UKRAINE: the largest GWP increase of PZU Ukraine in 2023 recorded on Green Card policies

5 March 2024 — Marina MAGNAVAL
Insurance companies PZU Ukraine and PZU Ukraine life insurance (among the top 25 insurers in Ukraine) have summed up preliminary results for 2023. PZU Ukraine collected UAH 1,869 million (~EUR 44.37 million) in premiums, which means an increase of 46.1% y-o-y, Forinsurer reports.

The largest GWP increase was recorded on Green Card policies - by 119% (+ UAH 266 million), a significant increase was demonstrated by voluntary health insurance by 70% (+ UAH 100 million) and domestic MTPL - by 55% (+ UAH 178 million), MoD increased by 29% (+ UAH 83 million). The share of MTPL in the company's portfolio reached 27% (UAH 499.4 million). On Green Card policies, the company collected UAH 488.9 million, which is 26% of the insurer’s total premiums.

In 2023, the total amount of paid claims of PZU Ukraine reached UAH 701.4 million, which is 22% more y-o-y. UAH 167.4 million were paid in MoD, in MTPL the company paid out UAH 195.0 million, and under Green Card policies – UAH 109.7 million. The PZU Ukraine life insurance company paid out UAH 46.4 million to its clients in 2023, which is UAH 1 million more than in 2022.

*EUR 1 = UAH 42.12 (31.12.2023)