Ukraine Insurance Report 2012

Date: November 22, 2011
Pages: 60
US$ 1,175.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download

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Ukraine’s insurance sector enjoys few of the strengths of its counterpart in Russia and all of the weaknesses. As a result of a variety of problems – poverty, lack of understanding of the advantages of insurance, lack of trust in local insurance companies in particular and in the general economic/financial environment – the insurance sector is growing in terms of gross written premiums, but not in terms of most other metrics. Unlike in any other market in Central and Eastern Europe, no player has a dominant market share – whether in the non-life or the life segment. For the foreign multi-nationals who have taken the trouble to buy or establish an operation in Ukraine, their business in the country is invariably a very minor part of a larger organisation. It is not a market that they necessarily have to remain in.

The life segment barely exists. Some – but not all – of the multi-nationals who are committed to building a regional business across Central and Eastern Europe are present. However, in a country where the average person spends less than US$5 on life insurance, it is clear that the constraints and obstacles are huge.

Most of the over 400 insurance companies that operate in Ukraine are active in the non-life segment. Since the end of 2010, the number of players has been falling. So too has been the capital that is allocated to the segment and the total assets of the insurers. Unlike in most underdeveloped non-life markets, the key lines are not motor-related, but pertain to various aspects of voluntary property insurance. To a greater extent than in other countries, it is possible that many of Ukraine’s (generally tiny) non-life companies are effectively captives or investment companies. Certainly, the few hard numbers that are available indicate that demand for inwards reinsurance is relatively high. In the meantime, though, only 15% of Ukrainians actually use insurance.
Executive Summary
  Table: Ukraine’s Total Premiums, 2008-2016
Key Insights And Key Risks
SWOT Analysis
Ukraine Insurance Industry SWOT
Ukraine Political SWOT
Ukraine Economic SWOT
Ukraine Business Environment SWOT
Central And Eastern Europe Life Sector Overview
  Table: Central And Eastern European Life Premiums, 2009-2016 (US$mn)
Ukraine Life Sector Update
  Table:Selected Life Insurance Companies
Life Industry Forecast Scenario
  Table: Ukraine’s Life Premiums, 2008-2016
Growth Drivers And Risk Management Projections
  Table: Ukraine’s Insurance Sector Key Drivers – Demographics, 2008-2016
Central And Eastern Europe Non-Life Sector Overview
  Table: Central And Eastern European Non-Life Premiums, 2008-2016 (US$mn)
Ukraine Non-Life Sector Update
Non-Life Industry Forecast Scenario
  Table: Ukraine’s Non-Life Premiums, 2008-2016
Macroeconomic Outlook
  Table: Ukraine Economic Activity, 2008-2015
Political Stability Outlook
  Table: Europe Security Risk Ratings
  Table: Ukraine’s Insurance Key Drivers, Disability-Adjusted Life Years 2009-2016
  Table: Ukraine’s Insurance Key Drivers, Autos 2008-2015
  Table: Ukraine’s Insurance Key Drivers, Tourism 2008-2015
Insurance Risk/Reward Ratings
  Table: Ukraine’s Insurance Risk/Reward Ratings
  Table: Central And Eastern Europe Insurance Risk/Reward Ratings
Competitive Landscape
Competitive Landscape Analysis
Major Players In Ukraine’s Insurance Sector
  Table: Selected Non-Life Companies
  Table:Selected Life Insurance Companies
Company Profiles
Regional Company Profiles
BNP Paribas Cardif
Vienna Insurance Group
BMI Methodology
Insurance Risk/Reward Ratings
  Table: Insurance Risk/Reward Indicators And Rationale
  Table: Weighting Of Indicators
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