STATISTICS: UKRAINE, 1Q2017: GWP collected by local insurers up by 31.69%

In 1Q2017, GWP collected by local insurers' went up by 31.69% y-o-y, to UAH 10,895.90 million, of which UAH 10,263.30 million for the non-life insurance segment (up by 34.82%), while life insurance saw a decrease by 4.31%.

According to the Ukrainian State Commission for Regulation of Financial Services, 94.9% of insurance payments for the life segment during this period were received from individuals and 5.1% - from the legal entities. At the same note, during the analyzing period, the life insurers paid indemnities of UAH 129 million, by 21% more than in 1Q2016.

In 2017 the market concentration trend continued. Thus, at the beginning of 2016 on the local market were active about 306 non-life insurers and 46 life insurance companies, while a year later, their number decreased till 268 non-life and 39 life organizations which maintained their licensed to carry out insurance activities.

Top-20 life insurers in 1Q2017 had a 99.8% of the business compared to 99.2% in 1Q2016.

The Top-20 non-life insurance companies, in January-March 2017, concentrated about 70% of the total GWP, while in the same period of 2016 - 67.8%.

Access www.xprimm.com and download the 1Q2017 Ukraine insurance market statistics.

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

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