Personal insurance in Ukraine surpassed corporate insurance for the first time

In January-June 2017, the population of Ukraine was provided with insurance services worth UAH 6.982 billion, which is UAH 924 million, or 15.3% more than in the same period in 2016, the Interfax-Ukraine agency was informed. member of the National Financial Services Committee Oleksandr Zaletov.

"This led to the fact that for the first time the volumes of insurance by individuals exceeded the volumes of corporate insurance by UAH 323 million or 4.8%," he emphasized.

He also noted that the leaders of retail insurance in the first half of 2017 were not such types as: Motor civil - UAH 1.533 billion (UAH 1.430 billion for the six months of 2016), CASCO - UAH 1.38 billion (UAH 1.212 billion), life insurance - UAH 1.183 billion (UAH 1.240 billion), VHI - UAH 507 million (UAH 455 million), accident insurance - UAH 430 million (UAH 321 million), property insurance - 409 million UAH (326 million UAH), liability insurance - 344 million UAH (237 million UAH), "Green Card" - 342 million UAH (367 million UAH), medical expenses insurance - 321 million UAH (342 million UAH) and illness insurance - 162 million UAH (107 million UAH).

According to A. Zaletov, if in previous years the growth of retail insurance was mainly driven by the currency component, this year the growth is associated, first of all, with the activation of car sales, the correction of insurance tariffs and the increase in the population's demand for meeting medical needs. Further development of retail insurance will require insurers not only innovative insurance products and technological solutions, but also adequate solvency and customer orientation.

Source: Interfax-Ukraine