The National Bank of Ukraine (NBU) revoked the insurance operating licenses of PJSC “Insurance Company ‘ASKO DS’” (Kyiv) and PJSC “Insurance Company ‘Peremoha’” (Kyiv).
According to the regulator’s website, the reason for this decision regarding ASKO DS was the company’s failure to submit a business recovery plan and a financing plan to the NBU, as revealed by the results of off-site supervision of the company’s activities.
The business recovery plan was intended to ensure the insurer’s financial recovery and compliance with solvency capital requirements within no more than 180 days from the date the violation of such requirements was identified, while the financing plan was to be implemented within no more than 90 days. Failure to fulfill these obligations led to the National Bank’s repeated rejection of the insurer’s business recovery plan and financing plan.
As for IC “Peremoha,” the results of off-site supervision of the company’s activities revealed that the insurer was engaging in risky activities that threatened the interests of its policyholders and/or other creditors.
Evidence of such activities included the omission and misrepresentation in the insurer’s information systems of data contained in contracts and other source documents, on the basis of which reporting data for the relevant reporting period are calculated or generated. The extent of the omissions and distortions exceeded 10% of the reporting data and the data contained in the insurer’s information systems, and more than 20% of the minimum absolute value of the minimum capital.
The decisions to impose sanctions on ASKO-DS Insurance Company and Peremoha Insurance Company take effect on July 24, 2026. As of that date, the companies lose the right to enter into contracts or make changes (such as extending the terms of existing contracts) regarding the provision of insurance services.
ASKO-DS Insurance Company was registered in November 1991. It has been a member of the Motor (Transport) Insurance Bureau of Ukraine since 1994 and a member of the “Insurance Business” Association since 2015.
According to the National Bank of Ukraine (NBU), the company ranks 30th among Ukraine’s non-life insurers in terms of premiums collected in 2025.
As previously reported, ASKO-DS Insurance Company (formerly Mir Insurance Company, Kyiv) was registered in 1992 and specializes in risk insurance.
According to the National Securities and Stock Market Commission (NSSMC), as of the first quarter of 2026, the shareholders of this insurance company were ABC Finance LLC—79.920% of the shares—and Anastasia Kolesnik—9%.
PJSC “Respect Insurance Company” (Odesa) collected UAH 52.641 million in net premiums in January–June 2026, which is 33.8% more than in the same period of 2025.
According to the company’s interim report, published in the disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross premiums for this period totaled 52.781 million UAH (+33%, respectively). A total of 140,000 UAH was ceded to reinsurers (2.1 times less).
During this period, the company paid out 5.548 million UAH, which is 0.7% less than during the same period a year ago. Meanwhile, administrative expenses totaled 62,000 UAH, which is 4.3 times less than in the first six months of 2025.
Respect Insurance Company’s operating profit for the first half of the year amounted to 17.129 million UAH (3.2 times higher), and net profit was 18.834 million UAH (2.7 times higher).
According to data from the National Securities and Stock Market Commission as of the first quarter of 2026, LLC “Asset Management Company YUG-Invest” (the “Industrial” Closed-End Undiversified Venture Capital Investment Fund) held 67.935% of the insurer’s shares, “Ulyublene Misto” LLC held 9.646%, and “Bereg Stroy Service 2017” LLC held 9.242%.
“Respect” Insurance Company has been operating in the Ukrainian market since March 1995. The company’s main risk portfolio is related to the transportation sector.
Shareholders of PJSC “Ukrainian Fire and Insurance Company” (Kyiv) approved at an extraordinary meeting on July 21, 2026, the amount of annual dividends for common registered shares, based on the results of operations in 2025, totaling 40 million UAH, or 2.50 UAH per share.
As reported by the company in the disclosure system of the National Securities and Stock Market Commission (NSSMC), the decision to pay dividends was adopted by the annual remote general meeting of shareholders (minutes dated May 8, 2026).
The dividends are planned to be paid in several installments (proportionally to all shareholders within a total 6-month period from the date of the decision). The first installment, in the amount of 16 million UAH, is due by August 5, 2026; the second installment, in the amount of 16 million UAH, is due by October 13, 2026; and the third installment, in the amount of 8 million UAH, is due by November 6, 2026.
PJSC “UPSK” was registered in 1993. It specializes, in particular, in motor vehicle insurance, financial risk insurance, travel insurance, property insurance, cargo insurance, and baggage insurance.
According to the company, Oleksandr Mikhailov owns 99.999% of its shares.
According to data from the National Bank of Ukraine (NBU), the company ranks 16th among Ukraine’s non-life insurers in terms of premiums collected in 2025.
