Ukraine Insurance Market Intelligence: 2011 Edition

Date: January 22, 2011
Pages: 22
Price:
US$ 600.00
Publisher: Koncept Analytics
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: U320BCE857FEN
Leaflet:

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Ukraine Insurance Market Intelligence: 2011 Edition
Ukraine, like many other countries, is faced with exceptional economic challenges, with the national economy contracting by around 15% in 2009 alone. The weak economic status of the country has also affected the growth of its insurance industry. The industry premiums recorded a decline of 14.9% in local currency in 2009. Both its key segments, life and non-life insurance, recorded a decline but the maximum decline was recorded in the life segment.

The country is relatively underdeveloped in terms of insurance penetration and the sector is anticipated to see sustained growth in future on the back of increased economic activity. Life insurance segment accounts for a very small market share because most of the Ukrainian population is unaware about the importance and benefit of insurance coverage.

Declining unemployment rate, improving living standard, rising savings rate, increasing disposable income are some of the important factors which are driving investments in various sectors like real estate, automobiles, etc. and thus fuelling the growth of the Ukrainian insurance industry. In order to fuel the growth of the insurance industry, insurers need to increase consumer awareness and earn their trust regarding the benefits of these products. In addition, they should also launch innovative and attractive products, and improve their distribution channels.
1. INDUSTRY SNAPSHOT

1.1 Industry Structure
  1.1.1 League of Insurance Organizations of Ukraine- Authoritative Association
  1.1.2 Less Demand of insurance policies, Life Segment Almost Non-Existent
1.2 Market Overview
  1.2.1 Market Size & Growth
    1.2.1.1 Decline in Insurance premiums due to economic crisis
    1.2.1.2 Rise in Demand for Motor hull insurance, life insurance and optional medical insurance
    1.2.1.3 Growth in obligatory insurance of vehicle owner civil liability to third parties agreements (OSAGO)
  1.2.2 Market Segments
    1.2.2.1 Under-penetrated life insurance sector offers huge potential
    1.2.2.2 Decrease in compulsory motor third party liability insurance contracts
    1.2.2.3 Rise in payout ratio in 2009
  1.2.3 Market Density & Penetration
    1.2.3.1 Insurance penetration almost negligible
    1.2.3.2 Low demand of voluntary medical insurance & accident insurance
  1.2.4 Market Share
    1.2.4.1 Highly fragmented insurance industry with many players
    1.2.4.2 Claims ratio of voluntary health insurers rose over 100%

2. INDUSTRY ANALYSIS

2.1 Industry Developments
  New Tariffs and Conditions for OSAGO
  LIOU and URA Signed a Cooperation Agreement
  Insurance Federation signs cooperation agreement with VAAID
  Insurance Federation sets up Agrarian Insurance Bureau
2.2 Market Drivers
  Expanding economy
  Decreasing Unemployment Rate
  Improving Living Standard
  Motor Insurance

3. COUNTRY ANALYSIS: RISK ASSESSMENT

3.1 Political Environment
3.2 Macro-economic Indicators: Current and Projections

4. INDUSTRY OUTLOOK: FORECAST AND PROJECTIONS

4.1 Political instability, contraction of economy and required reforms in motor insurance will affect growth in insurance premiums
4.2 Focusing on life insurance by targeting old age population and providing good returns

LIST OF CHARTS

Annual Premium – Ukraine Insurance Industry: 2003-2009
Annual Premium – Ukraine Insurance Industry: Q110 Vs. Q109
Ukraine Insurance Premium Share (%) by Segment – 2009
Ukraine Insurance premium by segment – 2003-2009
Ukraine Insurance Premium Share by Segment – Q110
Ukraine Insurance Density: 2002–2009
Ukraine Insurance Penetration (%): 2002–2009
Ukraine Top 10 Insurers by Premium (US$ Million): 2009
Ukraine: Major Life Insurer’s Market Share (%): 2009
Ukraine Top 10 Voluntary Health Insurers – Claims Paid (US$ Million): 2009
GDP Growth of Ukraine: 2002-2009
Ukraine Unemployment Growth Rate (%) (2002-2009)
Ukraine: New Registration of Motor Vehicles & Cars (2003 – 2009)
Forecast: Ukraine Insurance Industry: 2009A – 2013E
Forecast: Ukraine Life & Non-Life Insurance Industry: 2009A – 2013E

LIST OF TABLES:

Ukraine Income of Households: (2005-2009)
Disposable Income (DI), & Average Monthly DI Per Capita: (2005 – 2009)
Key Macroeconomic Indicators: (2009 – 2013F)
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