Ukraine
UKRAINE: 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 2023UKRAINE: MTIBU concludes a Memorandum of Partnership with all local professional associations of insurers
MTIBU (Motor (Transport) Bureau of Ukraine) has concluded a Memorandum of Partnership with all local professional associations of insurers: the National Association of Insurers of Ukraine, the Insurance Business Association, and the League of Insurance Organizations of Ukraine, according to a press release from MTIBU, according to the MTIBU press release.
6 November 2023UKRAINE: In 9M2023 ARX expands its business by 41% to UAH 2.8 billion
ARX, one of the top non-life insurers in Ukraine, collected almost UAH 2.8 billion (EUR 71.46 million) for 9 months of 2023, which is 41% more y-o-y. The company's paid claims exceeded UAH 988 million (+27%), and the number of contracts increased by 102%, Forinsurer reports.
30 October 2023UKRAINE: GWP of Euroins Ukraine for 9M2023 increased by 22% y-o-y
Euroins Ukraine, a subsidiary of the European insurance group Euroins Insurance Group (EIG), collected UAH 408 million (~EUR 10.41 million) for the first 9 months of 2023, which is 22% more y-o-y, Forinsurer reports.
25 October 2023UKRAINE: TAS group premiums increase by more than 48% y-o-y in 8 months
The TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 2223.12 million (~EUR 55.35 million) of GWP for 8 months of this year, which is 48.5% more y-o-y, Forinsurer writes.
25 September 2023UKRAINE: Euroins Ukraine and European Travel Insurance leave NASU
Since September 2023, insurance companies Euroins Ukraine and European Travel Insurance have ceased their participation in the National Association of Insurers of Ukraine (NASU). Both companies left NASU by decision of European shareholders, Forinsurer reports.
18 September 2023UKRAINE: VUSO expands its business by 79% in the first half of the year
According to the 1H results, VUSO insurance company (one of the top 10 insurers in the country) collected premiums in the amount of UAH 1.18 billion (EUR 29.71 million), which is 79% more y-o-y in local currency, Forinsurer writes citing the National Bank data.
6 September 2023UKRAINE: in 2Q2023 the insurance sector demonstrates profitability and premium growth
According to the National Bank of Ukraine (NBU), in 2Q2023 the non-bank financial sector of Ukraine underwent a variety of changes, with the majority of sectors reporting a growth of their assets, Interfax reports, citing the NBU’s non-bank financial sector review.
31 August 2023STATISTICS: UKRAINE, 1H2023: market growth supported by non-life insurance, which exceeded 89% of the market portfolio
The insurance market of Ukraine in 1H2023, according to data published by the National Bank (NBU), saw an increase of 21.33%. The total GWP increased to UAH 21.35 billion (EUR 533.86 million).
31 August 2023UKRAINE: MTPL market rises 32% in the first half of the year
The MTPL market in Ukraine in January-June 2023 grew by 32.3% y-o-y, amounting to UAH 3.8 billion (~EUR 94.81 million), Forinsurer writes according to the MTIBU report.
24 August 2023UKRAINE: ARX and ARX Life increase GWP and paid claims in 1H2023
In 1H2023, total GWP of ARX and ARX Life (among top 5 insurers in Ukraine) exceeded UAH 1.8 billion, (~EUR 44.91 million) which is 40% more y-o-y. At the same time, total profit of the two companies amounted to UAH 345.4 million, Forinsurer reports.
16 August 2023UKRAINE: in 1H2023 the MTPL market grows by more than 32% y-o-y
The MTPL market in Ukraine from January to June 2023 grew by 32.3% y-o-y. According to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine), Ukrainian insurers increased MTPL GWP to UAH 3.8 billion (~EUR 94.81 million), including on e-policies to UAH 2.78 billion (+48.1%), Forinsurer reports.
7 August 2023UKRAINE: MTIBU: Payments from the Victims Protection Fund increase by more than 58% in 1H compared to 2021
According to the 1H results, the MTIBU (Motor (Transport) Insurance Bureau of Ukraine) made almost 4,000 payments from the Bureau's Victim Protection Fund for a total of UAH 225 million (~EUR 5.61 million), as the Bureau stated in its press release.
1 August 2023UKRAINE: Energoatom risks insured for UAH 147 million (~EUR 3.65 million)
The national nuclear energy generating company Energoatom and the insurance company Pervaya, on behalf of the Nuclear Insurance Pool of Ukraine, signed an agreement on compulsory insurance of civil liability for nuclear damage worth UAH 146.9 million (~EUR 3.65 million), Forinsurer reports citing Interfax-Ukraine.
6 July 2023UKRAINE: candidates for the position of General Director of MTIBU has been determined
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) has determined the list of candidates for the position of General Director of MTIBU, Forinsurer informed.
29 June 2023UKRAINE: Euroins Ukraine expands its business by 29% in January-May
Euroins Ukraine, a subsidiary of the international insurance group Euroins Insurance Group (EIG), in January-May 2023, maintained its financial stability and fulfilled all obligations to customers, fully meeting the requirements of the market regulator, Forinsurer reports.
29 June 2023
