Ukraine’s insurance market continues to recover, showing steady growth.

Friday, April 4, 2025
Ukraine’s insurance market continues to recover, showing steady growth.

Last year, the Ukrainian insurance market demonstrated an increase in all key indicators: assets, insurance premiums, and payments. Total gross insurance premiums rose by 15%, reaching ₴53.1B, primarily from risk insurance, which contributed ₴47.4B. In transport insurance, premiums grew by 3% for CASCO and by 14% for OSACV. Meanwhile, premiums for Green Card driving insurance continued to decline, dropping by 10% quarter-on-quarter, as fewer Ukrainian cars travel abroad.

In personal insurance, only life insurance (up 17%) exhibited positive dynamics, while health insurance premiums fell by 12% and assistance (tourism insurance) decreased by 34%. Premiums for liability insurance increased by 17%, and cargo and baggage insurance saw a rise of 14%.

Risk insurers’ assets grew to ₴46.1B. Insurance payments rose to ₴20.4B, specifically: life insurance payments amounted to ₴1.4B, while risk insurance totaled ₴19B. The payment level in 2024 increased to 40%. Furthermore, the uptrend in payments has persisted since early 2023, primarily due to inflation and the hryvnia’s devaluation.

 

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