Ukraine’s life insurance coverage corporations in 2019 collected UAH 4.624 billion of gross insurance coverage premiums, which is 18.4% greater than a yr earlier.
In response to the report on the web site of the Nationwide Fee for the State Regulation of Monetary Companies Markets, 97.1% of the entire insurance coverage premiums got here from people, 2.9% from authorized entities.
As of December 31, 2019, the variety of insured people elevated by 14.7%, to five.133 million.
Throughout this era, life corporations paid prospects UAH 575.9 million, which is 18.3% lower than in 2018.
The worth of modifications in life insurance coverage reserves amounted to UAH 1.017 billion, which is UAH 1.Four million lower than a yr earlier. The regulator additionally notes that the majority of the change in life insurance coverage reserves is fashioned below different accumulative insurance coverage contracts, specifically, UAH 898.9 million.
In 2019, seven life insurance coverage corporations acquired a damaging worth of enhance in life insurance coverage reserves for a complete of UAH 76.10 million, which is related to the early termination of insurance coverage contracts.
The rise in life insurance coverage reserves amounted to UAH 1.093 billion. The biggest enhance in insurance coverage reserves (greater than UAH 100 million) was declared by 4 life insurance coverage corporations within the quantity of UAH 574.Three million, UAH 169.6 million, UAH 146.Four million and UAH 122.Three million, respectively.
In response to the fee, the variety of life insurance coverage corporations in Ukraine on the finish of 2019 decreased to 23.
COLLECTION, INSURERS, LIFE