The Experts Club Analytical Center has released a ranking of Ukraine’s largest insurance companies by premium volume for the first half of 2026, based on data from the “PRIMA” project of the National Association of Insurers of Ukraine.
The top five insurers collected nearly 16 billion UAH in premiums. The TAS Insurance Group retained its lead, but the most notable changes occurred in the fourth and fifth positions: Arsenal Insurance entered the ranking, while VUSO dropped out of the top five.
Overall Ranking of Insurance Companies
The TAS Insurance Group took first place, collecting 3.857 billion UAH in premiums. Compared to January–June 2025, this figure increased by 11.6%.
ARKS remained in second place with premiums totaling 3.146 billion UAH. Its premiums grew by 15.2%.
“Unica” took third place with 3.076 billion UAH. The company demonstrated the highest growth rate among the top three, increasing its premium volume by 23.5%.
“Arsenal Insurance” moved into fourth place, collecting 2.978 billion UAH. A year earlier, it had not been among the top five insurers.
“INGO” took fifth place with premiums totaling 2.934 billion UAH. Its premium income increased by 22.9%, but the company dropped one spot due to the rapid growth of “Arsenal Insurance.”
The gap between fourth and fifth place was only 44 million UAH, indicating intense competition among the largest general insurers.
MTPL Insurance Ranking
The TAS Group remained the largest player in the mandatory motor third-party liability insurance market, collecting 2.112 billion UAH in premiums. Growth compared to the first half of 2025 was 13.4%.
Oranta took second place with 1.569 billion UAH in premiums and 6.5% growth. Knyazha Vienna Insurance Group ranks third with 1.172 billion UAH in premiums, a 2.8% increase over last year’s figure.
Arsenal Insurance took fourth place with 805.3 million UAH. Rounding out the top five is PZU Ukraine, which collected 614.8 million UAH and returned to the ranks of the segment’s leaders.
INGO and USG, which were among the top five a year earlier, dropped out of the ranking. The combined premium volume of the five largest MTPL insurers totaled approximately 6.27 billion UAH.
The MTPL market remains one of the most concentrated segments of the Ukrainian insurance industry.
Companies with a well-developed regional network, a large customer base, and the ability to quickly settle mass insurance claims have a competitive advantage.
“Green Card” Ranking
The most notable changes occurred in the international motor liability insurance market.
PZU Ukraine took first place, more than doubling its premium volume—by 101.8%—to 656.6 million UAH. A year earlier, the company had ranked third.
The TAS Group moved up to second place. Its premiums decreased by 19.9%, to 519 million UAH.
USG took third place, with its premiums declining by 37.6% to 341.6 million UAH. Knyazha Vienna Insurance Group ranked fourth with 194.1 million UAH and growth of 6.7%.
Rounding out the top five was VUSO with 135.7 million UAH, replacing INGO in the ranking.
The combined premiums of the top five totaled approximately 1.85 billion UAH. PZU Ukraine’s surge was the most notable change among all the insurance segments reviewed.
CASCO Ranking
“Arsenal Insurance” became the new leader in the CASCO market, collecting 1.523 billion UAH in premiums. Over the year, this figure increased by 30.1%.
“ARKS,” which previously held first place, moved down to second place with a result of 1.499 billion UAH. Its premiums grew by 15.9%. The gap between the two leaders was only 24 million UAH.
Third place went to “VUSO” with 761.3 million UAH and growth of 25.1%. “Unica” is in fourth place, having increased its premiums by 33.5% to 753.8 million UAH.
“Universalna” took fifth place with premiums totaling 680.3 million UAH, which is 25.3% higher than the result for the first half of 2025.
The five largest companies collected approximately 5.22 billion UAH in the CASCO segment. All companies in the ranking showed double-digit growth, which may be due to rising costs of vehicles, repairs, and spare parts, as well as higher insurance coverage amounts.
Voluntary Health Insurance Ranking
The composition and order of the top five companies in the voluntary health insurance market remained unchanged.
Unica remained the market leader, collecting 1.333 billion UAH in premiums. Growth stood at 7.3%.
“Universalna” took second place with 774.1 million UAH and growth of 30.9%. “INGO” is in third place, having increased its premiums by 36.6% to 714.3 million UAH.
“VUSO” took fourth place with 577.7 million UAH.
The company demonstrated the highest growth rate among the top five—41.8%.
ARKS retained fifth place, collecting 361.9 million UAH, which is 12.4% more than last year’s figure.
The combined premium volume of the top five companies reached 3.76 billion UAH. The segment’s rapid growth is driven by corporate health insurance programs, which employers use to attract and retain employees.
Ranking of Life Insurance Companies
The life insurance market maintains the most stable leadership structure.
