Ukrainian insurance companies in January-September 2018 collected net premiums for the amount of UAH 25.389 billion, which is 22.1% more than a year ago, the national commission for financial service markets regulation has told Interfax-Ukraine.
Some UAH 8.713 billion was collected under car insurance policies (voluntary car insurance (KASKO), compulsory vehicle owners’ civil liability (OSAGO) and Green Card), which is 22% more than a year ago, UAH 2.451 billion under medical insurance policies (a rise of 21%), UAH 2.407 billion – property insurance (25.9% up), UAH 1.479 billion – fire and natural disaster risk insurance (33.2% up), UAH 1.321 billion – insurance of responsibility to third parties (25% up), UAH 1.251 billion – financial risk insurance (14% down), UAH 1.113 billion – cargo and luggage insurance (42.2% up), UAH 981 million – accident insurance (35.5% up), UAH 838.8 million – medical expenses insurance (32.2% up), UAH 371 million – loan insurance (66.3% up) and UAH 337.4 million – aviation insurance (37.7% down).
During the reporting period, insurance companies specializing in life insurance collected UAH 2.741 billion of net insurance premiums, which is 35.6% more than in January-September 2017, and paid out UAH 536.8 million of insurance claims (a rise of 29.8%).
According to the regulator, the volume of net insurance payments in January-September 2018 increased 18.3%, to UAH 8.467 billion.
Of these, the majority of payments fall on car insurance (KASKO, OSAGO, Green Card) – UAH 4.149 billion, which is 19.6% more than in the same period a year earlier, medical insurance – UAH 1.470 billion (22.9% up) financial risks insurance – UAH 1.050 billion (11.4% down), property insurance – UAH 397 million (2.1 times more), medical expenses insurance – UAH 222.8 million (a rise of 14.1%), fire and natural disasters risk insurance – UAH 170.8 million (4 times more), accident insurance – UAH 139 million (21.6% up), and loan insurance – UAH 63.5 million (a fall of 38.8%).
The regulator also said that reinsurance operations for the first nine months of the current year decreased 11.6%, to UAH 11.719 billion, including a 16.2% fall in nonresident reinsurance, to UAH 2.232 billion.
The insurance companies of Ukraine that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-August 2018 increased collection of premiums for compulsory vehicle owners’ civil liability (OSAGO) by 21% compared with the same period in 2017, to UAH 2.962 billion. According to the MTIBU’s website, the number of OSAGO contracts for the eight months increased by 4.6%, to 5.254 million.
The total volume of insurance claim fee payments under internal insurance contracts, according to the MTIBU, rose by 14.2%, to UAH 1.404 billion. In particular, UAH 218.8 million was paid using EU accident report forms, which is 49% more than in January-August 2017. The bureau also recorded the reduction in the number of settled claims for insurance compensation by 0.05%, to 88,800, of which 24,900 (an increase of 27%) using EU accident report forms.
The TAS insurance group in January-August 2018 attracted UAH 885.15 million in insurance premiums, which is 38.1% more than a year ago. According to a posting on the company’s website, over one third of premiums (34.94%) were from mandatory insurance of civil liability of vehicle owners (OSAGO) policies – UAH 309.26 million (72.7% up year-over-year). Some UAH 187.7 million was collected under Green Card policies (21.21% of total premiums) and 15.5% more than a year ago.
The share of voluntary car insurance (KASKO) was 16.81%. Some UAH 148.78 million was collected under these policies (66% more). Premiums under voluntary medical insurance policies grew by 22.7% year-over-year, to UAH 60.96 million (6.89% of total premiums). The company attracted UAH 32.75 million in premiums under property insurance policies and UAH 145.7 million under other insurance policies.
In January-August 2018, TAS paid UAH 348.66 million in claims, which is 53.6% more than a year ago.
The insurance companies of Ukraine in January-June 2018 collected net premiums for the amount of UAH 16.747 billion, which is 24% more than for the same period a year earlier, according to the website of the National Commission for the State Regulation of Financial Services Markets.
According to the regulator, the volume of gross insurance premiums collected by insurers for the period was UAH 23.425 billion (10.4% more).
The commission notes that an increase in gross insurance premiums was recorded for almost all types of insurance: auto insurance (KASKO, OSAGO, Green Card) by UAH 937 million, or 18.6%, life insurance by UAH 487.7 million, or 39.2%, credit insurance by UAH 442.8 million, or three times more, insurance of liability to third parties by UAH 419.7 million, or by 37.1%, insurance against accidents by UAH 316 million, or by 61%, property insurance by UAH 285.3 million, or 10%, medical insurance by UAH 263.8 million, or by 18.7%, medical costs insurance by UAH 139.6 million, or 34.7%, insurance against fire risks and risks of natural phenomena by UAH 105 million, or 5.2%.
The share of net insurance premiums in gross insurance premiums for the first half of 2018 increased by 7.8 percentage points from the same indicator of 2017 and amounted to 71.5%.
In January-June this year insurers paid UAH 5.863 billion in net insurance claim fees, which is 27% more than for the same period a year earlier. The level of net payments increased to 35% from 34.2%.
The insurance companies of Ukraine, the members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), in January-June 2018 increased collection of insurance premiums on compulsory insurance of vehicle owners’ civil liability (OSAGO) by 20.9% compared with the same period in 2017, to UAH 2.183 billion.
According to the MTIBU’s website, the number of OSAGO contracts for the six months increased by 4.4%, to 3.905 million. The total volume of insurance claim fees paid under internal insurance contracts, according to the MTIBU, increased by 16.2%, to UAH 1.066 billion. In particular UAH 158.2 million were paid using EU accident report forms, which is 44.1% more than in January-June 2017.
The bureau also recorded a reduction in the number of settled claims for insurance compensation – by 0.4%, to 67,700, of which 17,832 using EU accident report forms (an increase of 16.5%).
The MTIBU is the only association of insurers that carry out compulsory insurance of civil liability of land vehicles’ owners for harm caused to third parties. The members of the bureau are 56 insurance companies.
PrJSC European Insurance Alliance (Kyiv) in January-March 2018 collected UAH 40.348 million of net premiums, which is 25.8% more compared to the same period in 2017. According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the volume of signed premiums was UAH 49.770 million (an increase of 11%). Premiums worth UAH 8.674 million were transferred to reinsurance against UAH 8.914 million for the same period of 2017 (2.7% down).
During this period insurance claim fee payments rose by 38.4%, to UAH 21.135 million. The net profit of the company for the first three months amounted to UAH 1.135 million, while for the same period a year earlier some UAH 790,000.
According to official reports, the administrative expenses of the company amounted to UAH 5.087 million, which is 3.8% less than in the three months of 2017. PrJSC European Insurance Alliance has been working in the insurance market since September 1994. There are 17 structural divisions in Kyiv and the regions of Ukraine.