Life Insurance companies of Ukraine in 2024 generated $130 mn of gross insurance premiums and $32mn insurance claimes, as reported Beinsure Media by the National Bank of Ukraine data.
Life insurance grew by 6.38% but its market share in premiums declined. Non-life insurance, accounting for 89% of the market, grew by over 20%.
Total number of life insurance companies in Ukraine in the Q2 2024 has decreased to 10 life insurers.
TOP-10 Life Insurers in Ukraine by insurance premiums and claims
| № | LIFE INSURER | GWP, $K | CLAIMS, $K |
| 1 | METLIFE | 62,217 | 12,916 |
| 2 | TAS LIFE | 14,543 | 6,540 |
| 3 | GRAWE UKRAINE LIFE | 14,509 | 5,366 |
| 4 | PZU UKRAINE LIFE | 10,030 | 1,160 |
| 5 | UNIQA LIFE | 8,931 | 2,074 |
| 6 | ARX LIFE | 7,706 | 1,719 |
| 7 | ASKA-LIFE | 3,898 | 168 |
| 8 | FORTE LIFE | 2,542 | 278 |
| 9 | KNYAZHA LIFE VIG | 1,608 | 858 |
| 10 | KD LIFE | 1,441 | 243 |
| TOTAL | 127,429 | 31,327 |
TOP-10 Life Insurers in Ukraine by assets and capital (thousand $)
| № | LIFE INSURER | ASSETS, $K | CAPITAL, $K |
| 1 | METLIFE | 195,225 | 28,856 |
| 2 | GRAWE UKRAINE LIFE | 130,976 | 8,910 |
| 3 | TAS LIFE | 117,976 | 7,781 |
| 4 | PZU UKRAINE LIFE | 57,308 | 13,669 |
| 5 | UNIQA LIFE | 39,842 | 9,469 |
| 6 | KNYAZHA LIFE VIG | 20,681 | 3,586 |
| 7 | KD LIFE | 12,789 | 1,674 |
| 8 | FORTE LIFE | 9,216 | 1,878 |
| 9 | ARX LIFE | 7,475 | 4,825 |
| 10 | ASKA-LIFE | 5,644 | 2,274 |
| TOTAL | 597,136 | 74,401 |
The Ukrainian insurance market is working. The war has become a catalyst that showed the real situation of each insurer. Financially stable companies continue their activities and are being tested by the war.
FAQ
In 2024, Ukrainian insurance companies generated approximately $130 mn in gross insurance premiums and recorded $32 mn in insurance claims, as reported by Beinsure Media using data from the National Bank of Ukraine.
Life insurance grew by 6.38%, although its share of total premiums declined. Non-life insurance, representing 89% of the market, experienced over 20% growth, highlighting the segment’s strength.
By 2024, the number of life insurance companies in Ukraine had reduced to 10, showing consolidation within the life insurance sector.
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Fact-checked by Oleg Parashchak – Editor-in-Chief Beinsure Media, CEO Finance Media Holding
