Business news from Ukraine

NUMBER OF COMPLAINTS AGAINST UKRAINIAN INSURERS FALLS

The National Commission for the Financial Service Markets Regulation through January-June 2019 received 2,537 complaints concerned insurance companies, which was 3.1% less during the similar period of 2018.
Leaders in the number of complaints wereOmega (157, UAH 8.71 million was additionally paid), Halytska (155, UAH 1.29 million), Oranta (140, UAH 2.7 million), and ASKA (129, UAH 5.99 million).
Some 581 complaints were received against these insurance companies. These companies paid UAH 18.69 million after consideration of complaints by the commission.
Total additional payments by insurers after consideration of complaints over the period reached UAH 48.92 million.
The commission said that complaints arrived from individuals and legal entities, including people’s deputies, the Cabinet of Ministers, the Presidential Administration, parliamentary committees, ministries and agencies.

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UKRAINIAN INSURERS IN JAN-MARCH COLLECT NET PREMIUMS IN AMOUNT OF UAH 9.6 BLN

Ukrainian insurance companies in January-March 2019 collected net premiums in the amount of UAH 9.673 billion, which is 19.1% more than in January-March 2018, according to the website of the National Commission for Financial Service Markets Regulation.
According to the regulator, the volume of gross insurance premiums collected by insurers for this period amounted to UAH 13.331 billion (14.7% more).
The commission notes that the increase in gross insurance premiums was recorded in almost all types of insurance: in voluntary car insurance (KASKO), compulsory vehicle owners’ civil liability (OSAGO) and Green Card by UAH 670 million, or by 24.9%, medical insurance by UAH 443 million, or by 49%, insurance against fire risks and natural hazards by UAH 421 million, or 35.5%, property insurance by UAH 284.5 million, or by 16.3%, life insurance by UAH 195 million, or 23.6%, medical expenses insurance by UAH 183.4 million, or 74%, and aviation insurance by UAH 72.9 million or 90%.
The share of net insurance premiums in gross insurance premiums for Q1 2019 was 72.6%, which is 2.7 percentage points more compared to Q1 2018.
In January-March 2019, insurers paid UAH 3.249 billion in net payments in claims, which is 4.8% more than a year ago. The level of net payments fell from 38.2% to 33.6%.
Gross payments in claims grew by 4.5%, to UAH 3.311 billion. The level of payments fell from 27.3% to 24.8%.

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