Business news from Ukraine

FRENCH AXA RAISES PREMIUM COLLECTION IN UKRAINE BY 14%

AXA Insurance (Kyiv) in January-June collected more than UAH 915.6 million in gross insurance premiums, which is 14% or UAH 115 million more than for the same period in 2017, according to the press release of the insurer.
The total volume of insurance claim fee payments for this period was UAH 455 million, which is 17% more than in 2017 (UAH 390 million).
According to the press release, in the six months of 2018 the volume of premiums on KASKO was UAH 522 million, showing an increase of 10%. At the same time, 66% of premiums or UAH 346 million are due to contracts concluded with individuals.
According to the programs of voluntary medical insurance (the company is included in the top three of the market leaders) for six months of this year, AXA collected UAH 138 million of premiums (a 32% increase), undertaking obligations on more than 346,000 contracts. In the first half of 2018, voluntary health insurance programs for individuals were successfully launched.
AXA Insurance belongs to AXA Group (France). It is represented in the Ukrainian insurance market since 2007. The company employs more than 780 people and 1,220 agents throughout Ukraine.

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UKRAINIAN INSURERS INCREASE PREMIUM COLLECTION VIA RESIDENT INTERMEDIARIES BY 48% – REGULATOR

Ukrainian insurance companies in 2017 collected UAH 131.128 million of premiums through resident intermediaries, which is 48.4% more compared to 2016 (UAH 88.366 million). According to a report on the website of the National Commission for Regulation of Financial Services Markets, the number of contracts signed through resident intermediaries for the period increased by 12.5%, to 4,240.
According to the regulator, of the total amount of collected premiums, premiums on personal insurance amounted to UAH 115.02 million, property insurance to UAH 6.9 million, mandatory insurance to UAH 2.25 million, life insurance to UAH 1.33 million, and liability insurance to UAH 5.621 million.
The amount of remuneration for the provision of such intermediary services for 2017 increased 56.7%, to UAH 9.199 million.
According to the commission, insurance premiums received by non-resident insurers under insurance contracts for the specified period amounted to UAH 3.497 million, which is 19.3% less than in 2016. Remuneration on 32 signed contracts amounted to UAH 619,500. The regulator said that during the reporting period insurance claim fee payments under the above contracts were not made.

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