According to the results of January-September 2021, the volume of INGO's premiums earned increased by 22% to UAH 1.4 billion (~EUR 45.42 million*), Forinsurer reports.

For 9 months of 2021, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) paid the victims of traffic accidents UAH 202.3 million (~EUR 6.56 million*) from the Victim Protection Fund, and the total number of payments reached 5.4 thousand. The number of payments increased by 18.5% y-o-y, while the amount - by 32%, the press release of the Bureau said.

In the first half of 2021, the expenses of Ukrainian insurance companies on advertising and marketing remained at the level of previous years in the amount of UAH 47 million (~EUR 1.45 million*), of which UAH 39.8 million insurers spent on non-life insurance, and UAH 8.2 million - on life insurance, Forinsurer reports.

In September, Odessa hosted the XXI International Financial Forum to discuss the problems and prospects of business in the field of insurance and financial services, strategies for the development of the financial sector of Ukraine until 2025, changes in the legislative framework for financial and insurance business under the regulatory control of the NBU, new organizational and technological solutions and more, Forinsurer reports.

In September, Odessa hosted the XXI International Financial Forum to discuss the problems and prospects of business in the field of insurance and financial services, strategies for the development of the financial sector of Ukraine until 2025, changes in the legislative framework for financial and insurance business under the regulatory control of the NBU, new organizational and technological solutions and more, Forinsurer reports.

The quality of settlement in MTIBU has improved according to the results of a survey among victims of road accidents, who received compensation from the guarantee funds of the Bureau. MTIBU conducts this survey annually.

The Cabinet of Ministers supported submission to the Verkhovna Rada of the draft law "On Environmental Insurance", which provides for creation of the Bureau of Environmental Insurance, Forinsurer said.

At the beginning of September 2021, 153 non-life insurers (previously 160) and 17 life insurers were working in the Ukrainian insurance market, Forinsurer reported.

The insurance market in Ukraine in 1H2021 grew by 17.9% to UAH 24.8 billion (EUR 767.13 million). At the same time, net premiums increased by 25.6% to UAH 23.5 billion, according to the data published by the National Bank of Ukraine (NBU).

In 2Q2021, the number of MTPL contracts concluded reached 2.4 million units, which is 8.5% more y-o-y. GWP on them amounted to UAH 1.9 billion/EUR 58.74 million* (+14.9% in UAH). Paid claims amounted to UAH 862 million - the number of settled claims increased by 40%, and the volume of paid claims - by 46%, according to a press release from MTIBU.

In January-June 2021, the Ukrainian MTPL market grew by 14% to UAH 3.3 billion/~EUR 0.1 billion*, Forinsurer reports with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine). GWP under electronic MTPL contracts increased by 56% to UAH 1.7 billion.

According to the results of the first half of 2021, the non-life insurance company ARX is the leader in the Ukrainian market, with GWP over UAH 1.6 billion/~EUR 49.5 million* (26% more y-o-y in UAH).

Financing of the program of state support for agroinsurance, which means providing funds from the state budget to agricultural producers in the form of reimbursement of up to 60% of the cost of insurance policies, has been allocated at the level of UAH 240 million (~EUR 7.58 million), Forinshurer said.

As of July 31, 2021, 160 non-life insurers (vs 162 as of June 30) and 17 life insurers (vs 19) operate in the Ukrainian market, i.e. in a month, the number of insurance companies decreased by 4, Forinsurer reports.

For the first half of 2021, GWP of the TAS Group (included in the TOP-3 leaders in life and non-life insurance in Ukraine) amounted to UAH 1,152.65 million (EUR 35.63 million*), which is 25.7% more y-o-y, Forinshurer said.

Payments of MTIBU (Motor (Transport) Insurance Bureau of Ukraine) for January-June 2021 from the Victim Protection Fund of the Bureau amounted to UAH 141.7 million (~EUR 32.34 million*). Compared to the same period in 2020, the number of payments increased by 18.6%, while the amount increased by 36%, the Bureau reports.

MTIBU (Motor (Transport) Insurance Bureau of Ukraine) appealed to the National Bank of Ukraine with a proposal to increase MTPL insured amounts (maximum payment): up to UAH 160 thousand for property damage of victims, and UAH 320 thousand for harm to life and health, as well as to increase the limit of payments under the European Accident Statement to UAH 80 thousand, MTIBU reported.

From January to May 2021, the MTPL market in Ukraine grew by 14.6% to UAH 2.7 billion (~EUR 80.57 million*), Forinshurer reports according to the Motor (Transport) Insurance Bureau of Ukraine. At that MTPL GWP under e-policies increased by 59% to UAH 1.4 billion.

At the end of 1Q2021, the Ukrainian insurance market grew by 4.26% y-o-y (in local currency) and amounted to UAH 12.04 billion (EUR 367.95 million), according to the data published by the National Bank of Ukraine.

The TAS Insurance Group, one of the leaders in the Ukrainian insurance market, increased its GWP by 25.4% y-o-y in the first five months of 2021 to UAH 967.74 million (~EUR 28.87 million*), Forinshurer said.