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Ukraine Insurance Report Q3 2016

  • May 2016
  • -
  • Business Monitor International
  • -
  • 50 pages

Includes 3 FREE quarterly updates

BMI View: The outlook for the insurance market in Ukraine is mixed at present. While higher rates ofhousehold consumption and industrial production will bring GDP growth back to positive territory in 2016and 2017, stimulating growth in a number of insurance lines, our forecasts for growth remain tentative inlight of ongoing political uncertainty in the country. We also note that the country's high rate of inflation isdistorting growth rates and the devaluation of the hryvnia continues to place pressure on the market. Thereis potential for more positive growth in the long term, supported by a large population which will seegradually improving rates of household income and a more mature insurance market which will offer agreater range of products, but at present investor interest in Ukraine will likely remain subdued.

Key Updates And Forecasts

- There have been some positive developments in the Ukrainian economy. In April 2016 Japan announcedit had launched a USD269mn credit line for insurance of Ukraine's exports and imports to support thecountry's recovery - though this reflects the limited capacity of the domestic insurance market.

- Overall we expect the non-life market to see growth of 7.2% annually over the forecast period between2016 and 2020, when measured in local currency terms. In the short-term the market will be impacted bycurrency movements with premiums falling in US dollar terms in 2016 and 2017.

- Growth rates will be higher in the small life insurance sector, though to a large extent this growth is beingdistorted by high rates of inflation. The life market will remain small, with penetration rates limited ataround 0.2% of GDP and density rates low at less than USD10 per capita.

Table Of Contents

Ukraine Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Ukraine 2013-2020) 5
Insurance 6
Industry Forecast 7
Life Premiums Forecast 7
Table: Life Premiums (Ukraine 2013-2020) 10
Table: Life Insurance Claims (Ukraine 2008-2014) 10
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Ukraine 2013-2020) 14
Table: Non-Life Insurance Claims (Ukraine 2009-2014) 14
Non-Life Sub-Sector Forecast 15
Table: Non-Life Insurance Premiums by Product Line (Ukraine 2013-2020) 24
Insurance Risk/Reward Index 25
Emerging Europe Risk/Reward Index 25
Table: Emerging Europe Insurance Risk/Reward Index - Q316 26
Market Overview 27
Non-Life Market Overview 27
The Product Offering 27
The Competitive Landscape 27
Table: Non-Life Market Shares (USDmn), 2010-2013 29
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Life Market Shares (USDmn), 2010-2013 33
Company Profile 35
AXA Group 35
UNIQA Group 38
Vienna Insurance Group (VIG) 41
Methodology 44
Industry Forecast Methodology 44
Risk/Reward Index Methodology 47
Table: Indicators 49
Table: Weighting of Indicators 50

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