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.
The international rating agency AM Best has compiled a rating of the largest insurance companies based on the premium income received in 2022.
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 future of the insurance market, including the Insurtech sector, is linked to increased scrutiny by regulators seeking to protect the interests of consumers.
The National Bank of Ukraine published a new report on the quantitative composition of the market of non-banking financial institutions for November 2023.
The insurance market of Ukraine for January-September 2023, according to the Insurance TOP magazine, showed a growth of 20.2%. The total amount of gross insurance premiums for 9 months increased from UAH 28.4 billion to UAH 34.14 billion.
The global insurance industry suffered $50 billion in losses from natural catastrophes in its worst start to the year since 2011, underscoring the challenge facing the sector from global warming.
The National Bank of Ukraine announced a public discussion of the draft resolution of the Board of the National Bank of Ukraine "On approval of the Regulation on requirements for the management system of the insurer".
The global average annual loss from natural disasters is $133 billion
The transition period in the non-banking financial market after the transfer of the functions of its regulator from the National Financial Service Commission to the National Bank of Ukraine (NBU) is ongoing from July 1, 2020, and it will take about a year to restore order
The number of non-bank financial market participants decreased from 1,234 (as of August 31) to 1,215 (as of September 30) in September, while the number of banks remained unchanged at 64.
Three Black Sea ports are once again receiving ships that will guarantee Ukrainian exports.
Global reinsurance rates will continue to rise in 2024, albeit at a slower pace than in 2023, and prices will begin to decline in 2025
