Ukraine

Ukrainian market shows signs of strong recovery

Profitability in the Ukrainian non-life insurance sector has recovered strongly in recent years but standards of regulation and financial reporting continue to act as a drag on ratings, according to Fitch’s market update.

Coface report highlights uneven growth in CEE markets

Most countries in Central and Eastern Europe are experiencing a slowdown in GDP growth, rising insolvency rates and high unemployment due to the economic crisis in the Eurozone, according to the latest Panorama report from credit insurer, Coface.

Lemma Insurance Company downgraded

Lemma Insurance Company of the Ukraine has had its issuer credit rating downgraded to 'bb' from 'bb+' and its financial strength rating of B (Fair) affirmed. The outlook for both ratings has been revised from stable to negative.

Uniqa sees 4.4% growth in 2011

Uniqa group as increased it premiums by 4.4% to €5.37bn (2010: €5.14bn) and in the growth markets in Eastern Europe by 6.5% €1.08bn (2010: €1,02bn).

Ace heads to Kiev

Global (re)insurer Ace has opened an office in the Ukrainian capital Kiev in order to foster relations with the local market and capitalise on the region’s growing economy.