition of the law of Ukraine "On compulsory insurance of civil liability of owners of land vehicles", noted that the new law will change the principles of compensation for owners of used cars.
6 December 2021
