Euroins Ukraine boosts insurance premium collections by 20.4%, indemnity payments by 41.5% in 2023

MOSCOW. Jan 31 (Interfax) - Insurance premium collections by the Euroins Ukraine insurer, a subsidiary of European insurance company Euroins Insurance Group (EIG), increased 20.4% to 564.909 million hryvni in 2023 year-on-year, Ukrainian media said, citing the Euroins Ukraine management's interim report published in the information system of Ukraine's National Securities and Stock Market Commission.

The growth was recorded mostly in segments such as the car owner's insurance, where insurance premium connections grew 24.3%, or by 69.737 million hryvni, medical insurance (permanent health insurance) - by 109.9%, or by 56.285 million hryvni, accident insurance - by 24.4%, or by 2.528 million hryvni), and insurance of the civil liability of overland transport owners (including the carrier's liability) - by 2.6%, or by 305,000 hryvni.

Euroins Ukraine concluded more than 662,000 insurance contracts in 2023, which is 17% more than in 2022, it said.

The volume of indemnities paid to the company's clients rose 41.5% to 265.343 million hryvni in 2023 year-on-year.

Euroins Ukraine is a universal non-life insurer operating on the Ukrainian market since 1992. It is part of Bulgarian Euroins Insurance Group, which is one of the largest independent insurance groups operating in countries of Central, Eastern and Southeastern Europe. EIG is a subsidiary of Eurohold Bulgaria, a leading energy and financial group of Central, Eastern and Southeastern Europe.

The company has 97 representative offices across the country and holds 25 licenses, including 16 licenses for voluntary types of insurance and nine for mandatory insurance.

Euroins Ukraine is a member of the Motor (Transport) Insurance Bureau of Ukraine and the European Business Association, specializing in car insurance, medical insurance, property insurance, and liability and cargo insurance for private and corporate clients.