Investments in the global InsurTech sector will reach $1.1 billion in the third quarter of 2023. This was mainly driven by a 25.5% quarter-on-quarter increase in funding to the property insurance sector.
After February 24, 2022, the situation with investing in Ukraine changed significantly, as foreign investors faced new risks in Ukraine related to the military aggression of the Russian Federation in Ukraine.
Total losses were in line with the five-year average, while insured losses were slightly below the average figure of $105 billion.
On January 1, 2024, the Law of Ukraine on insurance of investments against war risks through the Export Credit Agency (ECA) entered into force
The International Association of Insurance Supervisors (IAIS) has published its Global Insurance Market Report 2023 (GIMAR), which highlights the key risks and trends shaping the global insurance sector.
Reinsurers report increased demand for property reinsurance in 2024 Renewals of reinsurance contracts from January 1, 2024 are much more orderly than a year ago
The year 2023 was characterized by geopolitical turbulence, inflationary pressures and events related to global warming.
The first projects related to the mechanism for reducing the cost of marine transportation insurance in the territorial waters of Ukraine are already being implemented together with the insurance market, which contributes to the safety of marine transportation and increasing the volume of Ukrainian exports.
The Amwins Reinsurance Market State and Forecast to 2024 report shows that the reinsurance landscape is undergoing little change with notable rate growth in the property and casualty reinsurance sectors.
Global economic growth will slow in 2024 due to tightening monetary policy and weakening growth rates.
S&P Global raised its rating on the global reinsurance sector from negative to stable due to higher reinsurance rates and rising investment returns, while Moody's kept its outlook for the sector stable.
The Verkhovna Rada of Ukraine adopted draft law No. 9015 on the insurance of investments in Ukraine against military risks.
Overall global insurance premium growth is forecast at 2.2% annually on average over the next two years, higher than the five-year average (2018-2022: 1.6%)
The Government of Ukraine is cooperating with key international institutions to create favorable conditions for investing in Ukraine right now.
Insurers identified key trends that will shape the insurance landscape in 2024.
