Market Report, "Ukraine Insurance Report Q4 2015", published

The outlook for Ukraine's insurance market is heavily undermined by the current political and security unrest which is deterring investors, particularly in the life segment. The sharp fall in the UAH in 2014 led to a contraction in total premiums in US dollar terms, and this trend is expected to continue in 2015. Even prior to the current conflict the insurance market in Ukraine was small and underdeveloped, with low density and penetration rates. With Ukraine's real GDP expected to decline 5.25% in 2015, short-term prospects for growth in the insurance sector remain extremely limited.

In 2014 currency movements caused by the deteriorating security situation in Ukraine led to a plunge in total premiums in USD terms. Overall, the sector is small by most standards and quite slowly growing. The fact that life insurance accounts for less than 10% of total activity in the insurance market is another indicator of its underdevelopment, with very little confidence in, or understanding of, long-term savings products

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Some 90% of the activity in Ukraine's insurance sector takes place in the non-life segment. This segment is constrained by the lack of volume growth in many sub-sectors and by price competition in what is a fragmented market. Premium growth in UAH terms will be fairly pedestrian through the forecast period. In US dollar terms we expect to see a sharp fall in premiums of 50% in 2015, with a return to growth in not occurring until 2019. The much smaller life segment is held back by a more fundamental problem: the lack of confidence on the part of Ukrainian households and firms to enter into long-term contracts.

The Ukraine Insurance Report has been researched at source and features BMI Research'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.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Ukraine to test other views - a key input for successful budgeting and strategic business planning in Ukraine's insurance market.
* Target business opportunities and risks in Ukraine through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence

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