The National Association of Insurers of Ukraine (NAIU) has joined Insurance Europe as an associate member, the European insurers’ federation announced.
The National Association of Insurers of Ukraine is a non-profit union of insurers, established on the basis of professional affiliation, common interests and unites legal entities that share the goals and objectives of the Association.
We are delighted to welcome our colleagues in the NAIU to our federation. We look forward to our future engagement on the many important issues that affect our industry, and we are honored to stand together with them during this most difficult of times.Insurance Europe president, Andreas Brandstetter
“We are grateful and proud to be part of a respected association that, through 36 member associations, represents 922,000 employees and more than 4,900 insurance and reinsurance companies of all types and sizes, which account for around 95% of the total European premiums,” the Ukrainian association stated.
The National Association of Insurers of Ukraine also expressed its conviction that membership in Insurance Europe is also an important step towards Ukraine’s proper implementation of European legislation.
Experience, expertise, defeats and achievements, which are the property of Insurance Europe participants, will be able to be used for the general gains of Ukrainian insurance.
Commenting on its activity during the year that has passed since the start of the aggression against Ukraine, an article published recently on NAIU’s website said:
“An extremely difficult year for Ukraine and the insurance market can be briefly characterized as a path from panic to development and planning. The war did not affect the purpose and principles of the NAIU community: we continue to direct our activities and support the Regulator on the way to the formation of a solvent, sustainable, competitive insurance market in Ukraine with proper protection of the rights of consumers of insurance services.”
The objectives of the Association are as follows:
- Participation in the development and improvement of legislation in the financial services sector, including the insurance sector;
- Organizing and conducting independent expertise of legislative and regulatory acts, as well as their drafts that contribute to the development and functioning of the financial services market;
- Submission of proposals to the competent authorities on the activities of the financial services market;
- Protection and representation of common legitimate interests of members of the union in enterprises, institutions, and organisations of all forms of ownership and subordination on issues of statutory activities of the Association;
- Organisation of scientific research on economic, legal, technological and other issues of insurance services market development;
- Implementation of projects that contribute to the formation and development of the insurance services market;
- Promoting the creation of an attractive investment environment in the insurance services market of Ukraine;
- Information, advisory, methodological and organisational support of the Association members in the process of their professional activities;
- Promotion of professional development and professionalism of members of the governing bodies and employees of the Association Members;
- Promotion of ensuring an appropriate level of financial stability, solvency and liquidity in the activities of the Association Members;
- Promoting a high level of economic efficiency, competitiveness, and social responsibility in the activities of the Association Members in the financial services market;
- Generalization and dissemination of international best practices in insurance;
- Interaction with other professional unions of the financial market to create a civilized and highly professional financial services market in Ukraine.
The association carries out the following activities in accordance with the established procedure:
- maintenance direct international contacts, and relations, concludes relevant agreements and participates in the implementation of measures that do not contradict Ukraine’s international obligations;
- conducting relevant seminars, conferences, etc;
- distribution bulletins, newsletters and other publications (including by electronic means) necessary for the implementation of statutory tasks;
- conclusion agreements, contracts, and memoranda with enterprises, institutions, organisations regardless of ownership and subordination, which are necessary for the implementation of statutory tasks;
- interaction with non-governmental and international funds and organisations, and receives financial, technical and other assistance from them.
In the standartisation area, namely:
Promoting the efficiency of the financial services industry solely by developing, discussing, proposing objectively justified types of classifiers, product quality, operational reliability and safety standards, and standards on environmental issues.
Relations with authorities and between Members, namely:
- cooperation with the authorities only on issues of regulatory and legal regulation of the general principles of functioning in the financial services market;
- protection of interests of the Association’s Members in state authorities, as well as in other organisations both in Ukraine and abroad;
- assistance in creating conditions for Members of the Association to enter foreign markets.
The Association does not allow the possibility of decisive influence on the economic activities of the Founders (Members) or approval of their competitive behaviour.
The Association and its Members shall not carry out any concerted actions that may restrict competition between the members of the Association and other participants in the financial services market.