Assets of insurance companies managed by the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) grew by 32.4% in 2018, to UAH 2.050 billion, according to a report of the commission that audited the operations of the bureau for 2018.
Of this amount, bank deposits in national currency amounted to UAH 1.661 billion, which is 65.5% more than a year earlier, in foreign currency – 323.6 million (a rise of 12.5%).
The share of deposits in total assets was 66.3%, while a year earlier it was 64.8%.
According to the report, the funds of the victims protection fund and the MTIBU insurance guarantee fund in 2018 were placed in the State Export-Import Bank of Ukraine (Ukreximbank, 6.6% of the total amount of funds placed), Oschadbank (23.9%), Ukrgasbank (28%) , UkrSibbank (0.2%), Credit Agricole Bank (5%), Kredobank (4.1%), OTP Bank (1.8%), Pravex Bank (5%), TAScombank (4.4%), and FUIB (2%).
In addition, the MTIBU manages the assets of insurers invested in local government bonds in national currency in the amount of UAH 203 million, which is 2.5 times more than in 2017, and 247.4 million in foreign currency (2.7 times more).
MTIBU members are 51 insurance companies.
Insurance companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-February 2019 increased collection of insurance premiums for compulsory insurance of motor vehicle owners’ civil liability (OSAGO) by 18.12% compared to the same period of 2018, to UAH 661.448 million. According to data posted on the MTIBU’s website, the number of OSAGO contracts in January-February rose by 7.06%, to 1.066 million.
The total amount of insurance claim fees paid on domestic insurance contracts for the two months grew by 8.5%, to UAH 393.3 million. In particular, UAH 73.116 million was paid using European accident report forms, which is 43.1% more than in January-February 2018.
The bureau also recorded an increase in the number of settled claims for insurance compensation by 6.4%, to 22,500.