Ukrainian Insurance Market 1H07 Results Released

According to the state insurance sector regulator, gross insurance premiums in 1H07 increased 28% yoy to USD 1.5 bln. Retail insurance has accelerated by 26.7% yoy to USD 400 mln, supported by personal and car insurance. The most significant growth was seen in life insurance, which rose 67% to USD 59 mln. The number of Ukrainian insurance companies increased by 27 to 438, 15 of which were created with the involvement of foreign capital. The share of foreign ownership in Ukrainian insurance has reached 20% and might increase another 5% this year, according to regulator estimates.