In October 2024, 509 financial companies (525 in September), 64 non-life insurers (66 in September), 11 life insurers (no change), one insurer with a special status, 113 pawnshops (114 in September), 110 credit unions (111 in September), 1 lessor (no change), 42 insurance brokers (no change), and 75 collection companies (no change) operated in the Ukrainian insurance and financial services market.
As of July 19, 2024, there were 73 risk insurers and 11 life insurers operating in the Ukrainian insurance market (as of June 30, 2024, there were 78 risk insurers, as of May 30, 2023, there were 115 insurers).
The Ukrainian insurance market continued to grow in 1H2024, showing positive trends in 2024 and improved financial results of insurers despite the war in Ukraine. The increase in gross insurance premiums, according to preliminary data, to UAH 20 billion (+15.5%), a high level of claims at 37% and positive financial results indicate the stable development of the national market.
The total amount of insurance claims amounted to UAH 8 billion (the share of the top 20 insurance companies in the market is 85% of the total amount of claims in the market). In terms of insurance types, the payments were distributed as follows: personal insurance (except life insurance) – UAH 1.8 billion, property insurance – UAH 3 billion, liability insurance – UAH 3.4 billion, and other insurance.
The number of non-bank financial market participants in September decreased from 946 (as of August 31, 2024) to 926 (as of October 1, 2024). The number of banks remained unchanged at 62.
The registers were forcibly removed from 16 financial companies, two insurers, and one pawnshop.
In September, the licenses of five financial companies and two insurers were forcibly revoked. At the same time, the National Bank of Ukraine approved a license reduction for 19 financial companies and two insurers.
In addition, the market recognized 18 banking groups (the number has not changed) and 30 non-banking financial groups (there were 31).
In September, the National Bank of Ukraine received 352 requests from market participants for registration and licensing actions. The number of inquiries concerning financial companies and insurers was 72, and banks – 30.