Business news from Ukraine


2 April , 2021  

Insurance companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-February 2021 signed 1.159 million contracts of compulsory insurance of land vehicle owners’ civil liability (OSAGO), which is 2% more than for the same period a year earlier.
According to the data published on the MTIBU’s website, out of the total volume of contracts, 528,400 were concluded in an electronic format, which is 56.8% more than in the two months of 2020.
The members of the bureau increased the collection of insurance premiums under OSAGO policies by 7.4% compared to the same period last year, to UAH 899.7 million, including under electronic contracts – in the amount of UAH 450.9 million, which is 60.4% more than a year earlier.
The total amount of accrued insurance claims under internal insurance contracts in January-February 2021 increased by 18.8%, to UAH 538.4 million, including UAH 99.9 million paid using European road accident record forms, which is 18% more than a year earlier.
The bureau also recorded an increase in the number of settled claims for insurance compensation by 4.8%, to 26,400, including with the use of European road accident record forms – 9,529 (more by 6.2%).
The MTIBU is the only association of insurers that provides compulsory insurance of land vehicle owners’ civil liability for damage caused to third parties. The bureau members are 48 insurance companies.

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