Ukraine’s path to the European Union is not only about political decisions but also about the implementation of high standards of financial protection and stability. The National Association of Insurers of Ukraine (NAIU), represented by General Director Denys Yastreb, has signed a Memorandum of Understanding with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
The partnership is being implemented within the framework of the international technical assistance program “Support for Ukraine’s EU accession process in the economic sector (STEP IN 2 EU)”. This is a landmark event for the entire financial ecosystem, as NAIU has become the first representative of the Ukrainian insurance market to conclude such an agreement with GIZ.
The main objective of our cooperation is to support the institutional capacity of NAIU and provide expert assistance to Ukrainian insurers in the process of implementing European regulatory requirements.
A separate important focus is placed on expanding access to high-quality insurance services for small and medium-sized enterprises (SMEs). The availability of reliable insurance protection is a critical condition for business development and promoting the export of Ukrainian goods to EU markets.
The Memorandum outlines comprehensive cooperation in the following key areas:
Educational and expert initiatives. Joint conduct of training programs, seminars, workshops, and expert missions. This will help deepen insurers’ competencies regarding EU integration and the implementation of relevant directives.
Creation of dialogue platforms with business. Launching a direct dialogue between insurance companies and SME representatives to identify real business needs and overcome existing limitations.
Communication with the regulator. With the support of GIZ, a platform will be created for regular feedback between insurers and the National Bank of Ukraine (NBU). This is crucial for effectively discussing regulatory reforms on the path to EU accession.
Integration into ecosystems. Involvement of NAIU in the activities of the “SME Resilience Alliance,” which is supported by the German government.
Thanks to the financial, expert, and technical support from GIZ, a significant increase in the qualifications of market participants and the quality of insurance services is expected. This, in turn, should lead to providing Ukrainian small and medium-sized businesses with reliable tools for development.
Today, Ukrainian insurance is a solid foundation for protecting and scaling businesses in Ukraine and the EU. Our immediate plans include the launch of educational initiatives on the implementation of European directives and the active development of platforms for interaction between insurers, entrepreneurs, and the regulator.
Building the European insurance market of Ukraine together!
