STATISTICS: UKRAINE, Q1 2018 result: paid claims increased y-o-y by 35%

For the 1st quarter Ukrainian insurers generated UAH 11.6 billion of GWP (+6.63%) and paid UAH 3.17 billion of claims (+35.15%), according to the data, published by the National Commission for financial service market regulation.

The highest growth dynamics is demonstrated by life insurance (+30.63%), non-life growth is much more moderate (+5.15%). Voluntary classes had a very slight growth (+3.88%), the growth of mandatory ones amounted to 15.71%, at that mandatory insurance consists mainly of MTPL and Green Card policies.

Contribution of individuals in total GWP during Q1 amounted to UAH 4 billion (+19.2%), from that UAH 3.24 billion were generated by risk insurance classes and UAH 790 million - by life insurance. Claims, paid to individuals, in total paid claims reached 48.3% (up by 25.9% compared to the 1st quarter last year).

For January-March premiums, produced through intermediaries, jumped by 31% from the last year's figure, and the number of agreements, concluded via intermediaries-residents, increased by 55.6%. Amount of fees to intermediaries increased by 51%. Reinsurance also saw positive dynamics. Total amount of premiums, ceded in reinsurance to reinsurers-residents was 36% more on y-o-y basis.

Access www.xprimm.com and download the 1Q2018 Ukrainian insurance market statistics.

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

IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.

15.11.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all