Life insurance companies of Ukraine in January-March 2020 collected UAH 1.253 billion of gross insurance premiums, which is 22.8% more than in the same period in 2019.
According to the report on the website of the National Commission for the State Regulation of Financial Services Markets, 95% of total insurance premiums came from individuals, 5% from legal entities.
For the first quarter of 2020, the number of insured individuals increased by 11.8% or by 543,326 people, to 5.132 million people.
During this period, life companies paid customers UAH 146 million, which is 0.1% less than for the same period in 2019
The value of changes in life insurance reserves amounted to UAH 851 million, which is 3.7 times more than a year earlier. In particular, investment income, which is used when calculating insurance tariffs, amounted to UAH 75.1 million (16.6% more), and indexation of the amount of insurance sums some UAH 20.5 million (26.3% less).
In the first quarter of 2020, six life insurance companies received a negative value of growth in life insurance reserves totaling UAH 7.9 million, which is associated with the early termination of insurance contracts (in the first quarter of 2019, while seven life insurers declared a negative value for the total amount of UAH 25.4 million).
