National Financial Services Committee revoked all insurance licenses of insurer DOMINANTA, member of the committee Denis YASTREB said.
National Financial Services Committee of Ukraine in Q1 received 1,955 complaints from citizens (378 more than in the previous quarter). At that 77.7% of complaints were about insurance legislation non-compliance, as informed by the insurance news portal Forinsurer.
Bulgaria-based EUROINS Insurance Group (EIG) announced is acquiring ERV Ukraine, the travel insurance business of Germany-based ERGO, part of German global reinsurer MUNICH Re. "The two companies have signed purchase agreements. The deal is expected to be finalized after obtaining regulatory approvals".
Ukrainian insurance market in 2017 grew overall by 23.49%, while the non-life sector saw an above average performance, with GWP increasing by 25% in local currency, data published by the National Financial Services Commission of Ukraine show.
PZU Ukraine insurance company (Kyiv) in 2017 posted a net profit of UAH 24.701 million, which is 2.4 times less than in 2016, according to materials for the agenda of a general shareholders' meeting scheduled for April 26. Uncovered loss of the company for the year decreased by 14%, to UAH 215.220 million. Cash and cash equivalents increased by 3.8 times, to UAH 88.717 million.
The shareholders of PJSC European Insurance Alliance (Kyiv) at a meeting on April 24 will consider the issue of closing 11 regional units that are practically not functioning.
20 insurers were delisted from the national register of financial organizations of Ukraine in 2017 (14 - risk insurers and 6 - life insurers), as it appears from the report of the National financial services commission of Ukraine.
AXA Insurance in 2017 collected UAH 1.679 billion of insurance premiums, which is 20% more than a year earlier, while the company's net profit under international standards increased by 2.3 times, to UAH 57 million, according to a press release from the insurer.
European Travel Insurance (ERV, Kyiv) in 2017 increased the number of insured tourists by 31.27% compared to 2016, to 749,100 tourists traveling abroad and 86,600 tourists traveling in Ukraine.
Three new companies have joined the recently founded National Association of Insurers of Ukraine. Thus, currently the association has five members: Universalna and Krayina, (founding members) and the Ukrainian Insurance Group, UNIQA and Globus insurance company, reports Interfax-Ukraine.
The insurance company INGO Ukraine has announced the launch on the Ukrainian market a new product that will allow its customers to get professional help in foreign clinics in the amount of two million euros.
TAS Insurance Group (Kyiv) for the ten months of 2017 collected insurance premiums for UAH 825.82 million, which is 34.9% more than the same indicator for January-October of last year, according to the website of the insurer.
The champions of the Ukrainian insurance market were awarded at the XIth
Edition of All-Ukrainian Competition "Insurance Company of 2017 year",
organized by the Club Banker in partnership with the League of Insurance
Organizations of Ukraine (LIOU) on 14 November 2017 in Kiev.
In 3Q 2017, the GWP on MTPL insurance in Ukraine increased by 7.6%, to UAH 2.8 billion compared to the 3Q2016. According to the local Motor Insurance Bureau, 55 insurers were providing MTPL insurance in Ukraine, Forinsurer said.
The Motor Insurance Bureau of Ukraine began the process of implementing the e-MTPL policy. The transition period of passing from the MTPL policy printed on paper to the electronic form will take 12 months, Forinsurer announced.