UKRAINE: in 1H MTPL grew by 14% y-o-y, while Green Card increased by 38%

16 August 2021 —
In January-June 2021, the Ukrainian MTPL market grew by 14% to UAH 3.3 billion/~EUR 0.1 billion*, Forinsurer reports with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine). GWP under electronic MTPL contracts increased by 56% to UAH 1.7 billion.

In 1H2021, total number of concluded MTPL contracts amounted to 4.4 million units (+8%), while 2.1 million contracts were concluded in electronic format (+53%).

Total MTPL paid claims in January-June increased by 34% to UAH 1.7 billion. MTIBU also recorded an increase in the number of settled claims by 24.6% to 84.5 thousand claims, including those with the use of the European Accident Statement - up to 30.4 thousand (+33.4%).

Key indicators of domestic MTPL in January-June 2021

1H20201H2021Change (%)
Number of contracts, units4 033 1094 362 1418,16
including e-contracts, units1 349 0722 061 02152,77
GWP, UAH million2 9153 32514,04
including under e-contracts1 1181 74656,17
Number of claims67 84184 50624,56
including those settled with the use of the European Accident Statement 22 78730 40533,43
Paid claims, UAH million1 286 91 72434,02
including those paid under the European Accident Statement 22232244,84
Source: Forinsurer

MTIBU also summed up the results of the Green Card market for January-June 2021. GWP in this segment in the first half of the year increased by almost 38% to UAH 775 million. The number of contracts grew by 10.8% to 329 thousand.

The number of paid claims decreased by 24% to 2,486 units, and the amount of paid claims for the period decreased by 36% to EUR 6 million, Forinsurer informed. In addition, effective August 3, MTIBU reduced the price of the Green Card insurance due to the change in the euro/ hryvnia exchange rate.

Key indicators of the Green Card in January-June 2021

1H20201H2021Change (%)
Number of contracts, units296,932910,81
GWP, UAH million562,2775,437,92
Number of claims paid3 2632 486-23,81
Paid claims, UAH million9,46-36,36
Source: Forinsurer

*at the following exchange rate:

1 EUR = 32.3463 UAH (01.07.2021)



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