NON-LIFE INSURERS PARTICIPATING IN OPEN INSURANCE PROJECT RAISE PREMIUMS BY 19.6%, PAYMENTS BY 31.1% IN JAN-SEPT – LIOU
Date: 13.11.2018. Section: Press Review, Trends in Insurance, TopInsurance 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-September 2018 increased gross insurance premiums by 19.6% compared to the same period in 2017, to UAH 7.7 billion, according to the LIOU’s website.
Gross insurance payments in the nine months of 2018 rose by 31.1%, to UAH 2.8 billion.
The total amount of insurance reserves as of September 30, 2018 grew by 40%, to UAH 5.5 billion.
The assets of insurance companies participating in the Open Insurance project amounted to UAH 11.5 billion (19.8% up), and the total net worth to UAH 4.5 billion (4.6% more).
In the structure of gross insurance premiums for the nine months of 2018, the largest share belonged to the types of voluntary property insurance with UAH 3.742 billion (48.8%), personal insurance (except for life insurance) with UAH 1.869 billion (24.4%), non-state compulsory insurance with UAH 1.676 billion (21.8%), voluntary liability insurance with UAH 386.8 million (5%).
In the structure of gross insurance payments, the largest share belongs to the types of voluntary property insurance with UAH 1.281 billion (46.3%), voluntary personal insurance (except for life insurance) with UAH 872 million (31.5%), non-governmental compulsory insurance with UAH 599.3 million (21.7%), and voluntary liability insurance with UAH 14.2 million (0.5%).