STATISTICS: UKRAINE, 1H 2018: life insurance demonstrates significant growth by more than 39%

The Ukrainian insurance market generated GWP in the amount of UAH 23.42 billion (EUR 766.33 million) in the first half year, 10.38% more than a year ago. Likewise, GWP of life insurers increased by 39.2% from UAH 1.24 billion (EUR 41.8 million) to UAH 1.73 billion (EUR 56.69 million), according to the National Financial Services Commission.

The share of premiums from individuals amounted to 96% of the life sector and accordingly premiums from legal entities reached 4%. Total paid claims in life sector also went up by 46.8% to UAH 390 million (EUR 12.77 million). The share of life sector in total market paid claims increased from 5.87% to 7.4%. The leader of the life market is MET LIFE (premiums' growth rate 28.6%), 2nd place in terms of GWP in the life sector is UNIQA LIFE, and 3rd goes to TAS. The non-life sector, with almost 93% of market share, recorded a rather moderate premium growth trend (8.58%) in the first half year. At the same time, paid claims of non-life insurance jumped by almost 27%, mainly due to growth of paid claims in voluntary classes. The most dynamic growth was recorded by accident insurance (+61.13%) and civil liability insurance (+38.33%).

The retail insurance segment exceeded the result of corporate insurance in the first 6 months. Premiums from individuals reached UAH 8.6 billion, and from legal entities - UAH 7.7 billion. Consequently, paid claims to individuals went up by 25.2% and by 29.5% to legal entities.

According to the member of the National Financial Services Commission, Aleksander ZALETOV, in the first half year the market regulator continued to clean the market of unreliable companies and enterprises (6 insurers left the market). At the same time, despite the decrease in the number of insurers, total insurance assets went up by UAH 2.1 billion (+3.7%) and insurance reserves by 15.3%.

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/



Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

VIG to make acquisitions in Ukraine

Austrian insurer VIG intends to become a Top3 insurer in the Ukrainian insurance market, and "is mulling the possibility of acquiring another risk insurance company", wrote the local business portal open4business.com.ua.

2018-09-18

ON THE MOVE

Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.

11.10.2018

TOP EVENT

Five new XPRIMM insurance reports to be launched in Baden Baden

Five new titles will be available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.

11.10.2018

Croatian Insurance Days 2018 - Registration opened online

The 2018 edition of the "Croatian Insurance Days" will be held in Opatija, Croatia, on November 7-9, 2018. Organized by the Croatian Insurance Bureau, with the support of the Croatian Ministry of Finance, the conference will have, as usual, a rich and very informative program, also providing for extended networking opportunities.

11.10.2018

ICAR Forum 2018: Main conclusions

The 15th edition of ICAR - The International Catastrophic Risks Forum, taking place in Bucharest, Romania, on 9 October, touches issues of paramount concern.

09.10.2018

The 10th International Istanbul Insurance Conference started today

In emerging markets like Turkey, there can be a significant difference between insured and total insurable losses.
Focusing on closing the protection gap, the 10th International Istanbul Insurance Conference gathers in Istanbul, between the 4th and the 5th of October 2018, well-known speakers from Turkish and the global insurance & reinsurance markets.

04.10.2018

photodune-3834701-laughing-girl-xs

LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.

20.09.2018

See all