South Africa

Life Report

Product Insurance Market Reports Life Rev South Africa

Key Highlights

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  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Ukraine's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Ukraine's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Ukraine

The Ukraine life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Ukraine.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Ukraine and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Ukraine’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Ukraine is available.

Axco’s report describes the regulatory framework that applies to the Ukranian domestic life insurance sector, including whether non-admitted insurance is permitted in Ukraine; as well as the legislation necessary to know regarding Ukraine’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Ukraine with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Ukrainian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Ukraine, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Ukrainian pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Ukraine report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Ukraine Life and Benefits Report Extract

Below are brief extracts of information from the Ukraine Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Ukraine's life market was ranked 78th globally in 2020 and could be considered a small to medium-sized emerging market. As in some other post-Soviet economies, the insurance culture and product penetration remains quite low.

The Ukrainian life insurance market achieved growth of 8.38% in 2020 with premiums of UAH 5.01bn (USD 185.90mn) in spite of the severe economic downturn caused by the COVID-19 pandemic ....


State pension provision in Ukraine is under severe financial strain, made worse by the cost of ongoing military action in the east of the country with Russia and also due to the economic downturn caused by the COVID-19 pandemic. The government has plans to make major reforms but financing the changes and reaching consensus politically has been problematic.

Retirement benefits are currently provided under the defined benefit (DB), pay-as-you-go ....


Since Ukraine became independent in 1991 successive governments had sought to overcome funding shortfalls and modernise the healthcare system; however, little had been achieved and the system consequently preserved the main features of the Semashko model. The main issues which needed to be addressed were corruption in procurement and hiring, a high proportion of out-of-pocket expenditures and the prevalence of counterfeit pharmaceuticals.

The Cabinet of Ministers approved a plan in November 2017 for healthcare reform ....

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