UKRAINE: In January-September 2022, the number of Green Card policies was the largest in the last 5 years

7 December 2022 —
In the third quarter of 2022, MTPL insurers paid more than UAH 700 million to the road victims. The number of MTPL agreements concluded in the third quarter amounted to 2.1 million units, which is 13.4% less y-o-y. GWP reached UAH 2.1 billion (~EUR 58.25 million), up 7.4%, according to a press release from the MTIBU (Motor (Transport) Insurance Bureau of Ukraine).

The number of claims settled decreased by 35% compared to the third quarter of 2021, and the amount of payments - by 20.6%.

The first place among insurers in terms of MTPL GWP collected, as well as in terms of the number of settled claims and the amount of compensation paid, belongs to TAS.

In the third quarter, MTIBU received 294 complaints from victims and insureds, which is somewhat less than in the same period last year. The average complaint rate is 1.1%, which is about the same as before the war.

In total, for 9 months of 2022, MTPL insurers paid more than UAH 2 billion to victims of road accidents. In January-September 2022, 5.2 million MTPL agreements were concluded, which is 23% lower y-o-y. GWP amounted to UAH 4.9 billion (-5.8%). At the same time GWP under electronic MTPL agreements is UAH 3.3 billion, which is 67.5% of the total. The share of electronic policies in the total number of contracts amounted to 61%.

The number of settled claims for the three quarters was 82.8 thousand (-34.3%), on which insurers paid more than UAH 2 billion (-22.8%) to victims of road accidents.

MTIBU General Director Volodimir Shevchenko commented: "I would like to note that the MTPL market is gradually stabilizing. Every month, the decline in market volumes slows down from a 28% fall in the first half of the year to 23% in the first three quarters of this year. More than 60% of contracts are drawn up in electronic form, during the hostilities, this method of issuing a policy turned out to be the most convenient", he said.

In January-September 2022, the number of Green Card insurance contracts more than doubled (+110%) the same period in 2021, amounting to 1.2 million units. This is the highest figure in the last 5 years. GWP under the Green Card agreements amounted to UAH 2.9 billion. This showed an increase of 138% compared to January-September 2021. Under Green Card insurance contracts, 5,143 claims (+36%) were settled in the amount of EUR 13.7 million (+19%), according to the press release.

*EUR 1 = UAH 36.05 (01.10.2022)



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