Business news from Ukraine

Business news from Ukraine

Commissions for auto liability insurance in Ukraine rose by nearly 59% over the first half of the year

In January–June 2026, Ukrainian insurance companies increased commission payments to insurance intermediaries under mandatory auto liability insurance (OSCPV) policies by 58.6% compared to the same period in 2025—to 2.589 billion UAH, and for comprehensive auto insurance (CASCO) by 26.2%, to 2.330 billion UAH.

According to the website of the National Bank of Ukraine (NBU), commissions paid to intermediaries for “Green Card” insurance decreased by 20.9%, to 642.751 million UAH, while those for property insurance increased by 4.8%, to 516.8 million UAH, while commissions for voluntary medical insurance (VMI) rose by 18.1%, to 423.9 million UAH; commissions for assistance services increased by 36.4%, to 324.5 million UAH; and commissions for financial risk insurance rose by 4.3%, to 368.3 million UAH.

In addition, according to the regulator, expenses for marketing and advertising activities related to MTPL insurance products rose by 4% in the first half of 2026, to 14.5 million UAH; for the “Green Card,” they rose by 1.4%, to 2.3 million UAH; and for comprehensive auto insurance (CASCO)—by 16.8%, to 15.7 million UAH.

At the same time, expenses for maintaining and operating the insurer’s office under MTPL contracts increased significantly—by 61.7%, to 81.8 million UAH; for CASCO—by 11.6%, to 64 million UAH; “Green Card” insurance—decreased by 11.1%, to 12.7 million UAH; property insurance—increased by 36.6%, to 12.6 million UAH; and voluntary medical insurance (VMI)—by 3.1%, to 16.06 million UAH.

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“Zaporizhzhiaelektrotrans” Announced Tender for Accident Insurance

On August 31, the Zaporizhzhia municipal enterprise “Zaporizhzhiaelektrotrans” announced a tender for accident insurance covering the life, health, and ability to work of drivers, operators, and passenger check-in attendants—including ticket inspectors for road and urban electric transportation.

According to the Prozorro electronic government procurement system, the estimated cost of the services is 98,900 UAH.

The deadline for submitting bids is September 8.

 

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“Arsenal Insurance” Paid Record 11.4 Mln UAH for Aston Martin

Insurance Company “Arsenal Insurance” made the largest payment under a comprehensive auto insurance policy in the company’s history—11.4 million UAH—for the total loss of a 2024 Aston Martin.

According to the company’s website, while driving on a wet road, the driver lost control of the vehicle—the car skidded and crashed into a guardrail at high speed.

“Arsenal Insurance” is a non-life insurance company with 100% Ukrainian capital. It has been operating since 2005. It holds a license that allows it to operate in all 18 classes of non-life insurance. It is also the leader in premiums collected in the comprehensive auto insurance (CASCO) market for January–June 2026.

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“Energoatom” Announces Tender for Liability Insurance

On August 19, JSC “NAEK ‘Energoatom’” announced a tender for liability insurance covering damage that may result from emergencies related to the operation of high-risk facilities

According to the Prozorro e-procurement system, the total expected cost of the services is 96,400 UAH.

Bids for participation in the tender will be accepted until August 27.

 

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Veles Insurance Company Plans to Change Its Name After Exiting Insurance Market

Insurance Company “Veles” (Odesa) plans to change its name to PJSC “Veles” and update its business activities, according to information submitted by the insurer to the disclosure system of the National Securities and Stock Market Commission (NSSMC).

According to the information, the company’s shareholders plan to consider this matter at a meeting on September 15, 2026.
The company plans to remove the following from the list of economic activities it is authorized to conduct: insurance, risk assessment, and other auxiliary activities in the field of insurance and pension provision. And to include, in particular, consulting on commercial activities and management; brokerage services in the trade of timber, construction materials, and plumbing

fixtures; brokerage services in the trade of furniture, household goods, iron and other metal products; the leasing and operation of owned or leased real estate; legal services; the activities of head offices; and consulting on commercial activities and management.
As previously reported, the National Bank of Ukraine, by a decision dated July 29, 2026, revoked the company’s license to conduct insurance activities and removed it from the State Register of Financial Institutions based on a submitted application.

Insurance Company “Veles” holds a 0.01% market share in terms of insurance premiums and technical reserves.
It was previously reported that on May 14, 2026, the general meeting of shareholders of PJSC Insurance Company “Veles” approved a resolution on the company’s exit from the market and an exit plan.

According to the company’s financial statements, for the first three months of 2026, insurance premiums totaled 1.790 million UAH, technical reserves amounted to 4.501 million UAH, and no insurance claims were paid.
Insurance Company “Veles” has been operating in the market since 1998. It is a member of the “Insurance Business” association. Its authorized capital was 39 million UAH.

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INGO Insurance Company Increased Insurance Premiums by 22.9% in First Half of Year

INGO Insurance Company (Kyiv) collected 2.934 billion UAH in gross insurance premiums for the January–June 2026 period, which is 22.9% higher than the result for the same period in 2025.

According to the company’s website, growth in the insurance business was driven by several lines of business. Gross premiums from health insurance increased by 35.3% to 664.1 million UAH, and from comprehensive auto insurance (CASCO) by 33.2% to 589.7 million UAH. In accident insurance, premiums rose by 32.2% to 102.1 million UAH. The company recorded the highest growth rates in traditional property insurance: gross premiums increased 2.4-fold to 537.3 million UAH.

The company reports that in the first half of 2026, it actually paid out 2.510 billion UAH in insurance claims to clients, which is 46.4% more than in the same period last year.

The largest volumes of accrued insurance payouts were in health and auto insurance. Under its health insurance programs, “INGO” accrued payouts totaling 386.5 million UAH for the organization and payment of medical services, examinations, and medications. Accrued payments under compulsory motor third-party liability insurance (OSCPV) totaled 328.4 million UAH, under comprehensive auto insurance (CASCO) – 272.3 million UAH, and under property insurance – 151.7 million UAH.

“We view the results of the first half of the year positively, although the volume of insurance claims grew faster than premiums. This trend is explained by several factors: portfolio expansion, an increase in the number of claims, and rising costs of medical services, auto repairs, and property restoration. It is essential for us that the company maintains its ability to service a larger portfolio and fully meet its obligations. At the same time, the business structure remains sufficiently diversified, without excessive dependence on any single type of insurance,” said Andriy Semchenko, Chairman of the Board of ING Insurance.

INGO Insurance Company was founded in 1994; the company ranks among the top three insurers in the country in terms of assets and premiums and holds licenses to provide insurance in 18 classes.
The company has the status of a significant insurer, is a member of Ukrainian and international professional associations, and operates through a network of 25 branches, five offices, and nine service centers in various regions of Ukraine.

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