On December, 21st, 2010 the Company DAGDA has published annual research on the insurance market. The research of 2010 has been performed by request of the Ukrainian Professional Association for Protection of Investors, Creditors and Insurants (UPAPICI) and highlights main trends of classical insurance development in Ukraine for the 9 months of 2010.

For the 9 months of 2010 the gross premiums of Ukrainian insurers have grown by 9 %, net premiums dropped by 14 %. The share of reinsurers in gross premiums grew by 40 %. The Ukrainian insurance market is gradually recovering after the crisis, but begins to lose its classical features. Loss ratio decrease should be regarded as a positive tendency: so, total indemnities paid for 9 months of 2010 dropped by 4,4 %, among the top 20 companies of the classical segment the indemnities dropped by 8,65 %.

NJSIC Oranta remains leader of the classical segment following the results of 9 months of 2010. The Company collected 465 m UAH for the 9 months of 2010, whilst the nearest competitor UNIQA - 411 m UAH. Thus, the gap between the leaders has been essentially reduced. In 2011 it will be difficult for Oranta and UNIQA to retain leading positions in the market. So, both companies of AXA Group claim the market leadership in Ukraine. Exit of Alexandr Yaroslavskiy from the number of Ukrsibbank shareholders can facilitate acceleration of merge or consolidation of business of ‘AXA Ukraine’ and ‘АХА Insurance’. When merged both these companies following the results of 9 months of 2010 could collect about 537 m UAH of gross premiums. Serious claims for leadership in the market can be also made by the companies under control of Vienna Insurance Group (USG, Knyazha, Globus, VAB Insurance). By our assessment their total gross premiums for 9 months of 2010 made up about 470 m UAH.

See details on the findings of the research at ( http://dagda.com.ua/content/userfiles/pdf/researcn_prez/InsResearch_DAGDA.pdf)