UKRAINE: in 1H2023 the MTPL market grows by more than 32% y-o-y

7 August 2023 — Marina MAGNAVAL
The MTPL market in Ukraine from January to June 2023 grew by 32.3% y-o-y. According to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine), Ukrainian insurers increased MTPL GWP to UAH 3.8 billion (~EUR 94.81 million), including on e-policies to UAH 2.78 billion (+48.1%), Forinsurer reports.

The number of concluded MTPL contracts reached 3.58 million units, which is 14% more than in the same period a year earlier, 2.37 million contracts were concluded in electronic form (+29.1%).

Total paid claims increased by 38.8% to UAH 1.83 billion. MTIBU recorded an increase in the number of settled insurance claims by 10.4% to 62,000.

*EUR 1 = UAH 40.08 (as of 01.07.2023)