The global capital of reinsurers in 2023 reached $729 billion
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.
There are 98 insurers and 39 insurance brokers working in Ukraine
The National Bank of Ukraine published data on the quantitative composition of the market of non-banking financial institutions for March 2024.
Insurance TOP has identified the leaders of the Ukrainian insurance market for 2023
Gross insurance premiums of Ukrainian insurers for January-December 2023 increased by 18.7% from UAH 39.6 billion to UAH 47 billion
The premium income of Ukrainian insurers increased in the 4th quarter
The National Bank of Ukraine presented the Overview of the non-banking financial sector for the 4th quarter of 2023
The number of insurance companies in Ukraine has decreased to 98 in 2024
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.
Global reinsurers remain optimistic about property reinsurance conditions
Top managers of reinsurance companies remain very optimistic about underwriting profits, terms and conditions of property catastrophe reinsurance coverage
Insurance mergers and acquisitions have slowed amid upcoming elections and market uncertainty
Last year did not bring revival in the market of mergers and acquisitions in the insurance sector.
Reinsurers predict that demand for political risk insurance will remain
Global reinsurers predict that 2024 will bring increased political risk due to a surge in planned elections around the world.
Cyber insurance carries significant risks for the financial stability of insurers
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 reinsurance contract extensions will make life difficult for new companies
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 reinsurers will recover to $561 billion in 2024
The total capital of international reinsurers will return to the level of 561 billion dollars in 2024.
In Ukraine, there are new requirements regarding the solvency of insurers and the formation of reserves
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.
AM Best rating agency compiled a list of the largest insurers
The international rating agency AM Best has compiled a rating of the largest insurance companies based on the premium income received in 2022.
The NBU established new requirements for the form and content of insurance contracts
The National Bank of Ukraine has determined the specifics of concluding insurance contracts with consumers by insurers and insurance intermediaries, in particular, new requirements have been established for the form and content of such contracts.
The insurance market will be under increased regulatory pressure regarding consumer protection
The future of the insurance market, including the Insurtech sector, is linked to increased scrutiny by regulators seeking to protect the interests of consumers.