Ukraine
UKRAINE: In January-September, income tax of the insurance sector increased by more than 21% y-o-y
In January-September 2020, income tax of Ukrainian insurance companies amounted to UAH 1.245 billion (~EUR 37.54 million*), which is 21.3% more y-o-y, Vice President of the League of Insurance Organizations of Ukraine (LIOU), Aleksandr ZALETOV, said.
11 November 2020UKRAINE: Total profit of ARX and ARX Life from January to September grew by 168% y-o-y
From January to September 2020, total GWP of ARX and ARX Life amounted to UAH 2.2 billion (~EUR 66.33 million*), which is 17% more y-o-y, while total net profit of the two companies reached UAH 308 million (+168% y-o-y), as Forinsurer reported.
5 November 2020UKRAINE: for 9 months MTIBU paid over UAH 12 million from the Victim protection fund to the victims of road traffic accidents
From January to September 2020, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) paid UAH 12.2 million (~EUR 0.36 million*) from the Victim protection fund to the victims of road traffic accidents-clients of bankrupt insurers, as MTIBU said in its press release.
22 October 2020UKRAINE: new tariffs for Green Card policies to be effective from October 19
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card insurance for travelling abroad by car, effective from October 19, OPEN4BUSINESS.COM.UA informed with reference to the Bureau.
20 October 2020UKRAINE: TAS insurance group sets a new sales record
TAS insurance group again set a sales record - GWP volume exceeded UAH 1.5 billion (~EUR 45.41 million*) as of October 7, 2020, Forinsurer writes.
16 October 2020STATISTICS: UKRAINE, 1H2020: Despite the general market decline by 23%, insurers' assets and insurance reserves increased
According to the data for 1H2020, published by the National Bank of Ukraine, the market decreased by 23% y-o-y, to UAH 21 billion (EUR 701.43 million). At the same time, the downtrend was observed only in the non-life sector, while life insurance recorded an increase of almost 10%.
8 October 2020UKRAINE: for January-September, the number of payments for uninsured drivers increased by 22% y-o-y
According to the results for 9 months of 2020 in Ukraine, the number of payments by the MTIBU Fund of protection of victims for uninsured drivers, responsible for road accidents, increased by 22% y-o-y while the amount of payments - by 23.5% y-o-y, MTIBU reported.
8 October 2020UKRAINE: partnership of ARX and InfoCar to make motor insurance more affordable
ARX insurance company, which is among TOP-3 non-life insurers in Ukraine, and the country's largest automotive media resource InfoCar announced a global partnership to make motor insurance more understandable and affordable, which also includes development and promotion of new products and online services, Forinsurer reports.
29 September 2020UKRAINE: In the first half of 2020, almost 93% of MTPL claims paid for property damage
The number of traffic accidents in the country in 1H2020 amounted to 72.4 thousand, which is 1% less y-o-y, and the number of traffic accidents with injured decreased by 4%, to 11.2 thousand, while the mortality rate is 9.1 people per 100 thousand population, according to the press-release of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
17 September 2020UKRAINE: GWP under Green Card policies dropped by more than 36% y-o-y
For the period from January to June 2020, GWP under Green Card policies, issued by members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) decreased to UAH 0.56 billion (~EUR 18.8 million*), which is 36.37% less y-o-y, Forinsurer reports.
10 September 2020UKRAINE: GWP of UNIQA group exceeded UAH 1.5 billion in the first half of 2020
UNIQA Ukraine insurance group, which includes UNIQA and UNIQA Life, received net profit before tax in the amount of UAH 324.5 million (~EUR 29.86 million*) in the first half of 2020, more y-o-y, as Forinsurer reports.
3 September 2020UKRAINE: MTPL GWP in 2Q2020 increased by almost 20% y-o-y
The number of MTPL contracts concluded in 2Q2020 amounted to 2.26 million units, which is almost at the same level as the prior year. MTPL GWP reached UAH 1.6 billion (~EUR 53.9 million*), which in local currency is 19.9% more y-o-y, as Motor (Transport) Insurance Bureau of Ukraine (MTIBU) informed on its website.
20 August 2020UKRAINE: January-June Green Card premiums decreased by more than 36% y-o-y
GWP under Green Card policies of Ukrainian insurance companies in the first half of 2020 decreased by 36.4% y-o-y, Forinsurer reports.
18 August 2020STATISTICS: UKRAINE, 1Q2020: GWP reduction and paid claims grew at a similar pace — over 13% y-o-y
In 1Q2020, the insurance sector of Ukraine decreased by 13.37% y-o-y in local currency, to about UAH 11.55 billion (~EUR 373 million*). At the same time, the market paid claims recorded similar growing dynamics, recording an increase by 13.25 y-o-y, the data published by the National Commission for Financial Service Markets shows.
30 July 2020UKRAINE: ARX Life — 7 years on the Ukrainian insurance market
In July 2020, ARX Life is celebrating 7 years of its operations on the Ukrainian insurance market. The company provides life insurance services to both corporate and individual clients. During its work, ARX Life joined TOP-10 largest life insurers in the country, Forinsurer reports.
30 July 2020UKRAINE: MTIBU: payments for uninsured vehicles in total amount of paid claims for the first half of the year reached almost 66%
In January-June 2020, MTIBU (Motor (Transport) Insurance Bureau) made payments from the guarantee funds of the Bureau in the total amount of UAH 104.3 million (~EUR 3.49 million*).
16 July 2020UKRAINE: the number of e-MTPL policies for the first half of 2020 increased by 224% y-o-y
For the first half of 2020, the number of e-MTPL policies exceeded 1.3 million units, which is 224% more y-o-y. GWP under these e-contracts amounted to UAH 1.12 billion/~EUR 37.5 million* (+228% in local currency), as the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) said in its press release.
8 July 2020UKRAINE: the number of complaints about delays in MTPL claim payments decreased by 75% in the past 5 years
From 2015 to 2019, the claims volume paid by local MTPL insurers to the victims of road accidents amounted to almost UAH 9 billion (~EUR 0.34 billion), according to MTIBU's (Motor Transport Insurance Bureau of Ukraine) analysis of the MTPL market dynamics.
10 June 2020UKRAINE: Foreign reinsurers' premiums increased by more than 12.6% y-o-y in 1Q2020
In the first quarter 2020, Ukrainian insurers paid UAH 2.78 billion (~EUR 91.89 million) insurance premiums under risk reinsurance contracts, which is 37.4% less y-o-y, said Oleksandr ZALETOV, the member of the National Commission for the State Regulation of Financial Services Markets, Forinsurer reports.
3 June 2020UKRAINE: NBU plans to transform the insurance market to meet international practices
The current legislation of the Ukrainian insurance market leaves it far behind when compared to other European countries. Its insurance penetration degree is roughly around 1.3%, while in Europe the average sits at a solid 5%. At the same time, the Ukrainian market saw a stable annual growth of about 20% in the latest years, according to the Lexology portal.
28 May 2020
