Ukrainian insurance companies in January-June 2019 collected net premiums in the amount of UAH 20.121 billion, which is 20.1% more than in January-June 2018, according to the website of the National Commission for Financial Service Markets Regulation.
According to the regulator, the volume of gross insurance premiums collected by insurers for this period amounted to UAH 27.291 billion (16.5% more than in 2018).
The commission notes that the increase in gross insurance premiums was recorded in almost all types of insurance: in voluntary car insurance (KASKO), compulsory vehicle owners’ civil liability (OSAGO) and Green Card by UAH 1.26 billion, or by 21.1%, medical insurance by UAH 711.3 million, or by 42.5%, insurance against fire risks and natural hazards by UAH 662.1 million, or 31.2%, property insurance by UAH 422.5 million, or by 13.4%, life insurance by UAH 358 million, or 20.7%, medical expenses insurance by UAH 354.2 million, or 65.3%, and aviation insurance by UAH 164 million or 63.8%.
The share of net insurance premiums in gross insurance premiums for the first six months of 2019 was 73.7%, which is 2.2 percentage points more compared to the same period of 2018.
In January-June 2019, insurers paid UAH 6.527 billion in net payments in claims, which is 11.3% more than a year ago. The level of net payments fell from 35% to 32.4%.
According to the regulator, gross payments in claims grew by 49.8%, to UAH 6.668 billion. The level of payments fell from 25.9% to 24.4%.
A high level of gross payments in claims registered in car insurance (11.1% up), medical insurance (29.1% up) and medical expenses insurance (25%).
INGO Ukraine insurance company (Kyiv) in January-June 2019 collected UAH 750 million in insurance premiums, which is 35% more than a year ago, the company’s press service has reported.
According to the company, premiums for vehicle insurance amounted to UAH 388 million, for property and liability – more than UAH 157 million, for personal types of insurance – more than UAH 165 million, and for special types – more than UAH 37 million.
The company showed the highest dynamics in premiums under voluntary fire and natural disaster insurance policies (a rise of 138%), voluntary medical insurance (a rise of 85%), voluntary and compulsory motor liability insurance (a rise of 64%) and voluntary property insurance (a rise of 63%).
As of June 30, 2019, the size of acceptable assets, taking into account the criteria of liquidity, profitability and quality, amounted to UAH 1.937 million (a rise of 12%). The actual solvency margin reached UAH 593.5 million, which exceeds the standard indicator by UAH 368.7 million.
In January-June 2019, the company paid UAH 311.5 million (a rise of 18.4%) as its obligations to customers and settled more than 66,000 insurance events. Formed reserves for payments by June 30 amounted to UAH 202.4 million.
Over the period, the company concluded more than 132,000 insurance contracts, of which more than 101,000 with individuals and more than 31,000 with legal entities.
INGO Ukraine has 25 years of experience in the market. Since 2017, the Ukrainian business group DCH of Oleksandr Yaroslavsky has been the main shareholder of the company.
The company has 28 licenses for various types of compulsory and voluntary insurance, provides insurance services to corporate and retail customers.
Ukrainian insurance companies in January-March 2019 collected net premiums in the amount of UAH 9.673 billion, which is 19.1% more than in January-March 2018, according to the website of the National Commission for Financial Service Markets Regulation.
According to the regulator, the volume of gross insurance premiums collected by insurers for this period amounted to UAH 13.331 billion (14.7% more).
The commission notes that the increase in gross insurance premiums was recorded in almost all types of insurance: in voluntary car insurance (KASKO), compulsory vehicle owners’ civil liability (OSAGO) and Green Card by UAH 670 million, or by 24.9%, medical insurance by UAH 443 million, or by 49%, insurance against fire risks and natural hazards by UAH 421 million, or 35.5%, property insurance by UAH 284.5 million, or by 16.3%, life insurance by UAH 195 million, or 23.6%, medical expenses insurance by UAH 183.4 million, or 74%, and aviation insurance by UAH 72.9 million or 90%.
The share of net insurance premiums in gross insurance premiums for Q1 2019 was 72.6%, which is 2.7 percentage points more compared to Q1 2018.
In January-March 2019, insurers paid UAH 3.249 billion in net payments in claims, which is 4.8% more than a year ago. The level of net payments fell from 38.2% to 33.6%.
Gross payments in claims grew by 4.5%, to UAH 3.311 billion. The level of payments fell from 27.3% to 24.8%.
Insurance companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-February 2019 increased collection of insurance premiums for compulsory insurance of motor vehicle owners’ civil liability (OSAGO) by 18.12% compared to the same period of 2018, to UAH 661.448 million. According to data posted on the MTIBU’s website, the number of OSAGO contracts in January-February rose by 7.06%, to 1.066 million.
The total amount of insurance claim fees paid on domestic insurance contracts for the two months grew by 8.5%, to UAH 393.3 million. In particular, UAH 73.116 million was paid using European accident report forms, which is 43.1% more than in January-February 2018.
The bureau also recorded an increase in the number of settled claims for insurance compensation by 6.4%, to 22,500.
The TAS insurance group (Kyiv) in February 2019 collected UAH 125.59 million in insurance premiums, which is 59.3% more than a year ago.
According to a posting on the website of the company, 31.88%or UAH 40.04 million of premiums were collected with signing of compulsory insurance of vehicle owners’ civil liability (OSAGO) policies, which is 47.9% more than in February 2018.
The amount of Green Card policies sold grew by 68.7%, to UAH 35.8 million, or 28.51 of total premiums.
The share of voluntary car insurance (KASKO) was 17%: policies for UAH 21.35 million were signed, which is 51% more than a year ago.
The group collected UAH 12 million under property insurance policies, which is 9.55% of total premiums collected in February and three times more than a year ago.
TAS collected UAH 2.55 million under voluntary medical insurance contracts and UAH 13.85 million under other insurance contracts.
In February 2019, the group paid UAH 56.12 million in claims, which is 42.5% more than a year ago.
INGO Ukraine Life insurance company (Kyiv) collected UAH 30.3 million in insurance premiums in 2018, which is 19% more than in 2017, the company has said in a press release.
“The company consistently maintains the growth pace for premiums collected, retains a leading position in the corporate risk life insurance market, including through new contracts in the segment of not only foreign, but also local companies,” Director General Tetiana Ryzhova said.
The total amount of insurance payment paid by the company in claims for 2018 amounted to UAH 13.3 million, which is 12% higher compared to 2017.
Of these, UAH 4.551 million was paid in cases of death, UAH 3.048 million was paid for disability, UAH 3.178 million was paid to hospitalized and temporary incapacitated persons, and UAH 2.321 million was paid over diseases critical for life of insured persons.
In addition, in 2018, payments were also made on long term endowment insurance contracts for a total of UAH 193,000.
The indefinite life insurance license was obtained by JSC INGO Ukraine Life in November 2007. From April 26, 2013, the company represents the interests of GeneraliEmployeeBenefits (GEB) in Ukraine.
