Ukraine
UKRAINE: 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 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 2023
