Brief overview of ukranian insurance market

1Q 2025

Insurance premiums NON-LIFE

  • Non-life insurers’ premiums amounted to UAH 14 billion UAH.

  • Market premiums increased by almost 36% compared to Q1 2024.

  • NAIU members’ premiums amounted to UAH 10.5 billion UAH.

  • NAIU members’ premiums increased by 41.5% compared to Q1 2024.

  • Motor insurance accounts for 62.2% of the market structure, while medical insurance represents about 18%.

  • NAIU members hold over 76% of the motor insurance market and 80% of the medical insurance segment.

  • The top 10 insurers account for over 71% of total premiums, all of which are NAIU members.

NON-LIFE rating for 1Q 2025

Insurance premiums

Claims paid NON-LIFE

  • Non-life insurers’ claims paid amounted to 5.4 billion UAH.

  • Claims paid increased by almost 17% compared to Q1 2024.

  • NAIU members paid out over 4 billion UAH – accounting for more than 76% of total claims paid.

  • Claims paid by NAIU members increased by more than 21% compared to Q1 2024.

  • The largest share of claims paid traditionally falls on motor insurance – 3.5 billion UAH or 65.6%, and medical insurance – 1.4 billion UAH or 26.6%.

  • The top 10 insurers by claims paid accounted for nearly 75% of the total in 2024, with 9 out of the top 10 being NAIU members.

NON-LIFE rating for 1Q 2025

Claims paid

Useful observations NON-LIFE

  • Motor insurance – the most popular sales channel remains the agent network, which accounted for over 62% of premiums in Q1 2025.

  • More than 124 million UAH (124.5 million UAH) in income tax was paid under MTPL contracts, which is 2.4 times more than in the same period last year.

  • The share of sales through online aggregators for motor insurance increased to 10.5% – with MTPL being the main growth driver.

  • 99.3% of OMTPL policies were issued electronically in Q1 2025.

  • MTPL (Compulsory Third Party Liability Insurance) – saw a 114% increase in insurance premiums, and the average premium rose by 135%, reaching 2,975 UAH over the three-month period.

  • Eligible assets of insurers grew by almost 31%, amounting to 69.3 billion UAH as of the end of Q1 2025.

  • Medical insurance – claims paid continue to rise due to an increase in the frequency of insured events, the cost of healthcare services, and medication prices. The loss ratio reached around 75%, while premiums increased by more than 16%.

Insurance premiums LIFE

  • Life insurance premiums amounted to 1.4 billion UAH.
  • The life insurance market grew by almost 5.6% compared to Q1 2024.
  • NAIU members collected 1.2 billion UAH in premiums.
  • 91% of all collected life insurance premiums came from NAIU members.

LIFE rating for 1Q 2025

Insurance premiums

Claims paid LIFE

  • As of Q1 2025, claims paid amounted to 392.1 million UAH, which is 23.8% more than in the same period last year.
  • Claims paid by NAIU members totaled 371.7 million UAH – nearly 32% more year-on-year – accounting for almost 95% of all life insurance claims on the market.

LIFE rating for 1Q 2025

Claims paid

Useful observations LIFE

  • As of Q1 2025, claims paid amounted to 392.1 million UAH – a 23.8% increase compared to the same period last year.

  • Claims paid by NAIU members totaled 371.7 million UAH, up by 31.4% year-on-year, accounting for nearly 95% of all life insurance claims on the market.

  • As of the end of Q1 2025, surrender payments amounted to 78.8 million UAH – only 0.4% higher than in the same period last year.

  • Eligible assets increased by 25%, despite a decrease in the number of life insurance market players.

  • 17.6 million UAH in health insurance premiums was collected by life insurers – this includes just three companies.

  • The market share of the largest life insurer exceeded 50%.

