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.