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.

Non-life GWP grew by 12% to UAH 34.24 billion in January-September, while growth in paid claims in the segment continued from the beginning of 2023 due to inflation and devaluation of the national currency. Life GWP and paid claims also resumed growth: premiums increased by almost 14% to UAH 4.05 billion, and paid claims - by 13.55% to UAH 1.01 billion.

Motor insurance accounts for over 56% of all market premiums (MTPL, Motor Hull and Green Card). At the same time, the most impressive growth rates were observed in fire and other perils, and accident insurance.

The main performance indicators of insurers remained acceptable, and the market was profitable in January-September.

In the 3Q, life insurers' assets remained almost constant. And the assets of non-life insurers grew by 6% q/q, despite 14 companies leaving the market. During the quarter, the share of deposits in life insurers' assets increased, while the share of bonds and current accounts decreased. The asset structure of non-life insurers has hardly changed, while the share of technical reserves in liabilities increased.

In terms of GWP, TAS Group is the market leader (UAH 3.47 billion), ARX has moved to second place (UAH 3.14 billion), and UNIQA rounds out the top three (UAH 2.86 billion).

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