Insurance rating by lines of business for 1Q 2025

Insurance premiums

Rating position IC Premiums
#1 ARX 580.888.600,37
#2 ARSENAL IC 508.109.000,00
#3 UNIQA 290.540.867,42
#4 VUSO 282.753.522,57
#5 USG 231.270.796,20
#6 UNIVERSALNA 225.267.039,69
#7 IG TAS 183.192.977,92
#8 EXPRESS INSURANCE 179.807.171,26
#9 INGO 137.694.472,64
#10 PZU 116.517.656,70
#11 IC VIDI-STRAHUVANNYA 115.742.001,54
#12 KNIAZHA VIG 91.041.701,29
#13 IC Persha 40.625.625,42
#14 IC BROKBUSINESS 31.521.162,16
#15 Colonnade Ukraine 31.048.911,88
#16 Krayina 26.021.999,06
#17 UPSK 23.298.219,72
#18 GUARDIAN IC 20.345.702,87
#19 ORANTA 17.065.255,92
#20 European Insurance Alliance 16.594.000,00
#21 GRAWE UKRAINE 14.383.562,02
#22 IC HARANT I YA 14.214.143,78
#23 Euroins Ukraine 12.643.401,57
#24 IC ASKO DS 12.276.200,00
#25 IC ULTRA ALLIANCE 9.672.185,59
#26 IC NADIYNA 3.622.800,00
#27 IC ARSENAL 3.422.950,85
#28 DZHERELO STRAHUVANNYA 2.426.457,29
#29 INTER-POLICY 2.125.800,00
#30 ICCREDO 1.840.764,29
#31 ETALON 1.290.000,00
#32 SKARBNYTSIA” 1.274.597,75
#33 INTEREXPRESS 785.000,00
#34 INIC 602.017,13
#35 IC EXPO STRAHUVANNYA 426.170,00
#36 IC RESPECT 420.700,00
#37 IC Misto 318.000,00
#38 IC Veles 165.185,09
#39 IC Transmagistral 149.700,00
#40 UTSK (IC UTICO) 77.588,17
#41 BUSIN 60.400,00
Rating position IC Premiums
#1 IG TAS 706.795.939,63
#2 ORANTA 652.050.176,89
#3 KNIAZHA VIG 537.123.622,02
#4 Euroins Ukraine 211.801.440,90
#5 VUSO 208.045.771,56
#6 INGO 202.516.778,99
#7 ARX 191.796.892,87
#8 ARSENAL IC 183.283.000,00
#9 USG 174.940.608,38
#10 PZU 163.273.028,27
#11 GUARDIAN IC 127.521.814,34
#12 UNIQA 115.971.772,00
#13 IC BROKBUSINESS 105.992.374,38
#14 IC Persha 103.246.120,00
#15 INTER-POLICY 89.787.300,00
#16 UPSK 83.253.022,17
#17 Krayina 78.566.969,84
#18 EXPRESS INSURANCE 74.934.748,76
#19 UTSK (IC UTICO) 65.799.161,90
#20 ETALON 49.530.000,00
#21 UNIVERSALNA 46.966.608,03
#22 European Insurance Alliance 32.271.000,00
#23 IC ASKO DS 17.810.800,00
#24 Colonnade Ukraine 11.740.590,77
#25 GRAWE UKRAINE 9.080.407,27
#26 SKARBNYTSIA” 8.282.928,12
#27 ICCREDO 957.440,00
Rating position IC Premiums
#1 IG TAS 343.566.487,93
#2 USG 236.037.826,10
#3 PZU 123.960.291,90
#4 KNIAZHA VIG 97.104.322,40
#5 IC Persha 88.293.598,11
#6 INGO 71.518.703,34
#7 GUARDIAN IC 66.619.138,83
#8 ORANTA 59.394.075,64
#9 UTSK (IC UTICO) 56.132.044,91
#10 VUSO 51.387.586,18
#11 ARX 27.193.429,32
Rating position IC Premiums
#1 UNIQA 568.857.759,09
#2 INGO 290.525.287,46
#3 UNIVERSALNA 219.457.618,64
#4 ARX 212.565.307,72
#5 VUSO 199.716.208,28
#6 IG TAS 123.974.429,83
#7 USG 103.945.449,74
#8 PZU 95.471.398,55
#9 KNIAZHA VIG 86.138.199,48
#10 IC Transmagistral 78.776.957,21
#11 IC BROKBUSINESS 71.552.310,73
#12 ARSENAL IC 67.290.000,00
#13 Colonnade Ukraine 59.730.657,14
#14 Euroins Ukraine 58.706.655,81
#15 Krayina 53.023.216,46
#16 IC Persha 36.869.254,50
#17 ICCREDO 36.514.469,63
#18 European Insurance Alliance 30.151.000,00
#19 UPSK 25.318.222,01
#20 INTEREXPRESS 20.545.000,00
#21 ORANTA 15.054.896,31
#22 IC TAS 11.361.659,53
#23 IC ARSENAL 9.693.278,03
#24 GUARDIAN IC 8.976.998,27
#25 IC ULTRA ALLIANCE 7.323.012,51
#26 European Travel Insurance 6.453.000,00
#27 MetLife 5.518.641,40
#28 IC CARDIF 4.952.282,06
#29 EXPRESS INSURANCE 3.524.913,00
#30 IC Misto 2.795.000,00
#31 GRAWE UKRAINE 2.409.157,79
#32 IC RESPECT 2.278.700,00
#33 ETALON 1.773.000,00
#34 IC ASKO DS 1.596.200,00
#35 INIC 1.318.162,37
#36 INTER-POLICY 1.050.300,00
#37 IC Suirya 989.000,00
#38 SKARBNYTSIA” 769.007,34
#39 ARX LIFE IC 725.839,26
#40 BUSIN 672.600,00
#41 IC EXPO STRAHUVANNYA 123.680,55
#42 IC Veles 99.324,10
#43 Profesional insurance 69.170,00
#44 UTSK (IC UTICO) 56.369,24
#45 IC KVORUM 20.560,00
#46 INSURANCE GUARANTEES OF UKRAINE 11.000,00
#47 IC NADIYNA 10.300,00
#48 Shid-Zahid 1.000,00
Rating position IC Premiums
#1 MetLife 484.754.028,57
#2 IC TAS 174.481.296,69
#3 GRAWE UKRAINE LIFE INSURANCE 130.349.387,76
#4 PZU LIFE 80.601.000,00
#5 IC UNIQA LFE 37.649.759,94
#6 IC FORTE LIFE 21.192.345,12
#7 IC KD Life 20.270.932,29
#8 IC KNIAZHA LIFE VIENNA INSURANCE GROUP 13.387.751,33
#9 ASKA-LIFE 4.505.000,00
#10 ARX LIFE IC 713.003,32
Rating position IC Premiums
#1 PZU LIFE 24.763.000,00
#2 IC FORTE LIFE 119.480,92
Rating position IC Premiums
#1 MetLife 233.252.799,42
#2 ARX LIFE IC 80.112.567,57
#3 IC UNIQA LFE 47.622.325,87
#4 ASKA-LIFE 24.344.000,00
#5 IC TAS 19.730.259,87
#6 GRAWE UKRAINE LIFE INSURANCE 8.636.834,65
#7 IC KNIAZHA LIFE VIENNA INSURANCE GROUP 496.257,44
#8 IC KD Life 66.744,25

