By KYIV. Nov 18 (Interfax-Ukraine) – The expenses of Ukrainian insurance companies on advertising and marketing in January-September 2022 decreased by 2.2 times compared to the same period a year earlier, to UAH 31.7 million, according to the website of the National Bank of Ukraine.
According to the report, administrative expenses of insurers for the reporting period amounted to UAH 3.461 billion, which is 21.1% less than in the nine months of 2021 (UAH 4.384 billion), and their distribution costs decreased by 22.8%, to UAH 1.253 billion.
In addition, the costs of concluding and prolonging insurance contracts decreased by 24.3% – from UAH 8.665 billion in January-September 2021 to UAH 6.556 billion this year. In particular, expenses on agency fees decreased by 27.1%, to UAH 5.971 billion.
The cost of concluding and prolonging reinsurance contracts decreased by 43.1%, to UAH 37.5 million, including remuneration to brokers by 46.9%, to UAH 35 million, of which to non-resident brokers – by 9.9%, to UAH 19.2 million.
According to the regulator, during the reporting period, expenses for the settlement of insured events decreased by 32.2% – to UAH 239.6 million, and expenses for paying for the services of appraisers – by 37%, to UAH 73.7 million.
Assistance costs decreased by 33.5% and amounted to UAH 113 million. At the same time, payment for the services of non-resident assistance increased by 13.6% – to UAH 10 million.
It is also reported that the expenses of insurers for litigation in January-September 2022 amounted to UAH 21.5 million against UAH 40.9 million for the same period a year earlier.
Insurance companies of Ukraine for the specified reporting period collected net premiums in the amount of UAH 25.995 billion, which is 26.3% less than in the comparable nine months of 2021 (UAH 35.253 billion).
At the same time, the volume of gross insurance premiums amounted to UAH 26.755 billion (29.7% less), including premiums received from individuals amounted to UAH 16.651 billion, from reinsurers – UAH 880 million.
