Business news from Ukraine

UKRAINE’S INSURERS RAISE COLLECTION OF NET PREMIUMS BY 26%

The insurance companies of Ukraine in January-March 2018 collected net premiums in the amount of UAH 8.119 billion, which is 26.7% more than for the same period a year earlier, according to the website of the National Commission for State Regulation of Financial Services Markets. According to the regulator, the volume of gross insurance premiums collected by insurers for the period amounted to UAH 11.619 billion (6.6% more).
The commission notes that an increase in gross insurance premiums occurred for almost all types of insurance: auto insurance (KASKO, OSAGO, Green Card) by UAH 461.2 million, or 20.7%, insurance against fire risks and risks of natural phenomena by UAH 1.046 billion, or 41%, insurance of liability to third parties by UAH 365 million, or 72.2%, credit insurance by UAH 224.8 million, or 3 times, life insurance by UAH 193.8 million, or 30.6%, insurance against accidents by UAH 163.6 million, or 65.9%, medical insurance by UAH 143.8 million, or 18.9%, and medical insurance by UAH 69.9 million, or 40.3%.
The share of net insurance premiums in gross insurance premiums for the first quarter of 2018 rose by 11.1 percentage points from the first quarter of 2017 and amounted to 69.9%.
In January-March of the current year, insurers paid UAH 3.099 billion of net insurance claim fees, which is 37.2% more than in the same period a year earlier. The level of net payments grew from 35.3% to 38.2%.

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