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.
On April 8, the National Anti-Corruption Bureau of Ukraine (NABU) announced its intention to enter into a contract with Insurance Company “Ultra Alliance” (Kyiv) for the procurement of voluntary motor vehicle insurance services.
According to a notice in the Prozorro electronic public procurement system, Ultra Alliance Insurance Company offered a comprehensive insurance price of 3.812 million UAH against an expected cost of 5.824 million UAH.
Insurance Company “Kraina” also participated in the tender with a bid of 4.987 million UAH.
Insurance Company “Ultra Alliance” has been providing insurance services since 2004.
According to the NBU, the company ranks 28th among Ukraine’s non-life insurers (47) in terms of premiums collected in 2025.
The Cabinet of Ministers has introduced a military risk insurance mechanism for farmers, which provides for reimbursement from the budget of up to 60% of the insurance premium paid, according to Taras Vysotsky, First Deputy Minister of Economy, Environment, and Agriculture.
“Access to agricultural insurance in wartime is becoming not just a financial tool, but a key condition for economic stability. That is why the government has introduced a new mechanism: the state reimburses up to 60% of the insurance premium for farmers in frontline communities and up to 45% for other producers,” he wrote on his Facebook page following a meeting with representatives of the agricultural sector.
The Deputy Minister noted that agricultural processing companies are currently facing not only military threats but also challenging weather conditions, such as drought or spring frosts. Due to this combination of factors, the cost of insurance services in the sector remains high.
Vysotsky noted that the Ministry of Economy’s strategic goal is to create a market-oriented system that will combine private insurance, reinsurance, and state support. The ministry is currently consulting with businesses to determine acceptable insurance rates, remove barriers to access to financing, and compile a list of risks that remain uninsured.
“We are ready to carefully consider and gradually implement the solutions and proposals developed by the business community. It is precisely this kind of dialogue that allows us to shape state policy based on the real needs of the economy,” the deputy minister concluded.
As reported, in March 2026, the Cabinet of Ministers adopted Resolution No. 1541, which expanded the military risk insurance program. The maximum amount of insurance premium compensation for businesses was increased from UAH 1 million to UAH 3 million, and the deadline for submitting a claim for payment was reduced to 31 days after the contract is signed. For enterprises operating in frontline regions, compensation for damaged property is available up to UAH 30 million.
The 2026 state budget allocates over UAH 2 billion to support the agricultural sector and related insurance programs, of which UAH 1.8 billion is earmarked to compensate for the cost of Ukrainian-made agricultural machinery under the “Made in Ukraine” policy, as well as separate allocations for partial compensation of insurance premiums for winter crop producers and agricultural processors.
According to Fixygen, JSC “NAEK ”Energoatom” announced a tender on March 20 for liability insurance for the chairman and members of the supervisory board. As reported in the Prozorro e-procurement system, the expected cost of the services is 20 million UAH.
Applications to participate in the tender are being accepted until 4:00 PM on April 7
The winner of a similar tender a year earlier was IC “Coloneid Ukraine”
