By KYIV. Nov 16 (Interfax-Ukraine) – Companies specializing in life insurance in Ukraine collected premiums of UAH 3.569 billion in January-September 2023, which is 2.7% more than in the same period in 2022 (UAH 3.475 billion).
As reported on the website of the National Bank of Ukraine (NBU), most of the payments received, namely UAH 3.407 billion, came from individuals, which is 2.7% more than in the nine months of last year, from legal entities – UAH 159.5 million. Insurance payments to reinsurers reached UAH 86.1 million versus last year’s UAH 80.3 million.
Life insurance reserves at the end of the reporting period came to UAH 18.781 billion, which is 12.9% more than a year earlier, including reserves for long-term insurance contracts – UAH 17.997 billion.
Investment income, which is used in calculating insurance rates, reached UAH 359.1 million compared to UAH 322 million last year. The share of reinsurers in life insurance reserves at the end of the reporting period was UAH 367.7 million (17.4% less).
Insurance payments totaled UAH 839.8 million (44.6% more), of which UAH 831.1 million were made to individuals (45% more).
The National Bank reported that the life insurance company’s clients at the end of the reporting period were 3.953 million people, which is 13.5% less than at the same date in 2022, of which 1.033 million people were insured during the reporting period (nine months of 2022 it were 1.138 million people).
The maximum insured amount fixed for an individual insurance person is UAH 57.4 million.
According to the NBU, as of September 30, 2023, 12 insurance companies specializing in life insurance were registered in Ukraine, compared to 13 insurance companies as of the same date a year earlier.
