Health insurance is becoming one of the main drivers of the insurance market
Health insurance showed the most noticeable growth among mass products. Premiums for this type increased by 32.4% quarter-on-quarter and by 22.5% year-on-year. Insurers collected UAH 3.1 billion in premiums and paid UAH 1.6 billion in compensation during the quarter.
The NBU associates the growth in premiums with the renewal of corporate contracts and the increase in the price of voluntary health insurance. The growth of the segment is formed due to the inflation of medical services, revision of programs, an increase in the average check and a change in the expectations of corporate clients.
The sales channel in health insurance is more balanced than in motor types. The agent network generates 48% of premiums, direct sales 24%, brokers 16%, banks 10%, online aggregators 1%, other channels 1%. This structure indicates a strong role of the corporate channel, where the broker and direct contact with the insured have a higher weight than in retail motor insurance.
For VHI underwriting, the main risk in 2026 is the lag of tariffs from medical inflation. If premiums increase due to contract renegotiation, but programs are not reviewed for limits, deductibles, clinic networks and contract exceptions, unprofitability can quickly go into an uncontrolled mode.
Outpatient programs with low deductibles, dentistry, diagnostics, chronic conditions and corporate contracts with wide access to private clinics remain particularly sensitive.