Insurance rating by lines of business for 2024

Claims paid

Rating position IC Claims paid
# 1 ARX 267.536.328,97
# 2 ARSENAL IC 255.550.000,00
# 3 IG TAS 165.607.367,41
# 4 VUSO 143.435.816,10
# 5 UNIQA 138.303.610,77
# 6 USG 126.699.841,86
# 7 UNIVERSALNA 101.387.156,85
# 8 INGO 89.079.701,24
# 9 EXPRESS INSURANCE 79.354.425,44
# 10 PZU 60.320.024,14
# 11 KNIAZHA VIG 52.198.844,08
# 12 IC VIDI-STRAHUVANNYA 46.395.161,57
# 13 IC Persha 22.484.155,11
# 14 Colonnade Ukraine 21.975.296,39
# 15 Krayina 14.579.403,23
# 16 IC BROKBUSINESS 14.300.473,10
# 17 GRAWE UKRAINE 11.096.422,48
# 18 UPSK 10.852.093,20
# 19 European Insurance Alliance 10.639.000,00
# 20 GUARDIAN IC 10.383.677,31
# 21 ORANTA 9.721.580,59
# 22 IC ULTRA ALLIANCE 7.741.756,89
# 23 IC HARANT I YA 6.870.922,30
# 24 Euroins Ukraine 6.482.837,58
# 25 IC ASKO DS 3.841.500,00
# 26 INIC 2.879.838,90
# 27 IC NADIYNA 2.083.600,00
# 28 INTER-POLICY 1.212.200,00
# 29 SKARBNYTSIA” 978.251,98
# 30 INTEREXPRESS 884.000,00
# 31 Ukrainian agro-IC 872.865,03
# 32 ETALON 798.000,00
# 33 ICCREDO 659.475,07
# 34 IC RESPECT 467.300,00
# 35 IC ARSENAL 299.233,49
# 36 IC EXPO STRAHUVANNYA 239.592,77
# 37 IC Misto 231.000,00
# 38 BUSIN 87.600,00
# 39 UTSK (IC UTICO) 25.000,00
Rating position IC Claims paid
# 1 IG TAS 189.425.519,12
# 2 ORANTA 154.845.172,14
# 3 KNIAZHA VIG 142.946.322,31
# 4 PZU 96.416.686,82
# 5 VUSO 62.080.318,46
# 6 INGO 61.693.659,81
# 7 USG 60.928.852,75
# 8 Euroins Ukraine 60.507.487,68
# 9 UNIQA 51.674.833,20
# 10 GUARDIAN IC 49.568.340,13
# 11 ARSENAL IC 48.762.000,00
# 12 ARX 47.866.895,28
# 13 IC BROKBUSINESS 43.840.449,91
# 14 ETALON 37.397.000,00
# 15 IC Persha 33.525.604,63
# 16 INTER-POLICY 28.196.500,00
# 17 ICCREDO 27.053.779,13
# 18 UPSK 22.592.067,64
# 19 Krayina 19.803.646,37
# 20 UNIVERSALNA 18.232.572,58
# 21 EXPRESS INSURANCE 17.192.623,77
# 22 UTSK (IC UTICO) 16.490.317,01
# 23 European Insurance Alliance 12.657.700,00
# 24 GRAWE UKRAINE 8.392.130,70
# 25 IC ASKO DS 7.230.400,00
# 26 SKARBNYTSIA” 2.827.276,23
# 27 Colonnade Ukraine 2.728.276,55
Rating position IC Claims paid
# 1 IG TAS 145.823.386,88
# 2 USG 103.746.164,08
# 3 KNIAZHA VIG 49.280.951,43
# 4 IC Persha 45.897.764,92
# 5 GUARDIAN IC 42.094.430,44
# 6 PZU 38.980.342,95
# 7 INGO 37.548.151,03
# 8 ORANTA 29.973.740,70
# 9 UTSK (IC UTICO) 22.841.740,24
# 10 VUSO 10.749.060,79
# 11 ARX 8.944.156,37
# 12 UNIVERSALNA 259.570,76
Rating position IC Claims paid
