"Ukraine Insurance Report Q1 2015" now available at Fast Market Research

The situation of Ukraine's insurance sector has deteriorated over the last year. The prospects remain bleak.

The assessment and transfer of risk is the essence of insurance. Many of the emerging markets that are surveyed by BMI are countries with a (very) difficult geo-political or security situation and/or very significant economic problems. Yet it is still common to find insurance companies that are thriving, thanks to their profound understanding of the local situation, ability to develop innovative solutions, strong brands and access to finance.

Ukraine is a rare example of an emerging market where the insurance sector appears to be struggling with the challenges. The development of premiums through 2014 (and 2015) in USD and EUR terms has been and will continue be constrained by the weakness of the UAH. The economy is stagnant, with the result that volumes are not growing in most sub-sectors of the non-life segment. The competitive landscape is fragmented, with the result that few of the players have pricing power.

Full Report Details at
- http://www.fastmr.com/prod/924312_ukraine_insurance_report_q1_2015.aspx?afid=301

Most of the reports of the leading players in the non-life segment for H114 or the first three quarters of the year make fairly grim reading. Most companies note weakness in premiums and/or profitability. The segment continues to include numerous small operations that are effectively captives or investment vehicles of the corporate groups with which they are associated. One of the fundamental challenges, in a country whose eastern parts are in a state of near civil war, is that the multi-nationals who are active across Central and Eastern Europe really do not have a stake in Ukraine. A disaster (or, less likely, massive and profitable growth) in the Ukrainian subsidiaries of Allianz, VIG, PZU, UNIQA or AXA, for instance, or a smaller group such as Grawe, really would have very little difference. In the context of the region, Ukraine's non-life segment is a sideshow.

Meanwhile, the life segment hardly exists at all. No insurer...

The Ukraine Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Ukraine Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Ukrainian insurance industry.

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