Ukrainian insurers increased net profit and assets in 2024
The National Bank of Ukraine presented the Review of the Non-Banking Financial Sector for Q4 2024, according to which the total premium income of the risk insurance sector in Ukraine increased by 1% per quarter and by 15% for the whole year.
The growth in premium income of Ukrainian life insurers was 17% per quarter and by 5% per year.
According to the NBU, the assets of life insurers in Q4 increased by 5%, for 2024 this indicator increased by 14%. The assets of risk insurers increased by 3% and 11%, respectively.
The UkrStrakhuvannya Internet resource also learned from the NBU report that the total net profit of risk insurers in 2024 increased by 31% to UAH 2.5 billion, the profit of life insurers for the year more than doubled to UAH 1.4 billion, thanks to the largest life insurer in Ukraine with a premium income market share of about 50%.
According to the results of 2024, all insurers complied with the requirements for solvency capital and minimum capital.
Recall that the NBU updated the Regulation on establishing requirements for ensuring solvency and investment activities of an insurer.