03.12.2008, 16:10
Ukrainian SCRMFS Announced Situation on Insurance Market in 9M2008
OREANDA-NEWS On 03 December was announced, that according to the Ukrainian State Commission for Regulating Markets of Financial Services, in 9M2008 the domestic insurers collected UAH 17.4bn of Gross Premium Written (GPW), which rose by 40.8%, y/y. At the same time total payments on claims increased by 78.2%, y/y, to UAH 5.1bn. This resulted in the loss ratio of 29.2%. Worth noting is that the share of life insurance rose by 10 b.p. y/y to 4.5%, while its loss ratio was negligible (3.2%). The share of retail insurance was 33% in total GPW (up 50b.p. y/y).
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