MetLife ranks first with premiums totaling 1.599 billion UAH. Over the past year, the company’s premium income grew by 11.4%. It accounts for approximately 57% of the top five companies’ combined premiums.
TAS ranks second with 525.7 million UAH. The company posted the highest growth rate among the segment’s leaders, increasing its premiums by 21.9%.
Grave Ukraine Life Insurance ranks third with 308.7 million UAH and 9.1% growth.
PZU Ukraine Life Insurance ranks fourth, having collected 205.3 million UAH, which is 8.5% more than a year earlier.
Arks Life rounds out the top five with premiums of 175.5 million UAH and growth of 3.9%.
The combined premium volume of the five largest life insurance companies totaled 2.81 billion UAH.
Key Findings from Experts Club
The Ukrainian insurance market maintained a high level of concentration in the first half of 2026. The same companies hold leading positions in several segments at once, but there is no single leader across all segments.
The TAS Group tops the overall ranking and the MTPL market; PZU Ukraine took first place in Green Card insurance; “Arsenal Insurance” has become the leader in comprehensive auto insurance (CASCO), “Unica” retains first place in health insurance, and “MetLife” continues to dominate the life insurance sector.
“Arsenal Insurance” demonstrated the most notable strengthening of its position. It entered the overall top 5, took first place in comprehensive auto insurance, and ranked fourth in compulsory auto liability insurance.
At the same time, the “Green Card” results show that insurers’ positions can change rapidly, even within a single year. PZU Ukraine’s premiums more than doubled, while those of TAS and USG declined significantly.
Premium growth does not always correspond to a comparable increase in the number of policies. A significant portion of this trend may be attributed to rising costs of vehicles, medical services, repairs, and other insured items. To fully assess a company’s position, it is necessary to consider not only premiums but also claims payments, loss ratios, reserves, capital, and the speed of claims settlement.
According to the National Agency for Insurance Supervision (NAIS), as of the end of June 2026, there were 47 insurers operating in the Ukrainian insurance market. Ten companies specialized in life insurance, while another participant—the Export-Credit Agency—held special status.
Insurance Company “Universal” (Kyiv) collected 2.04 billion UAH in insurance premiums from January through June 2026, which is 27% more than during the same period in 2025, according to the insurer’s website.
According to the data, of this total, UAH 678.9 million (+25%) came from comprehensive auto insurance (CASCO), UAH 616.8 million (+36%) from health insurance, UAH 172.9 million (+45%) from compulsory motor third-party liability insurance (OSCPV), UAH 157.3 million (+14%) from accident insurance — 157.3 million UAH (+14%), aviation insurance — 129.9 million UAH (+24%), property insurance — 92.2 million UAH (+11%), travel insurance — 42 million UAH, and other types of insurance — 152 million UAH.
The main shareholder of IC “Universalna” is Fairfax Financial Holdings Limited (Canada)—a holding company that, through its subsidiaries, is primarily engaged in accident insurance, property insurance, and investment management.
The Ministry of Agrarian Policy and Food of Ukraine, in collaboration with insurance companies, the agribusiness sector, and relevant government agencies, is developing additional mechanisms for insurance protection of port logistics and agricultural products against military risks, the ministry’s press service reported.
Taras Vysotsky, Minister of Agrarian Policy and Food of Ukraine, noted that the extent of damage to port infrastructure, logistics facilities, and agricultural products resulting from the recent massive attacks requires further improvement of existing support mechanisms.
“Maritime exports are critical for Ukraine’s agricultural sector and economy. Amid intensifying Russian attacks, businesses must have clear and accessible protection tools,” the minister’s press service quoted him as saying.
Meeting participants paid particular attention to state mechanisms for supporting businesses in the area of military risk insurance, which are implemented by the Export-Credit Agency of Ukraine.
Currently, companies can take advantage of two instruments. The first is partial compensation for the cost of property damaged or destroyed as a result of armed aggression by the Russian Federation. The maximum compensation amount is up to 30 million hryvnias for companies operating in 10 high-risk regions.
The second instrument is compensation for insurance premiums under military risk insurance policies. The state compensates for the portion of the insurance cost exceeding 1% of the insurance rate, up to 3 million UAH, which allows businesses to significantly reduce the cost of insuring their production assets.
The Ministry of Agrarian Policy noted that the stable operation of the Ukrainian Maritime Corridor is critically important for the agricultural sector, as it ensures the export of products, foreign currency inflows to the budget, and supports global food security. Since the corridor opened in August 2023, 209 million metric tons of cargo have been exported through Ukrainian ports, of which 123 million metric tons were grain products.
Agricultural exports, INSURANCE, MINISTRY OF AGRARIAN POLICY, of which 123 million metric tons were grain products., PORT, PORTS, ЭКА
