Ukraine
UKRAINE: MTIBU's regulatory payments increased in January, with the largest share being payments for bankrupt insurers
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) made 1,331 regulatory payments from the Victims Protection Fund in January 2025 for a total of UAH 75.7 million (~EUR 1.76 million). According to Forinsurer, the number of regulatory payments increased by 107% y-o-y, and the total amount of payments increased by 108%.
3 March 2025UKRAINE: TAS Group business grows by 47% in January
TAS Insurance Group, one of the leaders in the insurance market, collected UAH 525.33 million (~EUR 12.08 million) under concluded insurance contracts in January 2025, which is 46.8% more y-o-y, Forinsurer writes.
24 February 2025UKRAINE: In 2024, 38.5% of road accidents were settled using European Accident Statement
In 2024, 38.5% of road accidents in Ukraine were settled using the European Accident Statement, which is 6.5% more y-o-y. This confirms growing popularity of the European Accident Statement among drivers, Forinsurer writes with reference to the MTIBU (Motor Transport Insurance Bureau of Ukraine) report.
19 February 2025UKRAINE: ARX and ARX Life GWP collected in 2024 exceeded the previous year's result by 15%
In 2024, ARX and ARX Life collected UAH 4.6 billion (~EUR 105.79 million) in premiums, which is 15% higher y-o-y. The companies' net profit reached almost UAH 520 million. ARX and ARX Life are the leaders in tax payments among Ukrainian insurance companies, Forinsurer writes
19 February 2025UKRAINE: About USD 1 billion needed to insure war risks in grain and commodity exports
An additional USD 1 billion is needed to expand the powers of the Export Credit Agency (ECA) to insure grain and commodity exports in Ukraine, Vitaliy Koval, Minister of Agrarian Policy and Food, told Interfax-Ukraine, Forinsurer writes.
10 February 2025UKRAINE: Fairfax becomes 100% owner of ARX, ARX Life and UNIVERSALNA
Canadian group Fairfax Financial Holdings completed a shareholder agreement with the European Bank for Reconstruction and Development and became 100% owner of three Ukrainian insurance companies - ARX, ARX Life and UNIVERSALNA, Forinsurer reports.
4 February 2025UKRAINE: TAS Insurance Group becomes the leader for all key indicators by the end of 2024
TAS Insurance Group became the leader in the Ukrainian market for all the key indicators at the end of 2024, according to the National Association of Insurers of Ukraine (NAIU), Forinsurer reports.
27 January 2025UKRAINE: MTPL market rises by 26% in 2024
MTPL GWP during 2024 increased significantly - by 26% y-o-y and exceeded UAH 11 billion (~EUR 0.25 billion), Forinsurer reports based on the MTIBU report.
20 January 2025UKRAINE: LIOU and NAIU create the Federation of Insurance Associations of Ukraine
The League of Insurance Organizations of Ukraine (LIOU) and the National Association of Insurers of Ukraine (NAIU) signed a Memorandum of Cooperation and Partnership to consolidate efforts to develop a solvent, sustainable, competitive insurance market in Ukraine and protect the rights of consumers of insurance services, according to Forinsurer.
20 January 2025STATISTICS: UKRAINE, 3Q2024: non-life grew by 12%, while life insurance - by almost 14%
The Ukrainian insurance market demonstrated growth in all key indicators for the first 9 months of 2024 - assets, insurance premiums and paid claims. GWP rose by 12.18% to UAH 38.30 billion (EUR 833.48 million), and paid claims - by 25.30% to UAH 15.07 billion (EUR 327.95 million), according to data published by the National Bank.
8 January 2025UKRAINE: The amount of eligible assets of insurance companies at the end of 3Q2024 reached UAH 64 billion
The overall structure of eligible assets for calculating the regulatory capital of Ukrainian insurance companies as of October 1, 2024, demonstrates stability and ensures compliance with solvency requirements, Forinsurer writes based on the analysis of insurers' reports provided to the NBU (National Bank).
17 December 2024UKRAINE: TAS Insurance Group premiums increase by 36% in 10 months
For the period from January to October of this year, total GWP of the TAS Insurance Group amounted to UAH 3,980.45 million (~EUR 89.47 million), which is 36.1% more y-o-y, Forinsurer reports.
3 December 2024UKRAINE: INGO joins the League of Insurance Organizations of Ukraine
INGO Insurance Company has become a new member of the League of Insurance Organizations of Ukraine (LIOU), which opens up additional opportunities for the company for cooperation, development of industry initiatives and participation in the formation of common strategies to strengthen the country's insurance market, Forinsurer writes.
3 December 2024UKRAINE: in 9M2024, INGO expands its business by 23.5%
INGO, which is among top-5 insurers in Ukraine, recorded growth in almost all key indicators in the first 9 months of 2024. Total GWP amounted to UAH 2.46 billion (~EUR 53.67 million), which is 23.5% more y-o-y.
25 November 2024UKRAINE: ARX GWP increase by 14% in 9M2024
ARX, which is among top-5 insurers in Ukraine and operates in risk insurance, collected more than UAH 3.1 billion (~EUR 67.64 million) in premiums in the first 9 months of 2024, which is 14% more y-o-y. The company's paid claims amounted to almost UAH 1.3 billion/~EUR 28.36 million (+28% in UAH), Forinsurer writes.
12 November 2024Ukraine: NBU prepares changes to reporting by insurers and other non-banking market participants
The National Bank of Ukraine (NBU) has drafted and proposed for public discussion amendments to the rules of compiling and submitting reports by participants of the non-banking financial services market, Interfax reports.
7 November 2024UKRAINE: TAS premiums rise by 37% from January to September
TAS Insurance Group (one of the top 20 insurers in Ukraine) collected UAH 3.47 billion (~EUR 75.80 million) in premiums in the first 9 months of 2024, which is 36.7% more y-o-y, Forinsurer writes.
28 October 2024UKRAINE: INGO paid record compensation to farmers – over UAH 231 million
The insurance company INGO paid record compensation to farmers – over UAH 231 million (~EUR 5.17 million), Forinsurer wrote. 97% of farmers who participate in the “Meteoprotection” program in the 2024 season received record insurance compensation due to the extremely dry and hot season during the flowering and grain filling time.
24 October 2024STATISTICS: UKRAINE, 1H2024: Motor Hull, MTPL and Green Card generate 56% of the market premium portfolio
In the first half of 2024, the market grew to UAH 24.21 billion (EUR 558.43 million), which is 13.37% more y-o-y in local currency and indicates an increase in demand for insurance products. Non-life accounted for 89% of the total GWP, while the share of life insurance approached 11%, as data published by the National Bank show.
9 October 2024UKRAINE: Green Card insurance rises 6.2% y-o-y from January to August
The number of Green Card policies issued in Ukraine in January-August 2024 decreased by 8.7% y-o-y and amounted to slightly over 1 million units, Forinsurer writes with reference to the MTIBU’s report (Motor Transport Insurance Bureau of Ukraine).
26 September 2024
