Insurance companies of Ukraine in 6M2023 generated $520 mn of gross insurance premiums and $210 mn insurance clames, which is respectively 25.5% and 29% less than 6M2022.
Non-life Ukrainian insurers received $440 mn premiums. The assets of UA insurers rose to $2 bn. Insurers’ assets grew in 8M2023 despite the decrease in the number of companies on the market. At the same time, volumes of gross insurance premiums and claims paid on non-life insurance declined in quarterly terms by 10% and 14% respectively.
Total number of insurance companies in Ukraine in the 8M2023 – 110, of which 100 are non-life insurers.
TOP-25 Non-Life Insurers in Ukraine by net premiums earned (thousand $)
| № | Insurers | Insurance Premiums Written, $K | Net Premiums Earned, $K | Insurance Claims, $K |
|---|---|---|---|---|
| 1 | ARX | 1 709 321 | 1 506 504 | 625 671 |
| 2 | UNIQA | 1 607 039 | 1 266 660 | 672 742 |
| 3 | USG | 1 465 881 | 1 080 110 | 702 471 |
| 4 | TAS IG | 1 454 485 | 1 261 237 | 611 189 |
| 5 | INGO | 1 249 788 | 971 388 | 545 624 |
| 6 | VUSO | 1 188 481 | 1 031 354 | 438 689 |
| 7 | UNIVERSALNA | 982 380 | 747 399 | 288 465 |
| 8 | ARSENAL STRAHUVANNYA | 960 651 | 837 366 | 452 302 |
| 9 | KNYAZHA VIG | 879 723 | 504 251 | 272 720 |
| 10 | PZU UKRAINE | 743 990 | 664 987 | 310 341 |
| 11 | GARDIAN | 673 785 | 553 729 | 180 166 |
| 12 | ORANTA | 630 578 | 574 147 | 248 089 |
| 13 | PERSHA | 346 368 | 281 464 | 121 900 |
| 14 | EXPRESS STRAHUVANNYA | 320 205 | 290 972 | 148 140 |
| 15 | COLONNADE UKRAINE | 318 095 | 227 367 | 68 534 |
| 16 | EUROINS UKRAINE | 266 007 | 200 132 | 125 910 |
| 17 | CREDO | 244 107 | 152 650 | 88 749 |
| 18 | UPSK | 227 719 | 168 024 | 74 958 |
| 19 | BROKBUSINESS | 172 148 | 127 759 | 57 915 |
| 20 | KRAYINA | 171 525 | 172 554 | 83 306 |
| 21 | OBERIG | 170 054 | 191 580 | 83 840 |
| 22 | UTICO | 155 646 | 138 235 | 61 921 |
| 23 | EUROPEAN INSURANCE ALLIANCE | 146 098 | 112 954 | 51 670 |
| 24 | VD STRAHUVANNYA | 139 166 | 134 595 | 49 317 |
| 25 | BUSIN | 136 902 | 60 029 | 671 |
Source: Beinsure by NBU data
Over 40% of the market premium portfolio is traditionally occupied by motor insurance (MTPL, Motor Hull and Green Card summed). During the period of military aggression, the share of these types of insurance in the portfolio increased. The Green Card segment became the insurance business support driver, while the other segments recorded a drop in volumes.
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Edited & fact-checked by Oleg Parashchak – Editor-in-Chief Beinsure Media, CEO Finance Media Holding
