UKRAINE: FOR 9 MONTHS IN 2018 INSURANCE RESERVES WENT UP BBY 15% Y-O-Y

Insurance reserves of Ukrainian insurers as of the end of September amounted to UAH 24.8 billion (+15% y-o-y; ~EUR 748.6 million), according to the member of the National financial services committee of Ukraine, Alexander ZALETOV.

He believes that the driving factors of such improvement are the total increase of insurance services volume and development of the actuarial evaluation of insurance obligations after the National financial services committee introduced actuarial report on insurance companies into the prudential supervision.

As of 30.09.2018 the biggest parts in the structure of insurance reserves were formed by bank current accounts and deposits (52.8%), as well as domestic government bonds (28.6%), followed by rights of claim to non-resident reinsurers (9.3%) and real estate (4.8%). Insurers’ investments in stocks and corporate bonds amounted to only 1.5% of their insurance reserves.

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