The volume of the domestic private market for military risk insurance is estimated at UAH 40-60 million, which does not correspond to the scale of the risks involved, according to a meeting of the League of Insurance Organizations of Ukraine (LIOU) on the creation of a military risk insurance system.
As noted on the LIOU website, unlike in 2022, insurance companies have now accumulated statistics on military risk insurance and have experience in concluding insurance contracts, settling claims, and making payments.
Insurers emphasized that even in a situation where a significant number of international reinsurers are refraining from active cooperation, awaiting market stabilization and security guarantees, some Ukrainian insurers have nevertheless gained access to international reinsurance, which has made it possible to increase insurance coverage limits, primarily for small and medium-sized businesses.
However, with the increasing frequency and intensity of shelling, insurers and reinsurers are forced to constantly revise their terms and conditions. For example, reinsurers’ quotes (net rates) increase from 4-5% to 8-10% during certain periods. This shows that insuring against military risks in a country that is already at war is an extremely difficult task. This is why the Ukrainian market is not attractive to international reinsurers, according to the press release.
Modeling various options for creating a military risk insurance system, insurers also noted the importance of public-private partnerships with the involvement of international institutions in this process.
At the same time, they noted that, in their opinion, the availability of state subsidies is not a guarantee of obtaining reinsurance and resolving the issue, and may even complicate it, since the state is highly likely to incur 100% losses, meaning that such insurance ceases to be insurance and becomes financing. Therefore, the main question remains who will pay the compensation and how, since neither the state nor Ukrainian insurers are able to assume the country’s military risks during the war, the LSU notes.
According to market experts, the risks, conditions, and definitions must be understandable and acceptable to foreign reinsurers, and the model must correspond to international analogues (insurance against terrorism (sabotage) risks). In addition, a working group should be set up with the participation of MPs, representatives of the Ministry of Economy, the NBU, international brokers, and insurers providing such insurance to study these issues and present the market’s position at a meeting with international reinsurers and other partners. These proposals will be forwarded to the parliamentary committee on finance, tax, and customs policy.
“International practice in insuring military risks does not have a ready-made solution for Ukraine, so developing one is primarily a task for specialists in the global insurance and reinsurance markets, and this is a real challenge,” emphasized Viktor Berlin, president of the LSU, whose words are quoted in the report.
Unemployment in the eurozone stood at 6.2% in June, according to the European Union’s statistical office. In May, according to the revised data, it was also at 6.2%, not 6.3%, as previously reported. Analysts on average expected unemployment to remain at the previously announced May level, according to Trading Economics.
For comparison, in June 2024, the unemployment rate was 6.4%.
Unemployment was at a record low of 6.2% in October and November 2024, then rose, and in April fell again to the lowest level on record.
In June, the number of unemployed in the euro area decreased by 62 thousand compared to the previous month, to 10.7 million people.
The share of unemployed youth (population under 25) fell to 14.1% from 14.3%.
The lowest unemployment rate among the largest eurozone countries was recorded in Germany (3.7%), and the highest in Spain (10.4%).
In the European Union, unemployment remained at 5.9% in June. In the same month of 2024, it was 6%.
IC “Express Insurance” in June 2025 settled insured events under hull insurance contracts in Greece, Spain, Italy, France, Poland, Croatia, Romania and Belgium for the total amount of UAH 2,439 million, the insurer’s website reports. It is emphasized that all cases, on which payments were made this month, were connected with road accidents.
So in particular, while driving on a high-speed highway in Greece, the car of the company’s client suddenly became uncontrollable – the car had a torn off wheel. The car was pushed onto a jackknife, after which it was dragged for about 100-150 meters. As a result of the collision, the front right part of the car was significantly damaged, including suspension elements and the bottom of the engine. The payout amounted to more than UAH 2 mln.
Ten insured events occurred during parking – in different countries, but under similar circumstances. The total amount of payments on all cases amounted to almost UAH 295 thousand.
