The growth was mainly supported by the introduction of a free pricing mechanism, which completely changed the approach to forming prices of policies. It is noted that this helps to ensure financial stability of insurers and guarantees timely payments to victims of road accidents.
Digital transformation of the market also continues to gain momentum. In January-March 2025, 99.3% of MTPL contracts were concluded in electronic format, while in the first quarter of 2024 it was 73.8%.
According to MTIBU (Motor Transport Insurance Bureau of Ukraine), in the first quarter of 2025, total paid claims for road accidents amounted to UAH 1.4 billion (~EUR 0.03 billion), which is 18.67% more y-o-y. The average paid claim increased by 17.13% compared to the first quarter of 2024.
The European Accident Statement is especially actively used. In the first quarter of 2025, 15,926 insurance claims were settled under this procedure, which is 20.6% more y-o-y. Today, almost every second claim is processed using the European Accident Statement.
According to the quarterly results, among the companies the largest number of MTPL contracts was concluded by ORANTA - more than 267 thousand. In terms of GWP, the leader was TAS. In terms of the number of settled claims for road accidents, ORANTA also settled the largest number of claims. In terms of payments, TAS is the leader, having paid over UAH 189 million.
As for Green Card policies, in the first quarter of 2025 their number decreased by 12.51% y-o-y. MTIBU believes that this decrease is primarily due to changes in the conditions of stay of Ukrainian cars in some European countries: owners were forced to re-register their cars and arrange insurance through foreign companies. However, despite a decrease in the number of contracts, GWP collected in this segment increased by 2.83% and exceeded UAH 1.2 billion (~EUR 0.02 billion).
The leader in the number of Green Card policies concluded in January-March of this year is the USG (Ukrainian Insurance Group). In terms of GWP collected, TAS holds the lead.
The number of claims under Green Card policies for accidents committed by Ukrainian drivers abroad also decreased - by 8.8%. The total paid claims amounted to EUR 12.4 million, which is 2.89% less y-o-y.
The largest number of claims in the first quarter of 2025 were settled under Green Card policies issued by TAS for EUR 3.3 million.
An important innovation in this segment was the introduction of an electronic insurance certificate. Starting January 1, 2025, a digital version of Green Card policies was officially recognized by all member countries of the international system, the source added.
*EUR 1 = UAH 44.47 (April 01, 2025)
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