Ukrainian insurance companies specializing in life insurance collected 3.6 billion UAH in insurance premiums in January–July 2026, which is 11.7% higher than the figures for the same period in 2025.
According to the website of the National Association of Insurers of Ukraine (NASU), 570.7 million UAH in insurance premiums were collected in July—the highest figure so far this year—indicating that the public is willing to invest in their own future even amid macroeconomic uncertainty.
Furthermore, according to NASU, the active expansion of client portfolios through new contracts is an important indicator of growth. Specifically, first-year premiums increased by nearly 13% compared to June’s figures.
NASU also notes that over the first seven months of 2026, payouts made by life insurers rose by 39% compared to the same period in 2025. This trend is entirely predictable, as companies are now systematically and consistently returning funds under long-term contracts concluded as far back as 15–20 years ago.
NASU also reports that for the first seven months of 2026, the ranking of life insurers by premiums written is as follows: MetLife Insurance Company – 1.887 billion UAH, TAS Insurance Company – 617.7 million UAH, Grave Life – 373.9 million UAH, “PZU Life” – 241.6 million UAH, “Arks Life” – 213.3 million UAH.
Ranking by payouts: “MetLife” – 427.1 million UAH; TAS Insurance Company – 322.1 million UAH; “Grave Ukraine Life Insurance” – 284.3 million UAH; “Unica Life” – 108.7 million UAH; PZU Life – 53.5 million UAH.
As previously reported, as of August 1, 2026, there were 10 life insurance companies operating in Ukraine.
The portfolio of new life insurance contracts written by companies in Ukraine for January–June 2026 exceeded last year’s results by 5%, generating a total of 664.7 million UAH, according to the website of the National Association of Insurers of Ukraine (NASU).
“A key feature of this period was the positive trend in stable cash flows. Ukrainians continue to show active interest in savings-oriented financial solutions,” the report notes.
In addition, regular premiums paid by customers under existing long-term policies increased by 12%. At the same time, significant progress was observed in the single-premium segment, which grew by 20%.
NASU also notes that during the reporting period, life insurance payouts rose by 33%, surpassing the 1 billion UAH mark. Of this amount, 66% consisted of payouts upon policy maturity (payouts for the “survivorship” risk), which is 41% more than a year earlier.
“This surge is entirely predictable: financial institutions are consistently fulfilling their commitments under traditional agreements concluded more than two decades ago. Upon receiving their preserved capital along with accumulated investment income, Ukrainians often reinvest this money in new insurance products,” the report states.
NASU also reports that for the first half of 2026, the ranking of life insurers by premiums collected is as follows: MetLife Insurance Company – 1.599 billion UAH (1.436 billion UAH); TAS Insurance Company – 525.7 million UAH (431.4 million UAH); “Grave Life” – 308.7 million UAH (283 million UAH); “PZU Life” – 205.3 million UAH (189.2 million UAH); “Arks Life” – 175.5 million UAH (168.9 million UAH).
Ranking by payouts: “MetLife” – 358 million UAH; TAS Insurance Company – 267.5 million UAH; “Grave Ukraine Life Insurance” – 240.3 million UAH; PZU Life – 43.1 million UAH; “Arks Life” – 37.3 million UAH.
As previously reported, as of July 1, 2026, there were 10 life insurance companies operating in Ukraine.
The volume of funds raised under new life insurance contracts in January–April 2026 increased by 4.3% compared to the same period in 2025, reaching UAH 454.8 million, according to the National Association of Insurers of Ukraine (NAIU), citing operational data from the PRIMA project.
“Citizens continue to show active interest in savings instruments, as evidenced by this growth,” the statement noted.
Particular attention should be paid to the stable trend in recurring premiums, which represent regular payments under long-term savings programs. This indicator remains at +13%. In addition, there has been a significant increase in revenue from single premiums (where the entire amount of insurance coverage is paid in a single lump sum at the time the contract is signed), with growth reaching 20.1%.
The total volume of insurance claims increased by 31%, amounting to UAH 699.6 million. The lion’s share comes from “survivorship” risk payouts, which showed a 37% increase.
“This is an entirely natural process, as the Ukrainian life insurance market has reached the stage of maturing classic 20-year contracts. Customers who signed contracts a decade ago are now receiving their accumulated funds along with accrued investment income, and these funds, in turn, are partially reinvested in new insurance products,” the report explains.
In the life insurance market, based on premiums collected for the specified period in 2026, MetLife Insurance Company continues to hold the top position with UAH 1.057 billion, TAS Insurance Company – UAH 339.3 million, Grave Life – UAH 198.9 million, PZU Life – UAH 138.5 million, ARKS Life – UAH 126.2 million.
