Overview of the insurance market of Ukraine
2025
Insurance premiums NON-LIFE
The results for 2025 highlight a remarkable surge in the Ukrainian non-life insurance market. Total gross written premiums (GWP) reached UAH 65.6 billion, representing a 41% increase compared to the previous year.
Motor Insurance: Remains the cornerstone of the market, accounting for 67.5% of the total volume. The MTPL (Motor Third-Party Liability) segment is particularly noteworthy, showing an extraordinary growth of +123%, with its share in the total portfolio reaching 35.1%.
Health Insurance: Firmly holds the second position with a market share of approximately 15.5%.
Market Concentration: The sector is characterized by high levels of consolidation. The TOP-10 insurers accumulate over 74% of all premiums. Notably, 9 out of the 10 leading companies are members of the National Association of Insurers of Ukraine (NASU).
The primary drivers of the market remain the NAIU member companies, whose growth rates consistently outpace the market average. By collecting UAH 52 billion in premiums (+45.5%), the Association secured a 79.2% share of the entire non-life segment. An even higher concentration is observed within the PDMA project, which accounts for 86.3% of the market.
NON-LIFE rating 2025
Insurance premiums
Claims paid NON-LIFE
In 2025, the insurance sector demonstrated high social efficiency by significantly expanding the scope of real financial protection. Total insurance claims paid to clients reached UAH 24.7 billion, a 30% increase over the previous year.
Segment Driver: MTPL (Motor Third-Party Liability) showed the highest growth dynamics in payouts, increasing by +47.7%.
Payout Portfolio Structure:
Motor Insurance (CASCO, MTPL, Green Card) remains the dominant category, accounting for 67.9% of all claims paid.
Health Insurance provided payouts totaling UAH 10.2 billion.
Property Insurance holds a 5.7% share of the structure (UAH 1.4 billion).
The market core remains stable and reliable. NAIU member companies accounted for 78% of all payouts in the country (UAH 19.2 billion). Notably, in 2025, all companies in the TOP-10 by payout volume (which collectively generate 75% of the market total) are members of the Association.
Furthermore, the share of PDMA project participants in total payouts reached 85%.
NON-LIFE rating 2025
Claims paid
Useful observations NON-LIFE
By the end of 2025, MTPL (Motor Third-Party Liability) has finally solidified its status as a key driver, accounting for 35% of the entire market. Premium volumes in this segment more than doubled (+122%):
The average policy cost reached UAH 3,313. This was a forced reaction to the sharp rise in repair costs – the average loss for 2025 amounted to UAH 45,050.
The upward trend in costs is only intensifying. As of the end of February 2026, the average payout increased to UAH 57,556.
The combined operating ratio decreased to 102.4%. This indicates that the market is close to an equilibrium point in the search for a “fair price” against the backdrop of a rapid increase in insurance payout amounts.
Traditional sales remain a priority – 57% of policies were sold through agency networks, while online aggregators crossed the 15% mark for MTPL.
In other lines of business, a “cautious” positive recovery is observed:
Travel Insurance. Premiums grew to UAH 1.8 billion (+67%), indicating an uptick in foreign travel; however, the combined operating ratio is still too high at 100.7%.
Health Insurance. With payouts exceeding UAH 5.6 billion, the segment demonstrates a “traditional” loss ratio of 70.6%.
Property Risks. Payouts increased by 83% (primarily due to war risk coverage). Despite the line’s unprofitability (combined operating ratio of 111%), insurers continue to provide property protection against the consequences of war. (excluding an anomalous outlier – a large loss of a single insurer)
From MTPL premiums alone, UAH 622.5 million was paid to the budget (+95% compared to 2024) in insurance income tax (3% tax) (this is more than a third of all industry tax revenues under the 3% rate).
Only 7 out of 47 non-life insurers recorded a net loss based on the 2025 results. The net profit of the non-life market amounted to UAH 4.9 billion.
Insurance premiums LIFE
The life insurance segment demonstrates a reserved but steady upward dynamic. Based on the results of 2025, companies accumulated UAH 6.2 billion in insurance premiums, which is 9.9% higher than the previous year’s figure (including health insurance).
The Life insurance market remains highly consolidated around NAIU members. Members of the Association control 92% of the segment, having collected over UAH 5.7 billion, while PDMA participants account for 97%.
An important trend has been the expansion of the product line of life insurers. In particular, the health component has already generated UAH 240.4 million in premiums (3.8% of the total volume). Although this share is still small, it indicates an active market transformation and the introduction of new classes of insurance.
LIFE rating 2025
Insurance premiums
Claims paid LIFE
- The life insurance segment in 2025 demonstrated a high level of financial discipline. Total payouts to clients amounted to UAH 1.8 billion, indicating the steady fulfillment of long-term contracts.
- NAIU members accounted for the lion’s share of market payouts — 95% (or UAH 1.7 billion). This confirms that the Association’s systemically important companies remain the primary guarantor of financial protection in the country.
- PDMA project participants — 99%
- Health insurance in the life sector currently remains a niche product — it accounted for only UAH 52.7 million in payouts. This indicates that classic endowment and risk life programs remain the core of the business.
LIFE rating 2025
Claims paid
Useful observations LIFE
- The life insurance sector demonstrates high capital concentration and operational efficiency. The volume of eligible assets of life insurers reached UAH 26.7 billion, creating a solid foundation for long-term customer trust.
NAIU members confirm their status as market guarantors, providing 95% of all payouts in the segment. - Despite challenging macroeconomic conditions, 80% of companies (8 out of 10) ended 2025 with a profit. This indicates high-quality risk management and the adaptability of business models.
- The market remains highly centralized — the top three leaders control 77% of the segment, with the single largest player accounting for nearly half of the market (~50%).
Business Structure and Development Vectors
- The traditional split between endowment and risk programs remains stable — 70% to 30%, respectively. Health insurance within the life segment currently remains a narrow niche.
- According to data from PDMA project participants, a positive dynamic in “in-force business” (recurring premiums)—contributions from clients who pay more than once—has been observed for several consecutive periods.
- Consequently, for 2025, there was an 11% increase in “in-force business” and a 13% increase in new business (i.e., new premiums in endowment).
Insurance rating by lines of business 2025
Insurance premiums
*Health insurance – the sum of the business lines “Health (excluding medical insurance)” and “Health (medical insurance)”
Insurance rating by lines of business 2025
Claims paid
*Health insurance – the sum of the business lines “Health (excluding medical insurance)” and “Health (medical insurance)”
Rating 2025
Other indicators
The market review has been prepared by NAIU using data published by the National Bank of Ukraine (Key performance indicators of insurers (by institution)) and data from the PRIMA information exchange.
The use of this market review or any of its parts, rankings (including their elements), and visualizations (including their elements) without reference to NAIU is prohibited.