STATISTICS: UKRAINE, 1H 2018: 98% of risk insurance GWP accumulated by 100 insurers out of 291

According to the National Financial Services Commission, as of July 1, 2018, the total number of Ukrainian insurers amounted to 291, including 31 life insurers and 260 risk insurers. For the first half year total number of insurers decreased by 9.

Based on the market result, 98% of GWP is accumulated by 100 risk insurers, while the life segment has rather moderate level of competition. GWP, generated by insurers in insurance and reinsurance for 6 months, amounted to UAH 23.4 billion, of which 36.6% was received from individuals and 63.4% from legal entities. Risk insurers' GWP amounted to UAH 21.69 billion (92.6%) and life insurers' GWP was UAH 1.73 billion (7.4%).

Among risk insurers, the leader in terms of growth rate is UNIQA (22.17%) with a risk insurance market share of 5.26%. Second place was taken by CREMEN (with a market share of 5.11%), followed by AXA Insurance (4.22%). In terms of paid claims, the leader is AXA insurance; the paid claims ratio of the company amounted to almost 50%, followed by UNIQA and PZU Ukraine. From the TOP-10 the highest level of paid claims was recorded by ASKA (58.36%).

Ukrainian life insurers generated GWP 39.2% more y-o-y in the first half year, with total premiums increasing to UAH 1.733 billion. 96% of life premiums were received from individuals and 4% from legal entities. Total life paid claims also went up by 46.9% to UAH 391 million.

The leading life insurer in terms of GWP is MET Life with its segment share of almost 25%, followed by UNIQA Life (16.54% market share), and in last place of the TOP-3 is TAS (13.61%). Among the TOP-5 life insurers with a market share of more than 10% each, the most rapid growth rate in the first six months was recorded by ASKA-Life (+131.45%). In terms of paid claims, the leading life insurer is UNIQA-Life, and in terms of the number of insurance events in 1H2018 the leader is MET Life (3,136 of events in the first half year).

Access http://xprimm.com/ and download 1H2018 Ukrainian insurance market statistics.

Find detailed 1H2018 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2018, to be launched on 21 October, in Baden Baden http://www.xprimmevents.com/baden/



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