# 1 UNIQA 283.659.579,92
# 2 INGO 169.481.409,26
# 3 VUSO 144.885.290,80
# 4 UNIVERSALNA 133.930.417,30
# 5 IG TAS 97.539.753,39
# 6 IC Transmagistral 88.811.113,20
# 7 ARX 78.606.199,12
# 8 USG 69.092.665,29
# 9 PZU 64.500.212,93
# 10 ARSENAL IC 63.054.000,00
# 11 KNIAZHA VIG 42.315.739,32
# 12 Krayina 34.838.819,31
# 13 IC Persha 33.857.095,80
# 14 Colonnade Ukraine 29.096.202,69
# 15 European Insurance Alliance 26.993.900,00
# 16 Euroins Ukraine 18.034.389,98
# 17 IC BROKBUSINESS 17.578.034,91
# 18 INTEREXPRESS 9.454.000,00
# 19 ICCREDO 8.483.761,94
# 20 UPSK 4.942.768,94
# 21 ORANTA 3.852.498,31
# 22 IC ARSENAL 3.599.686,60
# 23 IC TAS 1.848.700,51
# 24 GRAWE UKRAINE 1.546.688,59
# 25 ETALON 1.538.000,00
# 26 EXPRESS INSURANCE 1.429.395,38
# 27 IC Misto 1.378.000,00
# 28 MetLife 1.090.200,00
# 29 INTER-POLICY 759.000,00
# 30 IC CARDIF 626.834,38
# 31 IC ULTRA ALLIANCE 528.031,49
# 32 IC RESPECT 353.200,00
# 33 IC ASKO DS 316.300,00
# 34 Ukrainian agro-IC 304.120,86
# 35 GUARDIAN IC 188.213,00
# 36 INIC 159.735,36
# 37 IC NADIYNA 110.500,00
# 38 SKARBNYTSIA” 60.097,58
# 39 Profesional insurance 12.798,66
# 40 IC EXPO STRAHUVANNYA 6.360,70
Rating position IC Claims paid
# 1 MetLife 69.665.620,72
# 2 IC UNIQA LFE 61.186.670,16
# 3 GRAWE UKRAINE LIFE INSURANCE 49.752.830,34
# 4 IC TAS 47.996.169,96
# 5 PZU LIFE 11.440.000,00
# 6 IC KNIAZHA LIFE VIENNA INSURANCE GROUP 6.004.859,85
# 7 IC FORTE LIFE 4.318.198,33
# 8 IC KD Life 3.185.164,94
# 9 ASKA-LIFE 1.613.000,00
# 10 ARX LIFE IC 154.914,87
Rating position IC Claims paid
# 1 PZU LIFE 4.326.000,00
# 2 IC FORTE LIFE 16.000,00
Rating position IC Claims paid
# 1 MetLife 48.649.997,73
# 2 ARX LIFE IC 15.060.725,59
# 3 IC TAS 8.926.468,40
# 4 IC UNIQA LFE 7.452.181,75
# 5 GRAWE UKRAINE LIFE INSURANCE 3.451.436,52
# 6 IC KNIAZHA LIFE VIENNA INSURANCE GROUP 486.888,96
# 7 ASKA-LIFE 141.000,00
# 8 IC KD Life 2.269,25

Rating for 1Q 2025

Other indicators

The market review was prepared by NAIU using data published by the National Bank of Ukraine and using data from the PDMA information exchange.
The use of the market review or its parts, ratings (including their elements), visualizations (including their elements) posted on this website without reference to NAIU is prohibited.