Credit rating agency Fitch Ratings expects consolidation in the global life insurance sector to continue, although the pace and structure of transactions will vary by region, according to the Reinsurance News website
Fitch Ratings explains that the flow of deals is driven by insurers’ ongoing efforts to strengthen balance sheets, improve operational efficiency, and allocate capital to acquisitions that can enhance long-term value.
“Although geopolitical tensions, fluctuations in economic conditions, financing constraints, and heightened regulatory oversight in certain markets may affect pricing and transaction timelines, Fitch Ratings does not expect these factors to significantly disrupt the broad trend toward consolidation,” the report notes.
It is also noted that, according to Fitch, consolidation structures vary significantly across different jurisdictions. In Germany, activity is primarily focused on the acquisition of closed or legacy portfolios, with a small number of specialized run-off platforms actively operating, and approximately €25 billion in portfolios expected to become available for transfer in 2026.
In the UK, the market is increasingly shifting toward pension risk transfer (PRT), where defined-benefit pension plan liabilities and related assets are transferred to insurers. Fitch expects the volume of PRTs in the UK to grow to £45–50 billion in 2026, up from £38 billion in 2025, driven by sustained demand from pension schemes seeking to reduce risks, and insurers’ interest in scaling up these operations.
A similar picture is observed in the Netherlands, where approximately €10 billion in pension liabilities is expected to be transferred in 2026. In contrast, in markets such as France and several other European jurisdictions, PRT activity is limited due to structural differences in pension systems.
In the U.S., consolidation is characterized by a combination of reinsurance with intensive asset utilization and active mergers and acquisitions, including block transfers and full-scale company sales, whereas in the Asia-Pacific region, consolidation tends to be more selective, and Japan lacks a national PRT system.
Fitch notes that its assessment of insurers involved in consolidation takes into account how they manage growth while controlling the impact of investment, counterparty, regulatory, management, and operational risks.
The number of insurance companies in Ukraine decreased by one in July 2025, and as of the end of the month, there were 51 risk insurers operating on the market, 10 life insurance companies, and one company with special status, the Export Credit Agency (ECA). According to the website of the National Bank of Ukraine (NBU), the number of banks remained unchanged at 60. The number of insurance and/or reinsurance brokers also remained unchanged at 44.
Overall, the number of participants in the country’s non-bank financial market decreased to 799 last month from 812 at the beginning of the month.
The NBU reports that in July it revoked the licenses of one financial company at the applicant’s initiative and forcibly revoked the licenses of eight financial companies, one risk insurer, and three credit unions.
As of August 1, 2025, there were also 423 financial companies (previously 432), 90 credit unions (previously 93), 105 pawnshops, one leasing company, and 74 collection companies (the number remained unchanged) operating in the non-bank financial services market.
The number of banking groups increased by one to 16, non-banking financial groups remained at 40, payment systems created by residents, including state-owned ones, numbered 15, and 10 international ones (previously 12), payment institutions – 17 (previously 18), financial institutions authorized to provide payment services – 12, one electronic money issuer, and one postal operator.
Other entities operating in the payment market include 48 commercial agents and 31 payment service technology operators (the number has not changed).
In July, the National Bank received 280 requests from market participants regarding registration and licensing activities.
The number of requests concerning financial companies, pawnshops, and leasing companies amounted to 149, insurers – 54, credit unions and collection companies – 32, banks – 45.
In 2024, Ukrainian insurance companies specializing in non-life insurance increased their premiums by 12%, and in the life insurance segment by 14%.
This was announced by Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Oliynyk at this year’s first meeting of the central bank’s management with insurance market participants, according to the NBU’s Facebook page.
According to him, the growth is taking place both in the segment of individuals and legal entities. Insurance payments have increased significantly – by 25%, which is 39% in terms of premiums (or 4 percentage points more than in 2023).
Oliynyk also said that in general, the insurance market shrank by 36% in 2024, as 36 companies left the market. Most of them left the market voluntarily by liquidating their insurance portfolio.
At the beginning of the year, 65 insurers remained in the market, including 10 from the life insurance segment. More than 95% of them are solvent insurers in both the non-life and life insurance markets, he emphasized.
According to the NBU Deputy Governor, the market recovery continues, as evidenced by the increase in the share of eligible assets – from 88% to 92% – and the alignment of corporate governance systems with legal requirements by most insurers. Companies also continue to take steps to implement and maintain an effective internal control system.
“Over the past year, insurers have brought their activities in line with the requirements of the new legislation, primarily in terms of solvency, information disclosure and proper functioning of the management system. The insurance market continues to develop qualitatively, complying with all legal requirements,” he commented.
According to the report, the meeting also addressed the introduction of a self-assessment questionnaire, which will become the basis for further research and assessment of insurers, further improvement of reporting, in particular monthly reporting on certain indicators, as well as the creation and filling of a register of insurance intermediaries and the professional suitability of their training, joining the efforts of insurance organizations, which will help consolidate market positions and improve communication with the regulator.