Four insured events occurred with parked cars. In each of them the drivers discovered the damage after returning to the car. The total amount of payments on these cases amounted to UAH 105,5 thousand.
Express Insurance” ALC was founded in 2008 with participation of Ukravto Group.
The company is represented in more than 60 points of sale throughout Ukraine and actively expands the network of partner service stations.
The National Bank of Ukraine has fined SK Persha (Kyiv) UAH 2.557 million for violating consumer protection laws for financial services, as defined by the Civil Code of Ukraine and the laws “On Electronic Commerce,” “On Insurance,” and “On Financial Services and Financial Companies.” According to the NBU website, this decision was made by the Committee for Supervision and Regulation of Non-Bank Financial Services Markets on July 28, 2025, following a scheduled inspection of the company.
In addition, the insurer was fined UAH 320,000 for violating the requirements of the Rules for the preparation and submission of reports by participants in the non-bank financial services market to the NBU.
SK Persha received a written warning about the violation of the requirements of: the Law “On Compulsory Insurance of Civil Liability of Owners of Land Vehicles,” the NBU Resolution “On the Regulation of the Activities of Participants in the Non-Bank Financial Services Market, Non-Bank Financial Groups, Participants in the Payment Market, Collection Companies, and Legal Entities Licensed to Provide Cash Collection Services to Banks” (as amended), as well as the provisions on insurance secrecy and the specifics of concluding insurance contracts with consumers.
It is noted that IC Persha is obliged to pay the fines within one month from the date of entry into force of the decision and to eliminate the violations set out in the written warning by November 28, 2025.
Persha Insurance Company has been operating in the Ukrainian insurance market since 2001. The company specializes in motor insurance. The company is a member of the MTIBU, the League of Insurance Organizations of Ukraine, and the National Insurer of International Road Transport Documents (TIR).
Shareholders of PJSC IC “Veles” (Odessa) on August 14 will consider the issue of increasing the authorized capital by 61.5%, or by UAH 24 million, according to the information system of the NCSSM on the general meeting.
According to the information, the increase in the amount of authorized capital is planned to be carried out by increasing the nominal value of shares at the expense of retained earnings (its part) for 2019-2022 in the amount of UAH 23.044 million and part of the formed reserve capital in the amount of UAH 956 thousand.
As reported, on July 17, 2025 the National Bank of Ukraine has applied to PJSC IC “Veles” measures of influence in the form of a written warning due to the fact that the size of the authorized capital of the insurer does not meet the requirements of the law “On Insurance” regarding its minimum size.
At the same time, IC “Veles” has also been subjected to a measure of influence in the form of a written warning due to the non-compliance of business reputation and owners of substantial participation of the insurer with the requirements of the legislation.
The NBU stressed that the insurer is obliged to eliminate the corresponding violation until December 15, 2025.
IC Veles has been operating in the market since 1998. It has 15 licenses for voluntary and compulsory types of insurance. It is a member of the association “Insurance Business”.
The authorized capital amounts to UAH 39 mln.
Spain’s economy grew by 0.7% in the second quarter of 2025 compared to the previous three months, according to preliminary data from the national statistics agency INE.
GDP growth was 2.8% compared to the same period last year.
Analysts on average predicted an increase in the first indicator by 0.6% and the second by 2.5%, according to Trading Economics.
Consumer spending in Spain in April-June increased by 0.8% compared to the previous quarter, business investment – by 2.1%. At the same time, government spending decreased by 0.1%.
Exports of goods and services increased by 1.1%, and imports by 1.7%.
Industrial production increased by 0.8%, the services sector grew by 1.2%, and the construction industry by 1.5%.
In the first quarter, the country’s GDP grew by 0.6% quarter-on-quarter and by 2.8% year-on-year.
INE also reported that retail sales in Spain in June increased by 6.2% compared to the same month last year. This is the highest increase since January 2022.
In particular, sales of food products increased by 5.4%, and non-food products by 6.6%.
http://relocation.com.ua/vvp-ispanii-u-ii-kvartali-zris-na-07/
