Insurance company INGO compensated UAH 116.4 million for military risks in Ukraine in January-November 2025, which is almost three times more than last year, according to the insurer’s information.
At the same time, it is noted that in total, over two years, the company compensated more than UAH 162 million in losses caused by hostilities.
The bulk of the compensation consists of damage to property, real estate, motor vehicles, and cargo. The payments were financed mainly from the company’s own capital without the participation of reinsurers. A significant increase in payments falls on the corporate sector, where most large objects are concentrated and, accordingly, higher risks.
The company reports that in most cases the damage is partial. For motor vehicles, typical damage includes broken windows, holes from debris, and body deformation. For residential properties, damage includes windows, doors, roofs, and facades, as well as damage to interior finishes, furniture, and appliances. In commercial real estate, the scale of damage varies significantly: from damaged warehouses and logistics hubs to complex technical facilities, where the consequences depend on the specifics of the enterprise itself.
According to the information, the increase in payments is primarily due to the expansion of the portfolio: enterprises and individuals are insuring more properties. While in 2024, war risk coverage was included for about 150 commercial real estate properties, in 2025, there were already more than 230.
The number of insured cargoes with war risks increased by 1.4 times, and motor vehicles – almost twice. During this time, INGO’s total liability for war risks increased from UAH 12.1 billion to over UAH 26.5 billion. Individuals are also insuring their homes more actively: the number of insured households increased from 4,400 to almost 6,000, and the total liability under contracts rose from UAH 4.34 billion to over UAH 7.7 billion.
In addition, the growth in the volume of payments is influenced not only by the size of the portfolio, but also by the intensity of Russian air attacks and the increase in insurance amounts. Both private owners and companies are increasingly choosing higher limits of protection, especially when it comes to large or capital-intensive objects. INGO notes that the ability to offer such limits in 2025 is ensured, in particular, by working with international reinsurance markets. The company assures that it has objects in its portfolio that are reinsured on the London market, with a total liability of over UAH 2.6 billion.
“We see that international reinsurers, primarily the London market, are working with Ukrainian risks much more confidently than a year ago,” said Andriy Semchenko, chairman of the board of INGO Insurance Company.
“This is the result of the emergence of comprehensive statistics, high-quality underwriting, and real payout cases. The AON and EBRD program has been launched, which supports the insurance of vehicle fleets, rail transport, equipment, and cargo with the option of storage in ports. For businesses, this means protection with a limit of EUR 2 million per case under the AON/EBRD program and $4-5 million in the case of real estate insurance with reinsurance on the London market. There are also opportunities for higher limits, but reinsurers are cautious about concentrating risk on a single object,” he explained.
At a meeting to be held from November 27 to December 4, shareholders of IC “VUSO” (Kyiv) plan to decide on the allocation of UAH 20.013 million of confirmed undistributed profit for 2024 to dividend payments.
As reported by the company in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the remaining profit for 2024 in the amount of UAH 98.811 million is planned to be left undistributed.
The company also reports that the net confirmed undistributed profit for 2024 amounts to UAH 118.824 million.
The agenda of the meeting states that dividends will be paid at a rate of UAH 0.73 per share. Dividends will be paid in full directly to shareholders in accordance with the procedure established by law within six months from the date of the relevant decision by the general meeting of shareholders.
VUSO Insurance Company was founded in 2001. It is a member of the Motor Transport Insurance Bureau of Ukraine and the Ukrainian Financial Services Association, a participant in the Agreement on Direct Settlement of Claims, and a member of the Nuclear Insurance Pool.
In 2024, the company collected UAH 3.462 billion in gross premiums, which is 29.3% more than in 2023, the company’s net premiums increased by 25.55% to UAH 3.105 billion, and net earned premiums increased by 15.83% to UAH 2.737 billion.
In 2024, VUSO Insurance Company paid out UAH 1.414 billion to its clients, which is 45.40% higher than the amount of insurance payments and reimbursements in 2023. Thus, the payout ratio increased by 4.52 percentage points (pp) to 40.85%.
As of January 1, 2025, the insurer’s assets increased by 25.76% to UAH 1.917 billion, equity capital by 22.45% to UAH 755.839 million, liabilities increased by 28.01% to UAH 1.161 billion, cash and cash equivalents increased by 36.09% to UAH 758.730 million.
Due to the economic situation in Ukraine, the shareholders of Veltliner Insurance Company (Kyiv) have decided to merge their business and team of specialists with ASKO Donbass North Insurance Company (Druzhkivka, Donetsk region), the Forinsurer website reports.
It is noted that some of the shareholders of Veltliner Insurance Company became shareholders of PJSC “IC “ASKO DS”, as a result of which the companies will continue to operate under the single brand “ASKO DS”, which will expand the presence of the insurer in the regions throughout Ukraine and improve the quality of service and insurance services.
IC “ASKO-Donbass North” was registered in November 1991. Since 1994, it has been a member of the Motor (Transport) Insurance Bureau of Ukraine, and since 2015 – a member of the Insurance Business Association.
