UKRAINE: In the first half of 2020, almost 93% of MTPL claims paid for property damage

17 September 2020 — Marina MAGNAVAL
The number of traffic accidents in the country in 1H2020 amounted to 72.4 thousand, which is 1% less y-o-y, and the number of traffic accidents with injured decreased by 4%, to 11.2 thousand, while the mortality rate is 9.1 people per 100 thousand population, according to the press-release of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).

Although the number of MTPL policies, issued in 1H2020, remained almost unchanged y-o-y (+0.21%), GWP reached UAH 2.9 billion/~EUR 95 million* (+20.1% in UAH), and paid claims increased by 6.9%, to almost UAH 1.3 billion. The share of claims paid for damage to life and health was 7.1%, and for property damage - 92.9%.

The General Director of MTIBU, Volodimir SHEVCHENKO noted that the average claim settlement period has significantly decreased since 2017: from 99 days in 2017 to 77 days in the second quarter of 2020.

The number of Green Card policies in 1H2020 dropped by 40.8% y-o-y, to 296.9 thousand units, and GWP decreased by about 36.4%, to UAH 562.2 million, which was caused by restrictions on transport movement due to the coronavirus pandemic. However, paid claims in this segment increased by 37.3%, to EUR 9.4 million. The biggest number of accidents, caused by drivers of vehicles registered in Ukraine, was recorded in Poland (39.4% of the total), Germany (13.8%) and Russia (12.9%).

Volodimir SHEVCHENKO pointed out that despite the challenging current situation, the sector demonstrates stable performance and has even improved service quality. The Bureau plans to continue developing digital motor insurance environment as an important part of modernization and improvement of the level of protection and service for road users.

* for the following exchange rate:
1 EUR = 29.8677 UAH (July 1st, 2020)

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