The private insurance market collected nearly 1 billion hryvnia in premiums for products covering military risks in January–March 2026, said Serhiy Mykolaychuk, First Deputy Head of the National Bank of Ukraine (NBU), at a press briefing on Monday dedicated to the presentation of the Financial Stability Report.
He emphasized that the majority of these premiums came from comprehensive auto insurance (CASCO), but there are also offerings for businesses, and the government has already launched a mechanism to compensate for losses in high-risk areas and to reimburse insurance premiums in other areas.
As noted in the Report, citing data from the National Association of Insurers of Ukraine, in the first quarter of 2026, premiums collected under risk insurance policies covering military risks accounted for 11% of all risk insurance premiums collected and exceeded the total for the entire previous year.
“While we used to talk a lot about how to build a military risk insurance system practically from scratch, we are now effectively discussing the expansion of existing areas and projects, and in this report we highlight that the range of military insurance products is constantly growing,” explained the first head of the NBU.
According to him, the NBU sees significant potential in the further development and expansion of cooperation with international reinsurers, as well as with international financial institutions operating in this market.
