On April 18, Motor Sich JSC (Zaporizhzhia) canceled a tender for voluntary liability insurance for members of the supervisory board due to a lack of bids. According to the Prozorro e-procurement system, the tender was announced on April 8, with the expected cost of the services amounting to UAH 1.8 million.
Motor Sich is a leading Ukrainian enterprise that designs, manufactures, and repairs aircraft engines for airplanes and helicopters, as well as gas turbine units. It is a strategic engineering facility. In 2022, the company came under state control following a seizure of shares related to an attempted sale to Chinese investors.
On April 20, PJSC Ukrgazvydobuvannya (Kyiv) announced its intention to enter into an agreement with Guardian Insurance Company for risk insurance services related to the commercial development of oil and gas fields. According to the Prozorro electronic public procurement system, the expected cost of the services was 548,800 UAH, and the company’s bid was 501,499 UAH.
The insurance company “VUSO” also participated in the tender with a bid that was 1 hryvnia higher.
GAS, Guardian, INSURANCE, INSURANCE COMPANY, OIL, RISK, UKRGAZVYDOBUVANNYA
On April 16, the municipal enterprise “Vinnytsia Transport Company” announced a tender for the procurement of liability insurance services for carriers covering harm caused to the life and health of passengers and damage to luggage during transportation by road (with more than 18 passengers) and on urban electric transport.
According to a notice on the Prozorro e-procurement system, the estimated cost of the services is 3.109 million UAH.
The deadline for submitting bids is April 24.
On April 7, PJSC National Energy Company (NEC) Ukrenergo announced its intention to conclude contracts with Ultra Alliance Insurance Company for property insurance of Lviv Insulator Company LLC (Lot 1) and third-party liability insurance (Lot 2).
According to the Prozorro electronic public procurement system, the estimated cost of services in Lot 1 was UAH 514,200, while the company’s bid was UAH 366,400. Also participating in this lot were Transmagistral Insurance Company—430,100 UAH—and VUSO Insurance Company—513,600 UAH.
The bid for Lot 2 was 321,400 UAH; the bids from IC “Ultra Alliance” were 147,800 UAH, IC “Transmagistral” – 245,100 UAH, and IC “VUSO” – 319,300 UAH.
INSURANCE, Lviv Insulator Company, UKRENERGO, Ultra Alliance
On April 9, the Security Police Department in Chernivtsi Oblast announced its intention to enter into a voluntary insurance contract with Guardian Insurance Company (Kyiv) to cover financial risks associated with security contracts.
According to a notice in the Prozorro electronic public procurement system, the price proposal from the sole bidder—Guardian Insurance Company—was 600,000 UAH, compared to the expected cost of 630,000 UAH.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020, it has held full membership status in the Motor Transport Insurance Bureau of Ukraine (MTIBU) and is authorized to issue “Green Card” policies.
Insurers continue to offer coverage for war risks to an increasing number of businesses and individuals, although this line of business remains unprofitable with a combined ratio of 111.11%, according to the “2025 Insurance Market Review” prepared by the National Association of Insurers of Ukraine (NAIU).
In addition, the report notes that insurance against war risks, in particular, led to a 30% increase in insurance premiums in the property line of business, which is directly linked to public demand for real estate insurance against the consequences of war. At the same time, 75% of clients are legal entities. Ukrainian businesses are actively seeking protection and finding it by engaging foreign reinsurance capacity, particularly from global giants such as Lloyd’s of London.
According to the information, 304 insurance companies have left the domestic market since 2016.
“It was a painful but critically necessary cleansing process. The industry underwent a digital revolution, weathered stricter solvency requirements in 2019, survived a massive ‘Split’ in 2020, and implemented Ukraine’s new, progressive Law ‘On Insurance.’ And all of this took place against the backdrop of Russia’s full-scale invasion and unprecedented security uncertainty,” the report notes.
As of the end of 2025, 47 companies operate in the non-life insurance sector, while only 10 remain in life insurance.
“Today, this is a highly concentrated and fiercely competitive environment, where the top ten companies account for 74.3% of the entire non-life market. In the life insurance segment, the situation is even more telling, and the entire market consists of these 10 players, with a single insurer accounting for nearly 50% of the industry,” the report notes.
It is also emphasized that despite the war and extremely challenging operating conditions, companies have demonstrated impressive resilience. The net financial result for both segments totaled UAH 6.8 billion, and only nine insurers ended the year with losses. At the same time, the market as a whole remains well-capitalized, as eligible assets for meeting solvency requirements amounted to UAH 86.2 billion, which is 31% higher than the figures for 2024.
“The robust operational health of the risk sector is best evidenced by the figures, where the portfolio loss ratio stands at 49.1%, the combined loss ratio has fallen below the psychological threshold to 97%, and operational efficiency has remained at a high level of 88.6%.
We can only wholeheartedly congratulate our non-life market on these results,” the report emphasizes.
