Market GWP in 1H2019 increased by 16.5% y-o-y and amounted to UAH 27.3 billion (~EUR 918 million), according to the statistical data, published by the regulator.
On September 12, 2019 the Verkhovna Rada of Ukraine adopted a bill on "Amending certain legislative acts of Ukraine, concerning the consolidation of the state functions regulating the financial services market", which provides for separation of functions of the National Commission for the financial services market, Forinsurer reports.
The total number of MTPL e-policies issued in Ukraine between February 7, 2018 (the date on the system introduction) and to September 1, 2019, reached 768.2 thousand, data of MTIBU (Motor (Transport) Insurance Bureau of Ukraine), quoted by Forinsurer, show.
Regulators of the Ukrainian financial market are inviting financial market participants, experts and international partners to discuss a new development strategy until 2025, Forinsurer reports.
According to the quarterly assessment of the MTIBU (Motor Transport Insurance Bureau of Ukraine), in the first half of the current year, 20 MTPL insurers out of 48 bureau members received a high rating, as Forinsurer reports.
The total number of MTPL contracts grew by 3% and GWP by 11.2%, to UAH 2.4 billion (EUR 80.64 million) in the first half of the year, Forinsurer reports based on the MTIBU (Motor (Transport) Insurance Bureau of Ukraine) data.
In the first half year of 2019, ARX and ARX Life (former AXA Insurance and AXA Life) recorded a total net profit of almost UAH 80 million (+58% y-o-y/~EUR 2.68 million), Forinsurer reports.
For the first half of the year, GWP of ARSENAL Insurance increased by 15% y-o-y, Forinsurer reports. The key driver of the company's growth is motor insurance.
From January to May 2019, Ukrainian insurers generated MTPL GWP 12.3% more y-o-y, and the total number of MTPL policies increased by 3.5%, Forinsurer reports with reference to data published by MTIBU (Motor Transport Insurance Bureau of Ukraine).
Tas Insurance Group, one of the TOP-5 insurers of Ukraine, generated GWP of UAH 707.45 million (~EUR 23.64 million) from January to May 2019, which is 34.8% more y-o-y, Forinsurer reports.
In 1Q2019, total market GWP amounted to UAH 13.3 billion (EUR 436 million), which is 14.74% more y-o-y. Growth was recorded both in the non-life (+14%) and life (+23.6%) sectors, however, market shares remained almost unchanged, as data from the National Financial Services Commission show.
GWP of MTPL insurers - members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 13.57% y-o-y at the end of April 2019, amounting to UAH 1.578 billion (~EUR 53.31 million), reported Forinsurer.
The MTIBU (Motor Transport Insurance Bureau of Ukraine) has published the results of Bureau members' financial stability and claim settlement quality; out of 51 companies licensed for MTPL, 16 insurers got the highest evaluation rating in 1Q2019, Forinsurer reports.
For the period from January to March, insurers who are members of MTIBU (Motor Transport Insurance Bureau of Ukraine) generated MTPL GWP of 18.82% more y-o-y. Total GWP amounted to UAH 1.08 billion (~EUR 35.34 million), Forinsurer informed.
The 3rd international conference InsuranceNEXT will be held on June 13, 2019 in Kiev and will be dedicated to the state of the country's insurance market -which is now at the formative stage for transformation into a new digital reality-, the impact of economic development and GDP on insurance penetration in risk management structure, the future of the insurance market and availability of insurance services for citizens and enterprises.
AXA Insurance and AXA Life, who are among the leaders of the Ukrainian market based on 2018 results, took in a net profit of UAH 32 million (~EUR 1.08 million) in the 1st quarter of 2019, based on IFRS, Forinsurer reports.