Ukraine's insurance market grew by 36.24% to UAH 74 billion (EUR 1.48 billion) in 2025, including UAH 67.98 billion in non-life insurance and UAH 6.01 billion in life insurance, according to the National Bank of Ukraine (NBU) quarterly report. Total paid claims rose by 28.19% to UAH 26.74 billion (EUR 0.53 billion).

Motor insurance (MTPL, Motor Hull, Green Card summed) increased its market dominance, exceeding 61%. MTPL grew significantly over the year due to the transition to free pricing. Property insurance expanded by almost 28%, supported by demand from war risks and collateral insurance returns. Liability and financial risk insurance also increased.

Insurers' paid claims saw an uptrend across the market, with property risk insurance recording the fastest growth (+120.37%). At the same time paid claims declined in some segments, such as accident insurance and financial risk insurance.

According to the regulator, life insurers' profits increased by 33.2% to UAH 1.8 billion. This growth was driven by financial and investment income. Net profit of non-life insurers for 2025 doubled to UAH 5 billion. This was primarily supported by their insurance activities and investment income. Overall, Ukrainian insurance companies ended 2025 with growth in assets and profitability, according to the NBU's non-banking financial sector review.

Non-life insurers increased their assets by 37.9% year-on-year. The share of highly liquid assets in eligible assets rose to 85.1%, including cash in banks, government securities, and funds of the MTIBU. The life insurance segment grew more steadily, according to the NBU. Assets increased by 14.8% year-on-year. The share of highly liquid assets reached 95%.

According to the NBU, market concentration has increased: the share of the top 5 by premiums increased to 43.7%, and the top 10 - to 73.9%. The number of active companies dropped from 55 to 47, with three insurers leaving the market in the fourth quarter. In life insurance, the number of companies remained unchanged at 10. The market remains highly concentrated, with the three largest companies controlling approximately two-thirds of the reserves.

In the non-life insurance segment, TAS Group leads by GWP (UAH 7.81 billion), followed by ARX and VUSO. In the life insurance segment, MetLife remains the undisputed leader with a 49.22% share (UAH 2.95 billion).

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