Brief overview of ukranian insurance market

2024

Insurance premiums NON-LIFE

  • Premiums for risk insurance amounted to UAH 47.3 billion

  • Market premiums increased by 13.2% compared to 2023

  • Premiums of NAIU participants amounted to UAH 35.1 billion

  • Premiums of NASU participants increased by 25.6% compared to 2023

  • Motor insurance accounts for 62.3% of the market structure, while nearly 23% comes from health insurance

  • The market share of NAIU participants in motor insurance exceeds 74%, and in health insurance, it is over 80%

  • The concentration of premiums among the top 10 insurers has exceeded 71%, with all of the top 10 insurers being NAIU participants

NON-LIFE rating for 2024

Insurance premiums

Claims paid NON-LIFE

  • Claims paid for risk insurance amounted to UAH 19.0 billion
    Insurance payouts increased by nearly 24% compared to 2023

  • NAIU participants paid out over UAH 14 billion, accounting for more than 75% of all claims paid

  • Insurance payouts by NAIU participants increased by 31.2% compared to 2023

  • The largest share of insurance payouts traditionally falls on motor insurance – UAH 12.9 billion or 68.1%, and health insurance – UAH 4.7 billion or 24.0%

  • The top 10 insurers accounted for 74% of all claims paid in 2024, with 9 out of these 10 insurers being NASU participants

     

NON-LIFE rating for 2024

Claims paid

Useful observations NON-LIFE

  • Motor insurance – The most popular sales channel remains the agent network, which accounted for over 63% of premiums in 2024

  • Admissible assets – In the structure of insurers’ admissible assets (to maintain an adequate level of solvency), government securities continue to hold a significant share, amounting to UAH 22 billion or 33.6%. The second-largest category is bank deposits, totaling UAH 21.6 billion or 32.9%

  • “Health insurance” – the trend of increasing insurance payouts continues, driven by the rising frequency of insurance claims, the growing cost of medical services, and the increasing cost of medications

  • MTPL (Compulsory Motor Third Party Liability Insurance) – Demonstrated a growth of over 20% in insurance premiums and an increase of more than 400,000 insurance contracts. The highest surge in premiums and contracts was observed in December 2024 (compared to December 2023: +90% in premiums and +64.2% in contracts), driven by the enactment of a new law

Insurance premiums LIFE

  • Life insurance premiums amounted to UAH 5.7 billion
  • The life insurance market premiums grew by nearly 11% compared to 2023.
  • NAIU participants’ premiums increased by 12.8%, reaching UAH 5.2 billion
  • NAIU participants accounted for 91.4% of all collected premiums

LIFE rating for 9 months 2024

Insurance premiums

Claims paid LIFE

  • As of the end of 2024, payouts amounted to UAH 1,458 million, which is 15% more than in 2023
    Insurance payouts by
  • NAIU participants totaled UAH 1,377 million, nearly 15% higher than the same period last year, accounting for almost 95% of all life insurance market claims paid
  • As of the end of 2024, the redemption claims amounted to UAH 354.4 million, representing a 41% increase compared to 2023

LIFE rating for 2024

Claims paid

Useful observations LIFE

  • 49.1% – market share of a single insurer

  • According to NAIU participants, periodic premiums (“active business”) increased by nearly 23%, indicating customer trust in the life insurance market

  • More than 78% of life insurance market premiums came through the agent network, making it the most popular sales channel

    • 31.2% – for contracts without a savings component.

    • 68.8% – for contracts with a savings component (classic life insurance).The distribution of premiums between savings and risk-based life insurance is as follows:

    The distribution between “new” and “active” business is:

    • 24.4% – new contracts.

    • 75.6% – active contracts.

     

  • The claimspaid distribution in classic life and risk-based life insurance aligns with the premium distribution

  • As of 2024, the growth of life insurance premiums in classes 1 and 2 continues. Premiums for these classes have already reached nearly UAH 13 million

