UKRAINE: in 9M2023, the number of concluded MTPL contracts increased by 9.3%, and the number of Green Card policies - by 3.5% y-o-y

13 November 2023 — Marina MAGNAVAL
MTIBU reported that for January-September 2023, over 5.7 million MTPL contracts were concluded, which is 9.3% more y-o-y. However, it still remains 15.7% lower than in the first 9 months of pre-war 2021, according to a press release from MTIBU.

GWP amounted to UAH 6.3 billion/~EUR 0.16 billion (+27.1% y-o-y and +19.7% compared to 2021).

Insurance companies settled 92.5 thousand claims (11.8% more y-o-y and 26.6% less than in 9M2021) and paid over UAH 2.7 billion/~EUR 0.06 billion to victims of road accidents (+36.1% and +5.1%, respectively).

The share of e-policies in the total number of MTPL contracts was 67.7%, in the total GWP – 74.1%, these are the highest results since introduction of e-MTPL.

In 9M2023, the number of Green Card contracts increased by 3.5% y-o-y, amounting to 1.25 million units. However, compared to January-September 2021, the number of Green Card contracts increased by 117%, which was caused by the mass evacuation of Ukrainians abroad, many of them left in their own cars.

GWP under Green Card contracts reached UAH 4 billion (~EUR 0.10 billion). This means an increase of 38% y-o-y.

Under Green Card contracts, 10,740 claims (+109%) were settled in the amount of EUR 33.1 million (+141.8%). This dynamics is associated with a significant increase in the number of Ukrainian cars with Ukrainian Green Card policies, which was reflected in the frequency of insured events caused by Ukrainian drivers abroad.

For 9M2023, the number of electronic Green Card policies in the total number of such contracts amounted to 67% or 0.84 million units.

*EUR 1 = UAH 39.18 (01.10.2023)