The company’s shareholders are Yevhen Matushevsky with a 20.74% stake, Oleksandr Ivanenko (17.91%), Viktor Spir (9.18%), Yuriy Kostyshyn (9.99%), Andriy Alekseev (4.82%), Ruslan Sheremet (9.99%), Olga Kopot (9.99%), Lyudmila Shopulko (7.34%) and Ruslan Lyudkevych (9.99%).
Veltliner Insurance Company was founded on November 12, 1997. Since 2012, it has been the legal successor of PJSC Insurance House “Evropeyskiy Mir”. It holds 28 licenses for voluntary and compulsory insurance, and offers more than 100 insurance products to its customers.
According to the National Securities and Stock Market Commission, as of the second quarter of 2023, 33.86% of the company is owned by Andriy Alekseev, 27.5% by Ruslan Sheremet, and four other individuals own stakes ranging from 9.1% to 9.9%.
Eurohold Bulgaria AD (Eurohold) and Euroins Insurance Group AD (EIG) have officially filed an arbitration claim against the Romanian government with the International Center for Settlement of Investment Disputes (ICSID) in Washington, DC, for more than EUR 500 million, according to the EIG website.
According to the report, the arbitration proceedings were initiated due to the Romanian state’s failure to comply with its obligations under the bilateral investment treaty between Bulgaria and Romania, including its obligation to ensure fair and equitable treatment for companies. EIG has been one of the largest investors in the Romanian insurance market, with investments of approximately EUR 280 million.
Eurohold and EIG are seeking damages for the actions of the Romanian authorities, which have damaged EIG’s business in Romania and completely destroyed it in the case of Euroins Romania, the statement said.
As reported, on March 17, 2023, the Romanian financial authority ASF revoked the license of Euroins Romania, which led to the bankruptcy of the insurer in June 2023.
October 25, 2023. Eurohold and EIG sent a notice of dispute to the Romanian government requesting an amicable settlement in the Euroins Romania case, but the Romanian government did not use this option.
Eurohold and EIG are being advised in the arbitration proceedings by Pinsent Masons, a leading multinational law firm, and by Gingov, Guginski, Ketchukov and Velichkov (DGKV), one of the largest and most prominent law firms in Bulgaria.
Euroins Insurance Group (EIG) is one of the largest independent insurance groups operating in Central, Eastern and South-Eastern Europe, represented in Ukraine by Euroins Ukraine.
Insurance companies-members of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU) in January-March 2024 concluded 1.7 million contracts of compulsory civil liability insurance of owners of land vehicles (CMTPL), which is 5.02% more than in the same period of 2023.
According to data released on the MTSBU website, 74% or 1.2 million contracts were concluded electronically, 20% more than in January-March last year.
Members of the Bureau for the three months of 2024 increased the collection of insurance payments under CMTPL insurance policies by 26.2% compared to the comparable period of 2023 – up to UAH 2.1 billion, including UAH 1.673 billion (+41.12%) under electronic contracts.
The amount of the average insurance premium under MTPL contracts is UAH 1,262.8 (+20.1% compared to the same period of 2023).
The total amount of accrued insurance indemnities under domestic insurance contracts has increased by 31,16% – up to UAH 1,18 billion, including UAH 237,9 million paid using “europrotocol” (+17,34%).
The Bureau also recorded an increase in the number of settled claims for insurance compensation by 17.95% – up to 36.6 thousand, including data on the use of “Europrotocol” -13,206 thousand (+3.94%).
The average amount of insurance indemnity for claims of victims in Q1 2024 is UAH 32,270 thousand, which is by 11,2% more than in the same period of 2023 (UAH 29,019 thousand).
The ITSBU is the only association of insurers in Ukraine, carrying out compulsory insurance of civil liability of owners of inland motor vehicles for damage caused to third parties. 33 insurance companies are members of the Bureau.
On September 7, the National Bank of Ukraine (NBU) revoked the licenses of Gestalt Group Insurance Company and INTO Insurance Company (both based in Kyiv) to conduct financial services business.
According to the regulator’s website, the decision was made with respect to Gestalt Group due to the fact that the insurer’s ownership structure does not meet the requirements of Ukrainian legislation, and with respect to INTO for failure to comply with the National Bank’s decisions to eliminate violations of license conditions.
According to the latest financial statements submitted by Gestalt Group Insurance Company, as of June 30, 2023, the company’s insurance premiums amounted to UAH 5,971 million, assets amounted to UAH 81,642 million, and insurance reserves amounted to UAH 1,952 million. The company’s market share in terms of insurance premiums amounted to 0.03%.
According to the latest reports submitted by INTO Insurance Company, the volume of insurance premiums amounted to UAH 28.767 million, the value of assets – UAH 139.178 million, insurance reserves – UAH 18.028 million. The company’s market share in terms of insurance premiums amounted to -0.2%.
The NBU emphasizes that the decisions come into force on September 8. In the event of license revocation, a financial services representative must fulfill its obligations under contracts with clients for the type of financial services specified in the decision, concluded before the date of entry into force of the decision to revoke the license.
