Ukraine: GWP on MTPL insurance up by 7.6%, while reported claims grew by 26.8%

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.

In the reporting period, the number of concluded MTPL agreements has increased by 4.8% to 5.6 million units. On the same note, the number of MTPL agreements, which have been terminated before the expiration date increased to 33,275 units, for which over UAH 13.2 millions of insurance premiums were returned to customers.

The average MTPL premium was of UAH 491.

In January- September 2017, the volume of reported claims went up by 26.8% to UAH 1.5 billion, including UAH 65.3 thousands for damages caused to health and life and UAH 1.4 billion for property damages. The total amount of transferred funds as insurance payments totaled UAH 1,4 billion, including UAH 45.5 million for damages caused for life and health and UAH 1.3 billion for property damages.

About UAH 173.3 million, up to 62.7% have been paid for accidents settled by amicable report, was noted in the Motor Insurance Bureau report.

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