Managers of insurance companies, banks and non-bank financial institutions have improved their own assessments of the financial sector's resilience to significant negative events for two years in a row.
The relevant decision was adopted by the Committee on Supervision and Regulation of Non-Banking Financial Services Markets on April 19, 2024.
This volume is largely due to the activity of convective storms in the USA.
The global reinsurance industry is expected to grow 12% year-over-year to $729 billion in 2023 on the back of higher year-over-year profitability.
The National Bank of Ukraine published data on the quantitative composition of the market of non-banking financial institutions for March 2024.
Gross insurance premiums of Ukrainian insurers for January-December 2023 increased by 18.7% from UAH 39.6 billion to UAH 47 billion
The National Bank of Ukraine presented the Overview of the non-banking financial sector for the 4th quarter of 2023
In February, the number of non-bank financial market participants increased from 1,058 (as of January 31, 2023) to 1,060 (as of February 29, 2024), the number of banks remained unchanged at 63.
Top managers of reinsurance companies remain very optimistic about underwriting profits, terms and conditions of property catastrophe reinsurance coverage
Last year did not bring revival in the market of mergers and acquisitions in the insurance sector.
Global reinsurers predict that 2024 will bring increased political risk due to a surge in planned elections around the world.
Cyber insurance can pose significant risks to the financial stability of insurers and reinsurers, because cyber risks are a complex product that requires specialized knowledge and experience.
The results of the extension of the reinsurance contracts, which passed on January 1, will make life difficult for new companies hoping to enter the reinsurance market and benefit from favorable market conditions and high tariffs.
The total capital of international reinsurers will return to the level of 561 billion dollars in 2024.
The National Bank of Ukraine has established requirements for the solvency of insurers, the formation of technical reserves, the accounting of insurance contracts and the protection of information.
