Ukraine
UKRAINE: NBU introduces changes to promote transparency and strengthen financial discipline on the insurance market
The National Bank of Ukraine (NBU) has submitted for discussion a draft of amendments to the regulatory legal acts governing insurers’ activities. The document provides for adjustments to approaches to the formation of technical reserves, Forinsurer writes.
15 April 2025STATISTICS: UKRAINE, FY2024: the share of TOP 10 insurers exceeds 71%
Ukraine's insurance market grew by 15.53% to UAH 54.31 billion (EUR 1.23 billion) by the end of 2024, including UAH 5.72 billion in life insurance and UAH 48.59 billion in non-life insurance, according to data published by the National Bank (NBU).
9 April 2025UKRAINE: Arsenal Insurance joins the League of Insurance Organizations of Ukraine
Arsenal Insurance, which ranks 5th on the market by assets, joined the League of Insurance Organizations of Ukraine (LIOU), Forinsurer reports.
8 April 2025UKRAINE: Igor Gordienko to become a member of the INGO Supervisory Board
Igor Gordienko will become a member of the Supervisory Board of INGO, which is among the top 5 non-life insurers in the country.
8 April 2025UKRAINE: The share of MTPL in total GWP of the TAS group for January-February exceeded 44%
In the first two months of 2025, the TAS insurance group, one of the leaders in the insurance market, generated UAH 990.95 million (~EUR 23.15 million), which is 47.9% more y-o-y, Forinsurer writes.
24 March 2025UKRAINE: MTIBU's regulatory payments increased in January, with the largest share being payments for bankrupt insurers
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) made 1,331 regulatory payments from the Victims Protection Fund in January 2025 for a total of UAH 75.7 million (~EUR 1.76 million). According to Forinsurer, the number of regulatory payments increased by 107% y-o-y, and the total amount of payments increased by 108%.
3 March 2025UKRAINE: TAS Group business grows by 47% in January
TAS Insurance Group, one of the leaders in the insurance market, collected UAH 525.33 million (~EUR 12.08 million) under concluded insurance contracts in January 2025, which is 46.8% more y-o-y, Forinsurer writes.
24 February 2025UKRAINE: In 2024, 38.5% of road accidents were settled using European Accident Statement
In 2024, 38.5% of road accidents in Ukraine were settled using the European Accident Statement, which is 6.5% more y-o-y. This confirms growing popularity of the European Accident Statement among drivers, Forinsurer writes with reference to the MTIBU (Motor Transport Insurance Bureau of Ukraine) report.
19 February 2025UKRAINE: ARX and ARX Life GWP collected in 2024 exceeded the previous year's result by 15%
In 2024, ARX and ARX Life collected UAH 4.6 billion (~EUR 105.79 million) in premiums, which is 15% higher y-o-y. The companies' net profit reached almost UAH 520 million. ARX and ARX Life are the leaders in tax payments among Ukrainian insurance companies, Forinsurer writes
19 February 2025UKRAINE: About USD 1 billion needed to insure war risks in grain and commodity exports
An additional USD 1 billion is needed to expand the powers of the Export Credit Agency (ECA) to insure grain and commodity exports in Ukraine, Vitaliy Koval, Minister of Agrarian Policy and Food, told Interfax-Ukraine, Forinsurer writes.
10 February 2025UKRAINE: Fairfax becomes 100% owner of ARX, ARX Life and UNIVERSALNA
Canadian group Fairfax Financial Holdings completed a shareholder agreement with the European Bank for Reconstruction and Development and became 100% owner of three Ukrainian insurance companies - ARX, ARX Life and UNIVERSALNA, Forinsurer reports.
4 February 2025UKRAINE: TAS Insurance Group becomes the leader for all key indicators by the end of 2024
TAS Insurance Group became the leader in the Ukrainian market for all the key indicators at the end of 2024, according to the National Association of Insurers of Ukraine (NAIU), Forinsurer reports.
27 January 2025UKRAINE: MTPL market rises by 26% in 2024
MTPL GWP during 2024 increased significantly - by 26% y-o-y and exceeded UAH 11 billion (~EUR 0.25 billion), Forinsurer reports based on the MTIBU report.
20 January 2025UKRAINE: LIOU and NAIU create the Federation of Insurance Associations of Ukraine
The League of Insurance Organizations of Ukraine (LIOU) and the National Association of Insurers of Ukraine (NAIU) signed a Memorandum of Cooperation and Partnership to consolidate efforts to develop a solvent, sustainable, competitive insurance market in Ukraine and protect the rights of consumers of insurance services, according to Forinsurer.
20 January 2025STATISTICS: UKRAINE, 3Q2024: non-life grew by 12%, while life insurance - by almost 14%
The Ukrainian insurance market demonstrated growth in all key indicators for the first 9 months of 2024 - assets, insurance premiums and paid claims. GWP rose by 12.18% to UAH 38.30 billion (EUR 833.48 million), and paid claims - by 25.30% to UAH 15.07 billion (EUR 327.95 million), according to data published by the National Bank.
8 January 2025UKRAINE: The amount of eligible assets of insurance companies at the end of 3Q2024 reached UAH 64 billion
The overall structure of eligible assets for calculating the regulatory capital of Ukrainian insurance companies as of October 1, 2024, demonstrates stability and ensures compliance with solvency requirements, Forinsurer writes based on the analysis of insurers' reports provided to the NBU (National Bank).
17 December 2024UKRAINE: TAS Insurance Group premiums increase by 36% in 10 months
For the period from January to October of this year, total GWP of the TAS Insurance Group amounted to UAH 3,980.45 million (~EUR 89.47 million), which is 36.1% more y-o-y, Forinsurer reports.
3 December 2024UKRAINE: INGO joins the League of Insurance Organizations of Ukraine
INGO Insurance Company has become a new member of the League of Insurance Organizations of Ukraine (LIOU), which opens up additional opportunities for the company for cooperation, development of industry initiatives and participation in the formation of common strategies to strengthen the country's insurance market, Forinsurer writes.
3 December 2024UKRAINE: in 9M2024, INGO expands its business by 23.5%
INGO, which is among top-5 insurers in Ukraine, recorded growth in almost all key indicators in the first 9 months of 2024. Total GWP amounted to UAH 2.46 billion (~EUR 53.67 million), which is 23.5% more y-o-y.
25 November 2024UKRAINE: ARX GWP increase by 14% in 9M2024
ARX, which is among top-5 insurers in Ukraine and operates in risk insurance, collected more than UAH 3.1 billion (~EUR 67.64 million) in premiums in the first 9 months of 2024, which is 14% more y-o-y. The company's paid claims amounted to almost UAH 1.3 billion/~EUR 28.36 million (+28% in UAH), Forinsurer writes.
12 November 2024
