Ukraine
UKRAINE: new edition of the Law "On insurance" adopted
The Verkhovna Rada of Ukraine on November 18, 2021 adopted a new version of the Law of Ukraine "On Insurance", which changes a wide range of requirements for licensing insurers, assessing their solvency and liquidity, corporate governance and risk management, termination of companies and transfer of insurance portfolio, etc., Forinsurer said.
24 November 2021UKRAINE: in 3Q2021, MTPL GWP increased by 17% y-o-y and paid claims - by 25%
In the third quarter of 2021, the number of concluded MTPL contracts amounted to 2.4 million units, which is 7.6% more y-o-y. GWP reached UAH 1.9 billion (+17.3%)/~EUR 61.64 million*, according to a press release from MTIBU (Motor Transport Insurance Bureau of Ukraine).
23 November 2021UKRAINE: for 9 months of 2021, total GWP of ARX and ARX Life reached almost UAH 2.7 billion
Insurance companies ARX and ARX Life summed up their results for 9 months of 2021 - GWP of ARX (one of the non-life leaders) amounted to UAH 2.5 billion (~EUR 81.10 million*), which is 30% more y-o-y. At the same time, the company's paid claims for the period exceeded UAH 942 million (+29%), according to Forinsurer.
15 November 2021UKRAINE: for three quarters of 2021 GWP of INGO increased by 22% y-o-y
According to the results of January-September 2021, the volume of INGO's premiums earned increased by 22% to UAH 1.4 billion (~EUR 45.42 million*), Forinsurer reports.
8 November 2021UKRAINE: from January to September, MTIBU payments to victims exceeded UAH 202 million
For 9 months of 2021, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) paid the victims of traffic accidents UAH 202.3 million (~EUR 6.56 million*) from the Victim Protection Fund, and the total number of payments reached 5.4 thousand. The number of payments increased by 18.5% y-o-y, while the amount - by 32%, the press release of the Bureau said.
14 October 2021UKRAINE: in 1H2021 insurers' advertising and marketing expenses amounted to UAH 47 million
In the first half of 2021, the expenses of Ukrainian insurance companies on advertising and marketing remained at the level of previous years in the amount of UAH 47 million (~EUR 1.45 million*), of which UAH 39.8 million insurers spent on non-life insurance, and UAH 8.2 million - on life insurance, Forinsurer reports.
11 October 2021UKRAINE: XXI International Financial Forum: Ukrainian insurance market returned to normal business activity and adapted to work under quarantine conditions
In September, Odessa hosted the XXI International Financial Forum to discuss the problems and prospects of business in the field of insurance and financial services, strategies for the development of the financial sector of Ukraine until 2025, changes in the legislative framework for financial and insurance business under the regulatory control of the NBU, new organizational and technological solutions and more, Forinsurer reports.
29 September 2021UKRAINE: XXI International Financial Forum: Ukrainian insurance market returned to normal business activity and adapted to work under quarantine conditions
In September, Odessa hosted the XXI International Financial Forum to discuss the problems and prospects of business in the field of insurance and financial services, strategies for the development of the financial sector of Ukraine until 2025, changes in the legislative framework for financial and insurance business under the regulatory control of the NBU, new organizational and technological solutions and more, Forinsurer reports.
29 September 2021UKRAINE: the quality of settlement in MTIBU has improved
The quality of settlement in MTIBU has improved according to the results of a survey among victims of road accidents, who received compensation from the guarantee funds of the Bureau. MTIBU conducts this survey annually.
23 September 2021UKRAINE: the draft law provides for creation of the Bureau of Environmental Insurance
The Cabinet of Ministers supported submission to the Verkhovna Rada of the draft law "On Environmental Insurance", which provides for creation of the Bureau of Environmental Insurance, Forinsurer said.
15 September 2021UKRAINE: at the beginning of September the number of insurance companies was 170
At the beginning of September 2021, 153 non-life insurers (previously 160) and 17 life insurers were working in the Ukrainian insurance market, Forinsurer reported.
15 September 2021STATISTICS: UKRAINE, 1H2021: insurers' business grew by almost 18% y-o-y
The insurance market in Ukraine in 1H2021 grew by 17.9% to UAH 24.8 billion (EUR 767.13 million). At the same time, net premiums increased by 25.6% to UAH 23.5 billion, according to the data published by the National Bank of Ukraine (NBU).
7 September 2021UKRAINE: in 2Q MTPL GWP grew by almost 15%, and paid claims - by 46% y-o-y
In 2Q2021, the number of MTPL contracts concluded reached 2.4 million units, which is 8.5% more y-o-y. GWP on them amounted to UAH 1.9 billion/EUR 58.74 million* (+14.9% in UAH). Paid claims amounted to UAH 862 million - the number of settled claims increased by 40%, and the volume of paid claims - by 46%, according to a press release from MTIBU.
1 September 2021UKRAINE: in 1H GWP of ARX and ARX Life increased 26% y-o-y
According to the results of the first half of 2021, the non-life insurance company ARX is the leader in the Ukrainian market, with GWP over UAH 1.6 billion/~EUR 49.5 million* (26% more y-o-y in UAH).
16 August 2021UKRAINE: in 1H MTPL grew by 14% y-o-y, while Green Card increased by 38%
In January-June 2021, the Ukrainian MTPL market grew by 14% to UAH 3.3 billion/~EUR 0.1 billion*, Forinsurer reports with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine). GWP under electronic MTPL contracts increased by 56% to UAH 1.7 billion.
16 August 2021UKRAINE: Agroinsurance with state support may start working in November-December 2021
Financing of the program of state support for agroinsurance, which means providing funds from the state budget to agricultural producers in the form of reimbursement of up to 60% of the cost of insurance policies, has been allocated at the level of UAH 240 million (~EUR 7.58 million), Forinshurer said.
13 August 2021UKRAINE: at the beginning of August, total number of insurers decreased by 4 to 177
As of July 31, 2021, 160 non-life insurers (vs 162 as of June 30) and 17 life insurers (vs 19) operate in the Ukrainian market, i.e. in a month, the number of insurance companies decreased by 4, Forinsurer reports.
13 August 2021UKRAINE: in 1H2021 GWP of TAS group increased by almost 26% y-o-y
For the first half of 2021, GWP of the TAS Group (included in the TOP-3 leaders in life and non-life insurance in Ukraine) amounted to UAH 1,152.65 million (EUR 35.63 million*), which is 25.7% more y-o-y, Forinshurer said.
3 August 2021UKRAINE: in 1H2021 MTIBU paid to victims of road accidents over UAH 141 million, which is 36% more y-o-y
Payments of MTIBU (Motor (Transport) Insurance Bureau of Ukraine) for January-June 2021 from the Victim Protection Fund of the Bureau amounted to UAH 141.7 million (~EUR 32.34 million*). Compared to the same period in 2020, the number of payments increased by 18.6%, while the amount increased by 36%, the Bureau reports.
27 July 2021UKRAINE: MTIBU approached NBU with a proposal to increase insurance amounts for MTPL
MTIBU (Motor (Transport) Insurance Bureau of Ukraine) appealed to the National Bank of Ukraine with a proposal to increase MTPL insured amounts (maximum payment): up to UAH 160 thousand for property damage of victims, and UAH 320 thousand for harm to life and health, as well as to increase the limit of payments under the European Accident Statement to UAH 80 thousand, MTIBU reported.
19 July 2021
