UKRAINE’S INSURERS SEE OSAGO PREMIUMS RISE BY 20.6%, PAYMENTS BY 12.5% IN JAN-SEPT

UKRAINE’S INSURERS SEE OSAGO PREMIUMS RISE BY 20.6%, PAYMENTS BY 12.5% IN JAN-SEPT

The insurance companies of Ukraine that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-September 2018 increased collection of premiums for compulsory vehicle owners’ civil liability (OSAGO) by 20.6% compared with the same period in 2017, to UAH 3.322 billion.

According to the MTIBU’s website, the number of OSAGO contracts for the nine months increased by 4.4%, to 5.859 million.

The total volume of insurance claim fee payments under internal insurance contracts, according to the MTIBU, rose by 12.5%, to UAH 1.557 billion. In particular, UAH 244 million was paid using EU accident report forms, which is 49% more than in January-September 2017.

The bureau also recorded the reduction in the number of settled claims for insurance compensation by 0.9%, to 98,422, of which 27,720 (an increase of 27%) using EU accident report forms.