Business news from Ukraine

MTIBU RAISES COST OF GREEN CARD POLICIES BY 5%

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will introduce new tariffs for Green Card policies for people traveling abroad by car from 00:00 on March 13, 2020. According to a report on the bureau’s website, the MTIBU recalculated the cost of Green Card insurance certificates, which are introduced, up 4.9%
The last tariff change was on December 6, 2019 towards a decrease of 4%.
Green Card policies have been implemented since 2009 in two ways: all of Europe; Belarus, Moldova, and Russia. Also, from January 1, 2016, Ukrainian Green Card policies began to operate in Azerbaijan.
According to the MTIBU, the cost of Green Card policies in Ukraine for 15 days for trips in Europe for cars rises to UAH 678 (formerly UAH 647), for buses to UAH 2,548 (UAH 2,430), for trucks to UAH 1,600 (UAH 1,525).
The cost of the Green Card for one month for cars will be UAH 1,080 (UAH 1,029), buses some UAH 3,539 (UAH 3,375), trucks some UAH 2,123 (UAH 2,025).
The cost of six-month and annual Green Card policies for cars will be UAH 4,793 and UAH 5,934 respectively, for buses UAH 12,389 and UAH 23,000, for trucks UAH 10,053 and UAH 18,974 respectively.
The cost of policies for trips to Azerbaijan, Belarus, Moldova and the Russian Federation for cars for 15 days will be UAH 494, one month some UAH 726, half a year some UAH 1,666 and one year some UAH 2,372.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 43%

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 43.23% in January-November 2019 compared to the same period in 2018, to more than one million.
According to the MTIBU’s website, the amount of accrued insurance premiums for the specified period increased by 28.05% compared to the same period last year, to UAH 1.541 billion.
At the same time, the amount of compensation paid on claims rose by 30.26%, to EUR 13.664 million, while the number of claims paid grew by 14.14%, to 5,296.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties.

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NUMBER OF GREEN CARD INTERNATIONAL INSURANCE CONTRACTS IN UKRAINE 45.6% UP

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 45.6% in January-July 2019 compared with January-July 2018, to 618,969.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 35.8% compared to the same period last year, to UAH 1.038 billion.
At the same time, the amount of compensation paid on claims grew by 22.41%, to EUR8.440 million, while the number of claims paid was up by 3.04%, to 3,047.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. Its members are 51 insurance companies, including ten full bureau members having the right to sign Green Card agreements.

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NUMBER OF GREEN CARD INTERNATIONAL INSURANCE CONTRACTS IN UKRAINE UP BY 48% IN H1, 2019

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 48.2% in January-June 2019 compared with January-June 2018, to 501,449.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 37.53% compared to the same period last year, to UAH 883.538 million.
At the same time, the amount of compensation paid on claims grew by 14.88%, to EUR 6.869 million, while the number of claims paid decreased by 2.26%, to 2,550.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. Its members are 51 insurance companies, including ten full bureau members having the right to sign Green Card agreements.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 50%

The number of Green Card international insurance contracts signed by the companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 50.3% in January-May 2019 compared with January-May 2018, to 299,531.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 39.06% compared to the same period last year, to UAH 737.1 million.
At the same time, the amount of compensation paid under the claims grew by 0.44%, to EUR 4.779 million.
The number of settled claims fell by 1.04%, to 2,098.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 48.9%

The number of Green Card international insurance contracts signed by the companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 48.99% in January-March 2019 compared with January-March 2018, to 212,616.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 39.87% compared to the same period last year, to UAH 453.5 million.
At the same time, the amount of compensation paid under the claims decreased by 12.41%, to EUR 2.473 million.
The number of paid claims fell by 8.49%, to 1,229.

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