Ukraine: The reinsurance structure has changed. See what countries-partners have become more preferential for local insurers

In the first quarter of 2016, the total volume of risks ceded in reinsurance by Ukrainian insurance companies have reached to UAH 3.2 billion, comparing to UAH 1.6 billion in the similar period of 2015, according to ForInsurer.

At the same time,UAH 1.17 billion of premiums where ceded in reinsurance to non-resident reinsurers and UAH 2.04 billion to reinsurers resident.

In the reporting period, the structure of outward reinsurance by types of insurance was dominated by Property insurance - 20.3%; CARGO - 18.6%;Financial risks insurance - 17.7%. And, the following types of insurance occupied less than 10% in outward reinsurance portfolio: Insurance from fire risks and risks of natural phenomena - 9.6%; third party liability insurance - 8.5%; insurance of aviation risks - 5.3%; Motor Hull - 5%.

In the first quarter of 2016 the reinsurance structure has suffered significant changes, namely, the share of reinsurance risks ceded by Ukrainian insurers to Russia and Germany decreased in favor of increasing the share of reinsurance risks occupied by India, China, Korea and Malaysia.

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