Europe: Ukrainian insurance market ready for structural reforms
The past year has been full of contradictions for the Ukrainian insurance market. On one hand, on-and-off military conflict in the eastern regions contributed to depreciation of the hryvnia against the dollar, deepening the economic crisis that had been brewing since 2013. On the other hand, the need for reforms manifested itself more clearly, triggering significant developments in the market.
Last year ended with over 30% growth in terms of gross written premium volume and although nominally the market has performed miraculously well, this impressive figure is actually linked to inflation
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