Eastern Europe, bordering the Black Sea, between Poland, Romania, and Moldova in the west and Russia in the east

temperate continental; Mediterranean only on the southern Crimean coast; precipitation disproportionately distributed, highest in west and north, lesser in east and southeast; winters vary from cool along the Black Sea to cold farther inland; summers are warm across the greater part of the country, hot in the south

Natural hazards:

Currency: Hryvnia (UAH)
1 EUR = 19.232908 Hryvnia - UAH (December 31st, 2014)
1 EUR = 11.041530 Hryvnia - UAH (December 31st, 2013)
1 EUR = 10.537172 Hryvnia - UAH (December 31st, 2012)
1 EUR = 10.298053 Hryvnia - UAH (December 31st, 2011)
1 EUR = 10.573138 Hryvnia - UAH (December 31st, 2010)

State Commission for Regulation of Financial Services of Ukraine
National Bank of Ukraine
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VIG took part in international conference "Export-import relations Ukraine-EU 2016: preparedness of government and business"

Vienna Insurance Group represented by the Chairman of the Board of Insurance Company Globus Mr.Volodymyr Hanchak took part in international forum "Export-import relations Ukraine-EU 2016: readiness of government and business". The Forum was organized by Ukrainian Chamber of Commerce and Industry supported by EU government authorities, Cabinet of Ministers of Ukraine, governmental authorities, public and business organizations, as well as the biggest foreign investors to Ukrainian economy.

PZU-UKRAINE plans to boost charter capital by 80.74%

Shareholders in PZU Ukraine insurance company (Kyiv) at a general meeting on November 11, 2015 decided to increase the company's charter capital by 80.74% via an additional issue of 1.45 million shares worth UAH 14.496 million. The company said that the face value of each share is UAH 10.

UKRAINE: LIOU, German Embassy publish revised list of insurers for tourism in EU/Schengen zone

The League of Insurance Organizations of Ukraine (LIOU), jointly with the German Embassy to Ukraine which is the coordinator of relations between consulates and visa centers of the EU/Schengen zone states and representatives of the insurance market pursuant to Article 48 of the EU Visa Code, has published a list of Ukrainian insurance companies that can insure tourists travelling to the EU/Schengen zone.

Is the Ukrainian insurance market "losing" life business?

In the first half of 2015, the Ukrainian life insurance segment decreased by 37.7% in European currency, to EUR 37.84 million. The critical situation born by the numerous local banks bankruptcies led to a sharp decrease in the endowment insurance products' popularity, with a sharp decline of the new business numbers. A strong wave of policies' surrenders puts supplementary pressure of the future of the life insurance business in the country.

STATISTICS: UKRAINE, 1H2015: Top 20 non-life insurers outperformed the market average growth rate

In the first half of 2015, GWP collected by local insurers totaled UAH 13.4 billion, up by 21.4% y-o-y, of which UAH 12.5 billion were collected on non-life insurance segment (up by 17.6%). Life insurance GWP amounted to UAH 939 million (down by 3.9%). However, considering the over 50% y-o-y inflation rate recorded in Ukraine, in real terms, as well as denominated in European currency, the results show a strong downturn trend.

UKRAINE: Norm of OSAGO bill on calculating guarantee fees to MTIBU funds at NBU rate will lead to collapse in market

The establishment of unreasonable requirements regarding the calculation of basic insurers' contributions to the central insurance reserve funds of the MTIBU at the official rate of the National Bank of Ukraine in the conditions of the national currency instability could lead to significant negative consequences, including the deterioration of the financial condition of insurers, the non-fulfillment of their commitments, and the collapse of the OSAGO market.