NON-LIFE INSURERS PARTICIPATING IN OPEN INSURANCE PROJECT COLLECT UAH 2.5 BLN OF PREMIUMS IN JAN-MARCH 2018 – LIOU
Date: 17.05.2018. Section: Press Review, Trends in Insurance, Top
Ukrainian insurance companies that are members of the League of Insurance Organizations of Ukraine (LIOU), specializing in risk insurance and participating in the Open Insurance project, in January-March 2018 collected UAH 2.5 billion of insurance premiums, according to the LIOU website.
The largest share in the structure of gross insurance premiums is that of voluntary property insurance with UAH 1.4 billion (56.5%), voluntary personal insurance (excluding life insurance) with UAH 600 million (22.7%) and non-government compulsory insurance with UAH 400 million (15.6%). Gross insurance premiums for voluntary insurance in January-March 2018 amounted to UAH 100 million (5.2%).
In January-March 2018, gross insurance claim fee payments over the period amounted to UAH 800 million.
The largest share in the structure of gross insurance payments was that of voluntary property insurance with UAH 300 million (41.1%), voluntary personal insurance (except for life insurance) with UAH 300 million (34.2%), non-government compulsory insurance with UAH 200 million (24.1%) and voluntary responsibly insurance with UAH 5 million (0.6%).
KASKO premiums of the Open Insurance project participants totaled UAH 479.7 million in January-March 2018. Gross payments in claims reached UAH 277.3 million. The level of settling the payments was 57.8%.
As for voluntary medical insurance, premiums amounted to UAH 405 million and gross payments in claims – UAH 244.4 million. The level of settling the payments was 60.3%.
OSAGO premiums reached UAH 255.7 million and payments in claims – UAH 171.6 million. The level of settling the payments was 67.1%.
The insurance companies participating in the Open Insurance project are Azinco, Alfa Insurance, Alliance, Arsenal Insurance, ViDi Insurance, Globus, Euroins, Interexpress, Inter-plus, Naftogazstrakh, NIKO Insurance, PZU Ukraine, Providna, PRO100-Strakhuvannia, Raritet, Tekom, Ukrfinstrakh, UNIQA and USI.
The Open Insurance project was founded by the League of Insurance Organizations of Ukraine in 2008 with the aim of improving the standards for disclosing information on the activities of insurance market participants, publicly announcing financial indicators, observing the policy of transparent activities and access to information.