Insurance rating by lines of business for 2024

Insurance premiums

Rating position IC Premiums
#1 UNIQA 1.672.061.727,60
#2 UNIVERSALNA 981.609.177,06
#3 VUSO 909.745.090,34
#4 INGO 822.599.618,17
#5 IG TAS 623.952.795,05
#6 USG 455.669.166,50
#7 ARX 446.766.922,10
#8 PZU 372.829.776,71
#9 ARSENAL IC 359.083.000,00
#10 ICCREDO 263.321.686,83
#11 KNIAZHA VIG 258.758.446,69
#12 IC Transmagistral 252.286.890,28
#13 Krayina 201.664.667,04
#14 Colonnade Ukraine 173.074.321,79
#15 Euroins Ukraine 137.288.790,42
#16 European Insurance Alliance 131.521.600,00
#17 IC Persha 129.293.526,66
#18 UPSK 85.626.694,03
#19 ORANTA 73.347.612,34
#20 IC BROKBUSINESS 62.847.456,73
#21 INTEREXPRESS 59.583.000,00
#22 GUARDIAN IC 40.538.471,46
#23 IC ULTRA ALLIANCE 32.012.592,20
#24 European Travel Insurance 31.404.000,00
#25 INTER-POLICY 27.629.000,00
#26 ETALON 16.871.000,00
#27 IC ARSENAL 16.616.579,46
#28 INIC 14.353.186,05
#29 IC Misto 13.350.000,00
#30 IC CARDIF 12.691.105,23
#31 EXPRESS INSURANCE 12.574.755,30
#32 GRAWE UKRAINE 11.040.811,51
#33 IC TAS 8.345.169,87
#34 IC ASKO DS 8.167.100,00
#35 BUSIN 6.472.100,00
#36 MetLife 4.532.733,40
#37 IC RESPECT 4.391.370,00
#38 IC Suirya 3.936.000,00
#39 SKARBNYTSIA” 3.795.597,23
#40 IC Alfa-Garant 3.235.000,00
#41 Ukrainian agro-IC 1.107.930,49
#42 IC EXPO STRAHUVANNYA 800.756,51
#43 Profesional insurance 666.865,00
#44 IC Veles 388.882,88
#45 UTSK (IC UTICO) 329.058,60
#46 IC NADIYNA 254.800,00
#47 IC KVORUM 135.600,00
#48 INSURANCE GUARANTEES OF UKRAINE 36.000,00
#49 VELTA 8.000,00
#50 IC VIDI-STRAHUVANNYA 5.885,00
#51 IC UNIK 2.000,00
#52 IC MIR 1.875,00
#53 IC HARANT I YA 1.000,00
#53 DZHERELO STRAHUVANNYA 1.000,00

Insurance rating by lines of business for 2024

Claims paid

Rating for 2024

Other indicators

The market review was prepared by NAIU using data published by the National Bank of Ukraine and using data from the PDMA information exchange.
The use of the market review or its parts, ratings (including their elements), visualizations (including their elements) posted on this website without reference to NAIU is prohibited.

Brief overview of ukranian insurance market


9 months 2024

Insurance premiums NON-LIFE

  • Risk insurance premiums amounted to UAH 33.9 billion.
  • Market premiums in comparison with 9 months of 2023 increased by 11.2%.
  • Premiums of NAIU participants amounted to UAH 25.3 billion.
  • Premiums of NAIU participants increased by 23.3% compared to 9 months of 2023.
  • 61.7% of the market structure is “motor insurance” and 16.5% – “medical insurance”
  • The market share of NAIU participants in motor insurance is about 73%, and in health insurance about 80%.
  • The first 10 insurers by premiums for 9 months of 2024 account for 71% of all premiums, while in the TOP 10 – 9 insurers are members of NAIU

NON-LIFE rating for 9 months 2024

Insurance premiums

Claims paid NON-LIFE

  • Insurance payments under risk insurance amounted to UAH 13.9 billion.
  • Insurance payments compared to 9 months of 2023 increased by almost 26%.
  • NAIU participants paid more than UAH 10.3 billion. – this is about 74% of all claims paid
  • Insurance payments of NAIU participants increased by 31.2% compared to 9 months of 2023.
  • The largest share of insurance payments traditionally falls on “motor insurance” – UAH 9.5 billion, or 68.3%, and “medical insurance – UAH 3.3 billion, or 24.0%.
  • The first 10 insurers in terms of payments for 9 months of 2024 account for 72.5% of all payments, while in the TOP 10 – 9 insurers are members of NAIU

NON-LIFE rating for 9 months 2024

Claims paid

Useful observations NON-LIFE

  • «Motor insurance» more than 60% of all sales (that is, much more than half) come from the agency network. Thanks to the extensive and developed system of the insurers’ own networks, this indicator has reached such proportions, with only 6.8% falling on online aggregators, and 4.6% on car dealerships.
  • Government bonds– in the structure of acceptable assets of insurers (in order to maintain the appropriate level of solvency) occupy a significant share, namely UAH 21.7 billion, or 33.9%
  • «Health» – «+52,8%» an increase in insurance payments compared to 9 months of 2023, which is due to an increase in the “average check” and a significant increase in the frequency of appeals by insured persons, and the loss rate exceeded the 65% mark.

Insurance premiums LIFE

  • Insurance premiums for “life insurance” according to the results of 9 months of 2024 amounted to 4.0 billion UAH
  • Insurance premiums of the “life” market increased by almost 14% compared to 9 months of 2023.
  • Insurance premiums of NAIU participants increased by 15.5% and amounted to UAH 3.6 billion.
  • 90,1% all collected premiums belong to NAIU participants.

