The main indicators in January-June 2009 relative to the same period of 2008 underwent the following changes:
- Receipts decreased by 16% - to UAH 9,514 mln.
- Insurance payoffs/indemnities decreased by 3% - to UAH 3,275.5mln.
- Net insurance premiums decreased by 17% - to UAH 6,313.4 mln.
- Net insurance payoffs decreased by 10% - to 2,916.7 mln.
- Insurance reserves increased by 5% - to UAH 9,619.6 mln.
- Total assets increased by 18% - to 41,999.5 mln.
Insurance premiums
Between January and June 2009, total (gross) amount of insurance premiums received by insurers from insured and re-insured amounted to UAH 9,514 mln, including:
- UAH 2,754 mln. (28.9%) - premiums paid by individuals,
- UAH 4,195 mln. (44.1%) - premiums paid by legal entities,
- UAH 2,565 mln. (27%) - premiums received from reinsured.
Net insurance premiums (gross premiums minus premiums for internal re-insurance) amounted to UAH 6,313.4 mln, or 66.4% of total insurance premiums.
Re-insurance
Between January and June 2009, UAH 3,754.3 mln was paid for re-insurance (versus UAH 4,229.4 mln in the same period of 2008), including:
- UAH 3,200.5 mln to resident reinsurers (UAH 3,677.6 mln respectively);
- UAH 553.8 mln to non-resident reinsurers (UAH 551.8 mln respectively).
Reinsurance premiums accounted for 27% of the total amount of insurance premiums as of June 30, 2009:
- share of total reinsurance - 27% (versus 24.5% as of 30.06.2008);
- share of non-resident reinsurers - 1.4% (versus 1% as of 30.06.2008);
- share of resident reinsurers - 25.6% (versus 23.5% as of 30.06.2008).
Insurance payoffs/indemnities
Between January and June 2009, the total (gross) amount of insurance payoffs, including insurance and reinsurance, amounted to UAH 3,275.5 mln. Out of this amount, UAH 1,455.7 mln (44.8%) was paid to individuals, UAH 1,110.1 mln (33.9%) was paid to legal entities, and UAH 750.7 mln (21.3%) was paid to reinsured.
The loss ratio (ratio of gross payoffs to gross premiums) stood at 34.4% in the first half of 2009, which is up 15% compared to the same period of 2008.
Net loss ratio (ratio of net insurance payoffs to net insurance premiums) stood at 46.2% between January and June 2009, which up 9% compared to the same period of 2008.
The individual insurance loss ratio (ratio of payoffs to individuals to insurance premiums received from individuals) stood at 52.9% as of June 30, 2009, an increase of 12% in relation to the same period of 2008.
As of June 30, 2009:
- - total assets amounted to UAH 41,999.5 mln., an increase of UAH 6,437.8 mln. in relation to the same period of 2008,
- - assets determined by Article 31 of the Law of Ukraine "On Insurance" totaled UAH 22,947.1 mln., an increase of UAH 2.094.9 mln compared to the first half 2008,
- - paid-in authorized funds stood at UAH 13,627.1 mln; this is up 14% compared to the same period of 2008.
Tendencies in the Insurance Market in the First 6 months of 2009
Source: Information and analytical yearbook "Almanac" 2009
