Demand for property insurance against war risk is growing in Ukraine.

Ukrainian companies are developing new directions for property insurance during the war, but there will be no payments in the event of weapons of mass destruction being used.

Currently, the largest Ukrainian insurers have enough equity capital to ensure military risks and payments for individual policy holders, said the Retail Business Director of the INGO insurance company, Mykola Matyka. At the same time, he predicts that the demand for insurance products among Ukrainians will continue to grow.

“If in January-February 2024 sales of home insurance among individuals with war risk coverage increased by 150%, and the number of relevant requests increased by 200-300%, then in March of this year, we could see an increase even compared to the previous months”, he said.

At the same time, the expert believes there is still a shortage of these types of insurance solutions in the Ukrainian market.