UKRAINE: in 2020 MetLife collected a record amount of GWP

11 May 2021 — Marina MAGNAVAL
In the life insurance market of Ukraine, MetLife was again the leader in 2020 in terms of key indicators and ended 2020 with a record GWP amount of UAH 1.555 billion (EUR 44.76 million*), which is 26% more y-o-y, Forinshurer informed.

As market data of the NBU (National Bank of Ukraine) shows, MetLife in 2020 occupied 31% of the entire Ukrainian life insurance market.

Besides, the company was also the leader in terms of paid claims, which exceeded UAH 211.9 million (+27% y-o-y) and is equivalent to 33% of all paid claims in the life insurance sector.

It is worth noting that in 2020 MetLife also increased its assets (+18.5%) to UAH 3.935 billion, and according to this indicator, the company ranks first in the industry rating of Insurance TOP magazine. At the same time, the company's net profit amounted to UAH 171.9 million, insurance reserves increased by 23% to UAH 3.366 billion - they make up 27% of the total reserves of the Ukrainian life insurance market.

"MetLife results once again confirm that success in the insurance business most often depends not on external circumstances, but on the team's work, dedication, courage and willingness to move forward despite difficulties (...) In 2020, we did not just develop faster than the market, we did the main thing - gave confidence and financial security to hundreds of thousands of our clients. And this is the most important result, for which it is worth working and growing", commented Inna BELYANSKAYA, Chairman of the Management Board of MetLife in Ukraine.

According to the Insurance TOP, MetLife has been the leader in terms of GWP and other key performance indicators on the Ukrainian life insurance market for more than 5 years.

*at the following exchange rate:

1 EUR = 34.7396 UAH (as of 01.01.2021)

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