Ukraine
Ukraine: 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 2024UKRAINE: In July, MTIBU's regulatory payments increased by 17.5%
(Motor Transport Insurance Bureau of Ukraine) MTIBU paid UAH 44.9 million (~EUR 1.02 million) from the Bureau's Victims Protection Fund in July, which is 17.5% more than in the previous period. At the same time, the number of regulatory payments increased by 12.2% to 695, Forinsurer writes.
18 September 2024UKRAINE: GWP of ARX grew by 14% in 1H
ARX, which is one of the TOP-3 in Ukraine and has been operating on the market for 30 years, generated more than UAH 1.9 billion (~EUR 43.86 million) in non-life insurance in the first half of 2024 (+14% y-o-y). The insurer's paid claims exceeded UAH 856 million (~EUR 19.76 million), Forinsurer reports.
29 August 2024UKRAINE: GWP of the TAS Group rise almost 39% y-o-y from January to July
TAS Group (one of the TOP-3 insurers in Ukraine) collected UAH 2,553.35 million (~EUR 57.47 million) for the period from January to July 2024, which is 38.8% higher y-o-y, Forinsurer wrote.
29 August 2024UKRAINE: in 1H2024, the amount of Green Card paid claims increased by 19% y-o-y
In January-June 2024, the number of claims involving Ukrainian drivers abroad under Green Card policies increased by 12.8% y-o-y and reached 8,000 cases, Forinsurer writes with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine).
21 August 2024UKRAINE: from January to May, GWP of TAS group increased by 45%, and paid claims – by 54% y-o-y
From January to May 2024, total GWP of the TAS group amounted to UAH 1665.72 million (~EUR 37.86 million), which is 45.4% more y-o-y. In the Motor Hull segment, the company collected UAH 317.25 million, or 19.05% of its total GWP and 29.9% more y-o-y, Forinsurer writes.
2 July 2024UKRAINE: in January-May 2024, MTPL market rises 25.8%
In January-May 2024, Ukrainian insurance companies increased MTPL GWP by 25.8% to UAH 3.8 billion (~EUR 86.36 million), while at the same time, premiums on e-policies increased by 39.6% to UAH 3 billion, Forinsurer reports with reference to the МTIBU (Motor (Transport) Insurance Bureau of Ukraine).
2 July 2024UKRAINE: the new MTPL law to bring this market closer to EU standards
On June 17, 2024, the President of Ukraine signed the law “On mandatory insurance of civil liability of owners of land vehicles”, which will ensure further development of this market and bring it closer to EU standards, Forinsurer reports.
25 June 2024UKRAINE: in May MTIBU paid over UAH 50 million from the Victim Protection Fund
In May 2024, MTIBU (Motor Transport Insurance Bureau of Ukraine) made 806 regulatory payments from the Victim Protection Fund for a total amount of UAH 50.1 million (~EUR 1.14 million), which is 24.6% more in number and 25.7% more in amount y-o-y, Forinsurer writes.
17 June 2024UKRAINE: from January to April the MTPL market grows by almost 27% y-o-y
From January to April 2024, the Ukrainian MTPL market grew by 26.7% to UAH 2.9 billion (~EUR 68.41 million), including premiums collected under e-policies, which increased by 41% to UAH 2.32 billion.
11 June 2024UKRAINE: in 1Q GWP of ARX almost reach UAH 1 billion
In the first three months of 2024, GWP of ARX exceeded UAH 946 million (~EUR 22.36 million), which is 21% more y-o-y. At the same time the insurer's paid claims exceeded UAH 431 million (~EUR 10.18 million), Forinsurer reports.
4 June 2024UKRAINE: in 1Q2024 TAS ranks first on the market in terms of paid claims
In 1Q2024, the TAS group, which is one of the top-3 market leaders, increased its sales by 45.7% y-o-y, to UAH 961.21 million (~EUR 22.72 million), Forinsurer writes.
14 May 2024UKRAINE: in 1Q2024, TAS insurance group was leading in the MTPL market
In the first quarter of 2024, TAS Group confirmed its undisputed leadership in the MTPL market - in terms of collected premiums, number of settled claims and amount of payments, Forinsurer writes.
17 April 2024UKRAINE: the credit rating of the TAS group confirmed at uaAA
The rating committee of the "Credit-Rating" agency decided to confirm the long-term credit rating of the TAS insurance group according to the National Rating Scale at uaAA.
9 April 2024STATISTICS: UKRAINE, FY2023: motor insurance remains the leader among insurance classes in terms of premiums
GWP of Ukrainian insurers in 2023 increased by 18.68% to UAH 47 billion (EUR 1.11 billion), as data published by the National Bank show. At that UAH 28.76 billion were received from individuals, UAH 17.2 billion - from legal entities, and UAH 1.06 billion - from reinsurers.
9 April 2024UKRAINE: GWP of TAS group in January-February 2024 reach UAH 670 million
TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 669.95 million (~EUR 16.22 million) in premiums in the first two months of 2024, which is 37.7% y-o-y, Forinsurer reports.
2 April 2024
