Last year, the Ukrainian insurance market marked growth in all key indicators: assets, insurance premiums, and payouts. Total gross insurance premiums increased by 15%, reaching ₴53.1 billion. In particular, premiums for risk insurance rose to ₴47.4 billion.
This is reported by Business • Media
The transport insurance segment also shows positive dynamics: premiums for comprehensive car insurance (CASCO) grew by 3%, while those for mandatory third-party liability insurance (OSAGO) increased by 14%. However, it should be noted that premiums for the “Green Card” insurance continue to decline, decreasing by 10% quarter over quarter, as the number of Ukrainian cars traveling abroad decreases.
Trends in Personal Insurance and Insurers’ Assets
In the field of personal insurance, only life insurance demonstrated positive dynamics, growing by 17%. At the same time, health insurance premiums fell by 12%, and assistance (tourist insurance) experienced a decline of 34%. Premiums for liability insurance (+17%) and cargo and baggage insurance (+14%) also increased.
The assets of risk insurers grew to ₴46.1 billion, while insurance payouts reached ₴20.4 billion, including: life insurance payouts amounted to ₴1.4 billion, and risk insurance payouts totaled ₴19 billion. The payout ratio in 2024 rose to 40%. The increase in payouts has been ongoing since the beginning of 2023, primarily driven by inflation and the devaluation of the hryvnia.