Insurance in the agro-industrial complex becomes more available for agricultural producers. For now already 7 companies received an official licence for such kind of activity. Apart from support of insurers the agrarians can rely on the state assistance as well. Last year it gave compensations up to 50% of the amount of isnurance payment in the course of insurance of winter wheat crops. And already this year it is planned to enlarge state subsidies for corn, soya and sugar beet.

The League of Insurance Organizations of Ukraine (LIOU) has said it wants to develop cooperation with Association of Taxpayers of Ukraine.

Ukraine's National Commission for Regulation of Financial Services (Natskomfinuslug) is considering a plan to form a mega-regulator for the insurance sector. The plans include bringing together around 400 existing firms in the market, reported Ukrainian news agency Liga Biznesinform citing Natskomfinuslug's leader Andrew Stasevskogo. The impact on other organizations in the country's insurance market is unknown until specific details on the plans are finalized.

Following the good 2012 results of its Ukrainian subsidiary, the Polish PZU Group decided to additionally invest in Ukraine in projects meant to consolidate the insurance market or to participate in global projects related to medical and agricultural insurance and pension reform, as the Group's President, Andrzej KLESYK, stated at a meeting with the Ukrainian Prime Minister, Mykola AZAROV.

The management of the official state enterprise "Chernobyl Nuclear Power Plant" in Ukraine has announced an auction for the compulsory insurance contract of civil liability for nuclear damage, according to the Journal of public procurement in Ukraine, Forinsurer portal reports.

Poland's PZU Group is ready to additionally invest in Ukraine, its President Andrzej Klesyk said at a meeting with Ukrainian Prime Minister Mykola Azarov.

The global financial crisis has been felt in the economies of many countries, including Ukraine. Up until 2008 two of the country's economic engines were the metallurgical and the chemical industry. Due to lower prices for metal products in the world, an agricultural production issue came to the fore. Moreover, given the disastrous events of previous years, more and more countries have concluded that we need a well regulated legal basis in terms of agricultural insurance.

XDI Investment Ltd. decided to join the insurance market of Ukraine under the brand name "XDI Ukraine."

Last week, the National Commission of Financial Markets in Ukraine put into public debate a draft law for the Life Insurance Guarantee Fund's organization and functioning rules. The structure was established in order to protect policyholders rights in the event of life insurance insolvency.

Ukrainian insurance companies begin to fund projects aimed at saving human lives, director of the General Motor (Transport) Insurance Bureau of Ukraine Borys Vizirov said during meeting of the discussion club, ForUm correspondent reports.

The percentage of paid insurance compensations for losses due to car accidents is growing, director general of the Motor transport insurance bureau of Ukraine Borys VISIROV told a press conference, ForUm correspondent reports.

The Kyiv-based PZU Ukraine insurance company has submitted an application to the National Commission for Financial Service Markets Regulations to obtain a license to provide voluntary insurance of agricultural products, PZU agrarian risk insurance manager Oleksandr MUKHA has told Interfax-Ukraine.

The Antimonopoly Committee (AMC) on November 7 endorsed the creation of the Agricultural Insurance Pool, the National Commission for Regulation of Financial Services Markets said in the press-release.

Agricultural insurance plays an important role in promoting and attracting investments in agriculture industry and moreover in stabilizing revenue of farmers. But agricultural insurance by itself is a complex type of insurance. This type of insurance is very different from any other types of risk in non-life insurance because it is covering developing biological products.

VIENNA INSURANCE Group is keen on Ukraine's market potential as it pursues growth in Central and Eastern Europe with small takeovers, Chief Executive Peter HAGEN said.

LEMMA Insurance Company of the Ukraine has had its issuer credit rating downgraded to 'bb' from 'bb+' and its financial strength rating of B (Fair) affirmed. The outlook for both ratings has been revised from stable to negative.

Introduction of the agricultural insurance is a big step for the agricultural sector of Ukraine, head of the advisory program of the International Finance Corporation (IFC) "Development of agricultural insurance and financing in Ukraine" Harry Roche told a press conference, ForUm correspondent reports.

Gross written premiums volume reported by the Ukrainian insurers in 1H2012 amounted to UAH 9.58 billion, 13.2% less y-o-y. Life insurance takes only 7.6% share of the market portfolio, with a GWP volume of UAH 684 million (EUR 68.6 million). Yet, its growth rate during the last 12 months reached a pace of almost 52% (local currency). "Despite the positive macroeconomic developments, the state of the insurance market of Ukraine still does not meet the level of the EU. In particular, the ratio of net insurance premiums (excluding insurance premiums transferred to reinsurance) to GDP, in 1H2012, was recorded at 1.3% (for example, in 2008 - 1.7%). This is much less compared to developed countries, where it hits 8-12%", said Alexandr ZALETOV, Deputy Chairman of the Council of the League of Insurance Organizations of Ukraine and Editor in Chief, Insurance TOP Magazine.

By the end of 2011, there 26.2% of the Ukrainian insurance marlet's players - 116 companies - had foreign ownership: 88 non-life insurers and 28 life insurers, stated at the Yalta International Forum Victor BERLIN, member of the National Commission for State Regulation of Ukrainian Financial Services Markers. The biggest share of the foreign capital was held by United Kingdom - 17.9%, followed by Austria - 9.9% and Russia, with about 9.0%.

Gross premiums written by Ukrainian insurers in 2011 amounted UAH 22.7 billion (EUR 2.1 billion), 1.7% up as compared to 2010, while the growth in net premiums was of about 34.8%, to UAH 17.9 billion (EUR 1.7 billion). Claims paid in the same period decreased by about 20%, to UAH 4.8 billion (EUR 457 million), according to the Ukrainian League of Insurers data, presented on the occasion the Yalta International Forum by Alexander FILONIUK, President LIOU.