By KYIV. Nov 28 (Interfax-Ukraine) – The insurance company MetLife (Kyiv) in January-September 2023 increased the collection of premiums by 14% compared to the same period in 2022, to UAH 1.7 billion, of which 89% were payments under endowment insurance contracts, the insurer said in its press release.
In addition, with reference to data from the National Bank of Ukraine, MetLife’s share of the life insurance market during this period grew by 4.4% and by the end of September 2023 reached 48.4% of the total volume of premiums of the entire sector.
MetLife is the market leader in the number of clients: over nine months, 591,000 life insurance contracts were concluded, and the number of insured people by September 30 reached 889,000 people.
During January-September of this year, the company made payments to clients for 17,500 insurance events for a total amount of UAH 379.2 million. At the same time, payments in favor of clients were 42.4% of the total volume of payments in the Ukrainian life insurance market.
In addition, MetLife continues to make individual payments to civilian customers affected by military operations. From the beginning of the full-scale war until October 1, 2023, a decision was made to pay for 2,172 such events for a total amount of UAH 41.7 million.
The insurer’s assets as of September 30, 2023 reached UAH 7.3 billion (27% more compared to the first nine months of 2022), which was 31.6% of the sector’s total assets. Insurance reserves grew by 23%, to UAH 5.8 billion and reached 30.9% of the total reserves of the life insurance market.
The company’s net profit in January-September 2023 came to UAH 321 million.
