In January–June 2026, Ukrainian insurance companies paid out UAH 176.5 million in claims to clients for war risks, including UAH 129.4 million in the second quarter compared to UAH 47.1 million in the first quarter, according to the “Review of the War Insurance Market for the First Half of 2026,” prepared by the National Association of Insurers of Ukraine (NAIU).
The report specifies that the data published on the NAIU website is based on reports from 17 insurance companies participating in the PRIMA information exchange.
It is noted that the product line also expanded significantly during this period. For the first time, military insurance contracts were concluded in the “Liability” and “Financial Risks” segments. Life insurers are increasingly integrating war risks into savings plans, with the portfolio of such new policies exceeding 5,000.
In addition, coverage remains flexible in the logistics sector. For example, the insurer’s liability applies not only during transportation but also during periods of temporary storage or transshipment lasting up to 45 days, which is critically important for companies engaged in foreign trade.
“A notable achievement has been insurers’ willingness to work with renewable energy facilities—solar and wind power plants, as well as battery energy storage systems (BESS). This is a direct contribution by the insurance market to the stability of the country’s power grid,” the statement reads.
It is also emphasized that the state compensation program, under which businesses pay only 1% of the insurance premium, remains the key driver of insurance accessibility. As a result, the number of corporate contracts with individual risk assessments rose from 99 at the end of the first quarter to 228 by the end of June. For large businesses, the program has effectively unlocked access to insurance coverage.
According to the information, in this review, PRIMA members disclosed for the first time the figure for reserves set aside for reported but not yet paid claims. It amounts to approximately 977 million UAH, of which 898 million UAH is attributable to damaged property. These are funds that insurers have already set aside for future compensation payments related to incidents that have already occurred.
“Ukrainian insurance companies play a key role in this system. They are the ones who underwrite each property, assess risk on-site, structure coverage, support the client, and settle claims. Working with large corporate properties effectively precludes one-size-fits-all solutions, and half of the deals in the property segment require a detailed assessment of risks and an evaluation of the specific location,” the statement reads.
At the same time, it is noted that the scale of the risks requires international support, which is being strengthened. The consolidated limit of the London-based Lloyd’s market nearly doubled over the quarter, from approximately $350 million to $600 million. Significant support is provided by institutional partners: the U.S. International Development Finance Corporation (DFC), with a capacity of over $125 million, and the European Bank for Reconstruction and Development (EBRD), with a limit of about $110 million. The increase in these limits demonstrates the global market’s confidence in the quality of Ukrainian underwriting, the review concludes.
