UKRAINE: only 20% of insurers meet the new National financial services committee of Ukraine requirements for assets quality

According to the National financial services committee of Ukraine, as the moment only 20% of the local insurers fully meet obligatory requirements to capital adequacy and solvency, liquidity and profitability, asset quality and riskiness of insurers' operations.

At that, as the regulator informed, about 5 insurers (2 life insurers and 3 non-life insurers) as of December 31 may face a problem of insufficient value of total assets.

As of 30.09.2018 total assets of insurers amounted to UAH 59.5 billion (4.7% more y-o-y). Total volume of assets, allowed for insurance reserves, was UAH 38.3 billion, of which UAH 24.8 billion were allocated for insurance reserves. The amount of assets, allowed to be invested in shares, decreased by 16.4% to UAH 5.95 billion; the amount of assets, allowed for rights of claims to reinsurers, increased by 25.2% to UAH 4.7 billion, at that amount of assets, allowed for rights of claims to non-resident reinsurers, went up by 35.7% to UAH 3.2 billion, and the amount of assets, allowed for keeping as funds on current accounts, increased by 11% to UAH 3 billion, based on the data of the National financial services committee of Ukraine.

*EUR 1 = UAH 33.1287 (30.09.2018)

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