Insurance market of Ukraine decreases by 27 companies, to 128, in 2022

KYIV. Jan 11 (Interfax-Ukraine) – The total number of insurance companies in Ukraine as of December 31, 2022 decreased to 128 from 155 on the same date a year earlier, with 116 of them specializing in risk insurance and 12 in life insurance.

According to the website of the National Bank of Ukraine, in December 2022, some 63 participants in the non-banking financial services market were excluded from the registers. Of these, 30 were voluntarily excluded: one insurer, three pawnshops, three credit unions, three leasing companies and two insurance brokers. And 16 financial companies, one insurer, one pawnshop, one credit union and two leasing companies – forcibly.

All licenses were canceled voluntarily (based on applications submitted by the participants) for 31 financial companies, one insurer, five pawnshops, three credit unions and four leasing companies, while those of ten financial companies, one pawnshop and one leasing company were forcibly canceled as a measure of enforcement. In addition, part of the licenses of 13 financial companies and one insurer were canceled voluntarily, while for three other financial companies – forcibly.

During December, the licenses of 26 financial companies, two insurers, two pawnshops and nine leasing companies were suspended. At the same time, the licenses of one financial company, one pawnshop and one leasing company were renewed.

As of December 31, some 116 non-life insurers (in November there were 117) and 12 life insurers (13), 183 pawnshops (187), 162 credit unions (166), 98 leasing companies (103), 760 financial companies (806), 61 insurance brokers (63) and 67 collection companies (the number has not changed) operated on the non-banking market.

In addition, 25 banking groups (24 in November) and 23 non-banking financial groups (the number has not changed) work on the market.

There are 38 national payment systems operating in the payment market, including state ones, and 16 international payment systems.

The number of banks has not changed and is 67.

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