Based on the government decision, work of business entities in the country was prohibited from March 17 to April 3. Insurance companies were included into the list of exceptions and can fulfill their obligations in full, Forinsurer reported.
Total number of Green Card policies in 2019 reached 1.08 million units (+43.6% y-o-y). GWP of the segment increased by 26.8%, to UAH 1.63 billion (~EUR 61.7 million) vs. UAH 1.29 billion (~EUR 40.7 million) in 2018, according to the report of the Motor Transport Bureau of Ukraine (MTIBU).
In November 2019, MTIBU announced the creation of an innovative hub to support the development and promote technological startups for road safety. The MTIBU team of experts will analyze the proposed innovative solutions.
Ukrainian insurance market will start working in accordance with the "split" law from January 1, 2021, said Alexander BEVZ, Director of the National Bank's licensing department, at the VI International Carpathian Insurance Conference.
GWP of insurers-members of the Motor (transport) Insurance Bureau of Ukraine (MTIBU) in 2019 increased by 13.46% y-o-y, to UAH 5.1 billion (EUR 0.19 billion), according to the MTIBU Director General Volodymyr SHEVCHENKO.
In 2019, the National Commission for State Regulation of Financial Services Markets closed 27.5% more non-banking financial institutions than during 2018.
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), in 2019 over UAH 212 million (~EUR 8 million) were paid to road traffic accidents victims from the MTIBU guarantee funds. The total number of claims paid increased by 20.1%, while their amount went up 30.2%.
TAS Insurance group, one of TOP-5 insurance companies of Ukraine, reported that the group's GWP reached UAH 1.81 billion (~EUR 68.5 million) in 2019, which is 30.8% more y-o-y, Forinsurer writes.
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), total number of e-MTPL policies in 2019 exceeded 1.2 million units, while the GWP under electronic contracts amounted to about UAH 929.7 million (~EUR 35.18 million), Forinsurer reports.
The National Bank of Ukraine created two new departments - on methodology for regulating activities of non-banking financial institutions and on insurance market supervision, Forinsurer reports with reference to Interfax-Ukraine.
According to the preliminary results of 2019 summed up, the GWP of UNIVERSALNA insurance company (included in TOP-10 Ukrainian non-life insurers in 3Q2019) increased at the end of 2019 by 15% y-o-y, to UAH 950 million (~EUR 35.95 million), as Forinsurer reports.
Ukraine International Airlines (UIA) will pay all insurance payments and compensations to the families of killed passengers of the Tehran-Kyiv PS752 flight in accordance with the international rules, UIA President Yevhen DYKHNE reported at a briefing, news agency INTERFAX reported.
From January to September 2019, expenses for agents' remuneration of Ukrainian insurers increased by 72.5% y-o-y, according to the report for the mentioned period of the National Financial Services Commission.
According to PZU Ukraine group, the key event in 2019 on the Ukrainian insurance market was the signing of the "split" law - the transfer of the regulator's functions of the non-banking financial sector to the National Bank.
The total number of e-MTPL policies in 2019 (as of the mid-December) increased 7.6 times from 2018 level, to over 1 million e-policies (vs. 137.8 e-policies sold in 2018), Forinsurer reports.
GWP of the Ukrainian insurance market at the end of 3Q2019 increased to UAH 40.56 billion (EUR 1.54 billion*), which in local currency is 16.3% more y-o-y. Net premiums increased by 18.8% (to almost UAH 30.15 billion), as the data of the regulator show.
According to the Motor Transport Bureau of Ukraine (MTIBU), for the first 9 months of this year, the total number of Green Card policies increased by 43.2% y-o-y and reached almost 842 thousand units, Forinsurer reports.
According to the data published by MTIBU (Motor Transport Insurance Bureau of Ukraine), the total number of MTPL contracts amounted to 2 million units, while the GWP on MTPL reached UAH 1.27 billion (~EUR 48.2 million*), reports Forinsurer.
In January 2020, the National Bank and the National Commission for Securities and Stock Market will report on the program for 2020, presenting a new strategy for the financial sector's development until 2025. From July 1st, 2020 both entities will become the legal successors of the National Financial Services Commission, Forinsurer informs.
Insurers - full members of MTIBU (Motor (Transport) Insurance Bureau of Ukraine) have now been joined by GUARDIAN, which got the right to sell Green Card policies, Forinsurer reports.