LIFE rating for 9 months 2024

Insurance premiums

Claims paid LIFE

  • Insurance payments based on the results of 9 months of 2024 amounted to 1,016 million hryvnias, which is 13.6% more than in 9 months of 2023
  • Insurance payments of NAIU participants amounted to 600.5 thousand hryvnias, which is 10.8% more than in the same period last year.
  • 826,2 thousand UAH., або 93,4% – paid NAIU perticipants.
  • Annuity insurance payments (payments are made over a certain period) amount to UAH 131.1 million, or 14.8% of all life market payments.
  • As of September 30, 2024, redemption payments amounted to 268.5 million, which is almost 35% more than in 9 months of 2023

LIFE rating for 9 months 2024

Claims paid

Useful observations LIFE

  • 87% – the share of NAIU participants in the eligible assets of “life” insurers
  • Periodic premiums (“current business”) – “+27.3%“, or UAH 582.6 million. Thus, according to the data of PRIMA exchange participants, the level of periodic payments increased by 27.3%, while such an indicator for 9 months of 2023/2022 showed a decline of 1.6%, which indicates the activation of old customers and trust in the life market 76% of insurance premiums in the “life” insurance market came through the agency network
  • Regarding the distribution of premiums for accumulative and risky life:
  • 33% – under contracts without an accumulation component
  • 67% – under contracts with an accumulation component (classic life)
  • “New” and “existing” businesses have a distribution of 25.7% (new contracts)/74.3% (existing).
  • As for the distribution of payments by “classic life” and “risky”, the payments fully correspond to premiums, namely 28.7% – “risky” and 71.3% – “classic life”.
  • For the first time, based on the results of 9 months of 2024, we can see the first sales of Life products by 1st and 2nd insurance classes by companies.
  • Premiums for such classes currently amount to a little over 3 million UAH and these are NAIU members

Insurance rating by lines of business for 9 months 2024

Insurance premiums

*Health insurance - sum of the business lines "Health (except health insurance)" and "Health (health insurance)"

Insurance rating by lines of business for 9 months 2024

Claims paid

*Health insurance - sum of the business lines "Health (except health insurance)" and "Health (health insurance)"

Rating for 9 months 2024

Other indicators

The market review was prepared by NAIU using data published by the National Bank of Ukraine and using data from the PDMA information exchange.
The use of the market review or its parts, ratings (including their elements), visualizations (including their elements) posted on this website without reference to NAIU is prohibited.

A brief overview of the ukranian insurance market


2023

Insurance premiums NON-LIFE

  • Insurance premiums for risk insurance amounted to UAH 41.8 billion, which is 20% more than in 2022. At the same time, it is only 5% less than the “pre-war” 2021.
  • As for NAIU participants, they traditionally demonstrate active growth. In 2023, the amount of premiums collected amounted to UAH 27.8 billion, which is 12.4% more than in 2022, and only 0.1% less than in “pre-war” 2021.
  • In general, NAIU members continue to hold leadership positions in the insurance market, which is confirmed by their market share in the main types, namely: about 70% in motor types of insurance, and 83% in health insurance.

NON-LIFE rating for 2023

Insurance premiums

Claims paid NON-LIFE

  • Claims paid increased by almost 29% compared to 2022. At the same time, the amount of payments for 2023 is only 9% less than in “pre-war” 2021.
  • The largest share of insurance payments traditionally falls on “motor insurance” (UAH 10.5 billion) and Health insurance (UAH 3.2 billion).
  • Claims paid for risk types of insurance in 2023 amounted to UAH 15.6 billion. Of these, more than UAH 11.0 billion (or 70.5%) were paid by NAIU members.

NON-LIFE rating for 2023

Claims paid

Useful observations NON-LIFE

  • Property insurance (property individuals) – increasing premiums + 43%, contracts + 357 648 pcs Real estate insurance, including against “war risks”, is a trend that persists throughout the year

  • Motor Casco (cars of individuals) – premiums + 33%, contracts + 181 133 pcs  – a significant increase in the number of concluded contracts with individuals indicates a growing demand for insurance programs, including those with coverage of “war risks”

  • Green card – premiums + 25,4%, contracts – 29 295 pcs –the smallest increase in premiums during 2023 (2022/2021 change in premiums +124.7%) indicates the stabilization of migration processes


Insurance premiums LIFE

  • The life insurance market, unlike risk insurance, recovers and grows at a slower pace. Thus, life insurance premiums for 2023 increased by 7% compared to 2022.
  • NAIU members, traditionally, as in risk insurance, recover faster. So, for 2023, premiums increased by 8%.

