Ukraine
UKRAINE: in 1Q2024, TAS insurance group was leading in the MTPL market
In the first quarter of 2024, TAS Group confirmed its undisputed leadership in the MTPL market - in terms of collected premiums, number of settled claims and amount of payments, Forinsurer writes.
17 April 2024UKRAINE: the credit rating of the TAS group confirmed at uaAA
The rating committee of the "Credit-Rating" agency decided to confirm the long-term credit rating of the TAS insurance group according to the National Rating Scale at uaAA.
9 April 2024STATISTICS: UKRAINE, FY2023: motor insurance remains the leader among insurance classes in terms of premiums
GWP of Ukrainian insurers in 2023 increased by 18.68% to UAH 47 billion (EUR 1.11 billion), as data published by the National Bank show. At that UAH 28.76 billion were received from individuals, UAH 17.2 billion - from legal entities, and UAH 1.06 billion - from reinsurers.
9 April 2024UKRAINE: GWP of TAS group in January-February 2024 reach UAH 670 million
TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 669.95 million (~EUR 16.22 million) in premiums in the first two months of 2024, which is 37.7% y-o-y, Forinsurer reports.
2 April 2024UKRAINE: MTPL GWP in January-February increased by more than 22%, while paid claims – by 41% y-o-y
In the first two months of 2024, Ukrainian insurance companies concluded 1,124.1 thousand MTPL contracts, which is 2.37% more y-o-y. In January-February 2024, total GWP in the segment amounted to UAH 1.43 billion (+22.6%)/~EUR 34.63 million, according to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
27 March 2024UKRAINE: GWP of INGO in 2023 increased by 50%, and paid claims by 74%
In 2023, INGO, which is among the top 10 insurers based on the 3Q results, paid out over UAH 1.172 billion (~EUR 27.82 million) to its clients, which is 74% more y-o-y. At the same time, the company's GWP increased by 50%, Forinsurer writes with reference to the insurer's annual report.
19 March 2024UKRAINE: the largest GWP increase of PZU Ukraine in 2023 recorded on Green Card policies
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.
5 March 2024UKRAINE: A war risk insurance system to be created in Ukraine
The Financial Stability Board has agreed on a concept note for creation of a fully functional war risk insurance system in Ukraine. The concept was developed with the participation of specialists from the World Bank, the National Bank (NBU), the Ministry of Finance, and the Ministry of Economy, Forinsurer reports.
21 February 2024Euroins Ukraine boosts insurance premium collections by 20.4%, indemnity payments by 41.5% in 2023
Insurance premium collections by the Euroins Ukraine, a subsidiary of European insurance company Euroins Insurance Group (EIG), increased by 20.4% y-o-y, to UAH 564.909 million in 2023, Ukrainian media said, citing the Euroins Ukraine management's interim report published in the information system of Ukraine's National Securities and Stock Market Commission.
8 February 2024UKRAINE: total GWP of the TAS group in 2023 increased by 45.5% to UAH 3.5 billion
The TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 3,539.92 million (~EUR 84.04 million) in 2023, which is 45.5% more y-o-y, Forinsurer reports.
7 February 2024UKRAINE: ARX and ARX Life increased paid claims by 33% in 2023
During 2023, ARX and ARX Life paid their clients UAH 1.4 billion (+33% y-o-y)/~EUR 33.23 million, which the company considers a new record, Forinsurer writes.
29 January 2024UKRAINE: The amount of MTIBU payments from the Victim Protection Fund in 2023 increased by 42%
In 2023, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) made 7,524 payments from the Victim Protection Fund for a total of UAH 436.8 million (~EUR 10.37 million). The number of regulatory payments increased by 30% y-o-y, and the amount increased by 42.5%, Forinsurer reports.
23 January 2024UKRAINE: in January-November the TAS group’s business expands by almost 47%
TAS Insurance Group, which is among the top 20 insurers in Ukraine, collected UAH 3,224.32 million (~EUR 81.26 million) in premiums in January–November 2023, which is 46.6% more y-o-y, Forinsurer wrote.
9 January 2024UKRAINE: MetLife confirms its leadership in the life insurance market after 9M2023
Based on the results of 3Q2023, MetLife once again confirmed its leadership in the life insurance market in terms of GWP, paid claims, number of insured persons, as well as in terms of financial stability - assets and insurance reserves, Forinsurer wrote.
5 December 2023STATISTICS: UKRAINE, 3Q2023: non-life insurance generates almost 90% of market premiums
The insurance market of Ukraine in January-September 2023 recorded an increase of 19.49%. Total GWP reached UAH 34.14 billion (EUR 885.55 million), according to data published by the National Bank (NBU).
5 December 2023UKRAINE: business of VUSO in 3Q grows by over 64% y-o-y
The insurance company VUSO (one of the TOP 10 insurers in Ukraine) collected premiums worth about UAH 2 billion (~EUR 51.04 million) in January-September 2023, which is 64.4% more y-o-y, Forinsurer reports.
27 November 2023UKRAINE: MTIBU: from January to September, 9.3% more MTPL contracts concluded than a year earlier
In terms of the number of MTPL contracts, concluded for the third quarter of 2023, the TOP 3 includes ORANTA, TAS and Knyazha Vienna Insurance Group. In terms of collected GWP, TAS ranks first, as MTIBU (Motor (Transport) Bureau of Ukraine) reports in its press release.
27 November 2023UKRAINE: MTIBU: based on the 3Q results, 16 insurers have the highest ratings
Based on the 3Q2023 results, 16 insurers out of 35 MTIBU-members (Motor (Transport) Insurance Bureau of Ukraine) have the highest ratings based on all indicators of the bureau’s report. Only 3 insurance companies received a low rating for the “Quality of claim settlement”, Forinsurer reports.
20 November 2023UKRAINE: 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
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.
13 November 2023UKRAINE: MTIBU paid over UAH 326 million from the Victim Protection Fund in 9M2023
For 9M2023, MTIBU made over 5.6 thousand payments from the Bureau’s Victim Protection Fund for a total amount of UAH 326.6 million (~EUR 8.33 million), which is 4.8% more compared to 2021 number-wise, and 61.6% more amount-wise.
6 November 2023
