Ukraine’s life insurance companies in January-September 2019 collected UAH 3.294 billion of gross insurance premiums, which is 20.2% more than in the same period a year earlier. According to a report on the website of the National Commission for the State Regulation of the Financial Services Market, 96.8% of total insurance premiums came from individuals, 3.2% from legal entities. As of September 30, 2019, the number of insured individuals increased by 15.9%, to 4.950 million.
Over the specified period, life companies paid customers UAH 427.4 million, which is 20.4% less than in the same period a year earlier.
The value of changes in life insurance reserves amounted to UAH 597 million, which is 20.2% less than in the nine months a year earlier.
The largest increase in life insurance reserves (over UAH 90 million) was declared by four life insurance companies in the amount of UAH 397.8 million, UAH 109.6 million, UAH 97.4 million, and UAH 91.7 million respectively.
According to the regulator, the number of life insurance companies in Ukraine as of September 30, 2019 decreased to 23 from 31.