LIFE rating for 2023

Insurance premiums

Claims paid LIFE

  • Claims piad are growing at a much faster rate, and by the end of 2023 they amounted to UAH 1,266.8 million, of which UAH 1,199.5 million, or 94.7%, were paid by NAIU members. The increase in claims paid by NAIU members compared to 2022 is 45.6%.
  • In the IV quarter of 2023, insurance payments amounted to UAH 372.5 million, which is again the largest indicator of quarterly insurance payments in the last 3 years, including “pre-war” 2021.

LIFE rating for 2023

Claims paid

Useful observations LIFE

  • The share of NAIU members in the life insurance market by almost all indicators is more than 80%.
  • According to the data of PDMA exchange participants, the growth of new contracts on “risk insurance” (without the accumulative component) is 14.1%. At the same time, last year this indicator showed a decline of 44%.
  • Premiums for long-term savings insurance have continued to show a steady upward trend despite the ongoing war.
  • Payments of redemption sums among PDMA exchange participants decreased by 13%, which is a positive trend in general for the life insurance market.
  • In contrast to 2022, 2023 showed an increase in the number of insured persons under long-term accumulative insurance.

Insurance rating for 2023

Other indicators

The market review was prepared by NAIU using data published by the National Bank of Ukraine and using data from the PDMA information exchange.
The use of the market review or its parts, ratings (including their elements), visualizations (including their elements) posted on this website without reference to NAIU is prohibited.

A brief overview of the ukranian insurance market


9 months 2023

Insurance premiums NON-LIFE

  • Non-life insurance premiums amounted to UAH 30.5 billion, which is almost 22.0% more than in the same period in 2022, however, this result is still worse than in the 9 months of “pre-war” 2021 by 9.8%, but the trend towards growth is maintained.
  • As for the NAIU members, traditionally our participants demonstrate active recovery. For 9 m 2023, the amount of premiums collected amounted to UAH 20.4 billion, which is 15% more than in the same period in 2022.
  • In general, the majority of insurers participating in the NAIU continue to increase volumes, which is confirmed by the market share in terms of growth drivers, namely about 70% for motor types and 84% for health insurance

NON-LIFE rating for 9 months 2023

Insurance premiums

Claims paid NON-LIFE

  • Claims paid increased by 25.2% compared to the same period in 2022, but the market has not yet reached pre-war levels
  • The largest share of insurance payments naturally falls on Motor Casco (UAH 3.4 billion), OMTPL domestic (UAH 2.7 billion) and Health insurance (UAH 2.2 billion)
  • Claims paid for non-life insurance for 9 m 2023 amounted to UAH 11.1 billion, of which UAH 7.8 billion (or 70.2%) were paid by NAIU participants

NON-LIFE rating for 9 months 2023

Claims paid

Useful observations NON-LIFE

  • Property insurance (individual) – premiums + 242,8 millions UAH – real estate insurance against war risks, a trend that continues throughout the year

  • Liability (general) – premiums + 50,9 millions UAH (+8,2%)  – for the first time in 9 months of 2023, an increase in premiums is recorded, which may indicate a gradual recovery of international reinsurance programs

  • Green Card – premiums + 36% – the smallest increase in 2023 compared to previous reporting periods, which may be due to a slowdown in emigration processes


Insurance premiums LIFE

  • The life insurance market, unlike non-life insurance, is recovering at a slower pace.

  • Thus, life insurance premiums for 9 m 2023 increased by 2.8% compared to the same period in 2022.

LIFE rating for 9 months 2023

Insurance premiums

Claims paid LIFE

  • Claims paid are growing at a slightly faster pace, and as of 30.09.2023 amounted to UAH 894.3 million. In the third quarter of 2023 – UAH 318.2 million, which is the largest indicator of quarterly claims paid over the past more than 2 years, including the pre-war 2021 year.
  • The share of NAIU participants in the indicators of the life insurance market in all indicators is more than 80%
  • According to PDMA exchange participants, the increase in new clients for endowment insurance shows an increase of 27.5% compared to the same period in 2022.

LIFE rating for 9 months 2023

Claims paid

Useful observations LIFE

  • The share of NAIU participants in the life insurance market exceeds 80% in almost all indicators.

  • According to data from PDMA exchange participants, the growth of new contracts in “risk insurance” (without a savings component) amounts to 14.1%. Last year, this indicator showed a decline of 44%.

  • Premiums for long-term savings insurance continue their stable upward trend despite the ongoing war.

  • Surrender payouts among PDMA exchange participants have decreased by 13%, which is a positive trend for the life insurance market overall.

  • Unlike in 2022, the year 2023 showed an increase in the number of insured individuals under long-term savings insurance.

Insurance rating for 9 months 2023

Other indicators

The market review was prepared by NAIU using data published by the National Bank of Ukraine and using data from the PDMA information exchange.
The use of the market review or its parts, ratings (including their elements), visualizations (including their elements) posted on this website without reference to NAIU is prohibited.