Austrian Uniqa Group to expand its presence in the Ukrainian insurance market

Austrian insurance and investment company Uniqa Group considers the Ukrainian market a priority and plans to strengthen its presence, particularly in the life insurance segment and by creating affordable products to cover war risks. This was  reported by Ministry of Economy.

Uniqa has been operating in Ukraine since 1994 and provides clients with a wide range of modern insurance services. It consistently ranks among the leaders of the Ukrainian insurance market in terms of insurance premiums, payments, and assets, transferring about UAH 100 million to clients every month.

A separate line of business is the insurance company "Unika Life", established in 2006 as a subsidiary of UNIQA Insurance Group and the insurance company Uniqa.

The company's plans were discussed during a meeting with the Minister of Economy, Environment and Agriculture of Ukraine. Oleksiy Sobolev with the head of Uniqa Group, Wolfgang Kindl, which took place on December 1.

"Risk coverage for conditionally safe territories remains insufficient. Therefore, the Ministry of Economy is actively working on reducing risks for businesses and investors by engaging major market players in creating new insurance and reinsurance products. And here, the combined efforts of the state and business are important," Sobolev noted.

Specifically, the insurer is seeking partners among global companies, allocating a portion of its profits to cover risks in Ukraine, and participating in the European Union's cargo insurance program. The company also plans to expand coverage to logistics hubs.

• On October 16, it became known that the International Finance Corporation (IFC), which is part of the World Bank Group, will invest in the capital of Ukrainian insurance companies.