Insurance companies of Ukraine in January-September 2017 collected net premiums amounting 20,791 billion, which is 6.1% more than in the same period of 2016, reported on the website of the National Commission, carrying out state regulation of market of financial services (Natskomfinuslug).
According to the regulator, the volume of gross insurance premiums collected by insurers for the period amounted to 31,391 billion (26.4% increase).
The Commission notes that the increase in gross insurance premiums occurred in almost all types of insurance: insurance of financial risks – 1,458 billion, or 58.6%; property insurance – UAH 988 million, or 35.2%; insurance against fire risks and natural disasters – 913,4 million, or 83%; insurance of cargo and baggage on 970,8 million UAH UAH, or by 57.3%; auto CASCO, OSAGO, “Green card” – on 921,7 million, or 13.6%; health insurance – 362,3 million, or 20.2%; the insurance of responsibility before third parties on 694,7 million, or by 54 .6%; accident insurance – 309,6 million, or 51.9%; aviation insurance – 226,3 million, 55.6 per cent.
The proportion of net insurance premiums gross insurance premiums for the first nine months of this year decreased by 12.6 p. p. index nine months of last year to 66.2%.
For the period of the current year the insurers paid 7,154 billion of net insurance payments, which is 18.4% more than the year before. The level of net payments has increased from 30.9% to 34.4%
According to the financial services Commission, gross insurance payments increased by 17.6% to 7,375 billion. The level of indemnities has decreased from 25.2% to 23.5%.
The high level of gross and net insurance payments will occur for the health insurance of 55.5% and 59.1 per cent respectively, according to the types of voluntary personal insurance of 38% and 41.6%, according to the types of non-state compulsory insurance -36,4% and 36.7%, respectively (on compulsory insurance of civil liability of owners of vehicles of 42.6% and 46.1%).
According to the Commission, the operations outward reinsurance in the first nine months of this year increased by 56.7% to 13,261 billion. The reinsurance in the country increased 2.1 times – up to UAH 10.6 billion, with reinsurers-non-residents decreased by 16.9% to 2,662 billion.
Receipt of insurance premiums from insurers-non-residents decreased by 10.9% to UAH 23.7 million. The regulator also notes that during this period the volume of formed insurance reserves increased by 12% to 21,804 billion. The technical reserves increased by 14.8% to 13,753 billion, and the reserves for life insurance increased by 7.4% to 8,052 billion.
However, the increase is 2.6% of the total assets of insurers assets defined by law for the submission of means of insurance reserves increased by 3.1% to 33,787 billion. The volume of paid authorized capital increased by 1.8% – up to 12,758 billion.
The regulator also reported that in January-June 2017 the number of insurance agreements (except mandatory insurance from accidents in transport) increased by 2.2 times – up to 35,351 billion. In addition, 83% increase in the number of insurance contracts with individuals to 49,820 million
According to the financial services Commission, the total number of insurance companies in Ukraine as of September 30, 2017 was reduced by 27 and is 296, including SK life – 34 (over 9 months. 2016 – 43), SK “non-life” – 262 (280).