The number of insurance companies in Ukraine may be reduced by one third in 2009; the chairman of the National Commission for the Regulation of Financial Market Valery Alyoshiin said a press conference in Kiev on Thursday.
"For the moment, most contributions are collected by a third party to the market, which means that there are more than 150 companies, which define the Ukrainian insurance market and therefore, if one third or half the number of left disappears beyond this limit, there will be no significant changes in the portrait of the Ukrainian insurance market, "said Alyoshin
More accurate data will be received at the end of 2008 - in the first quarter of 2009, he said.
30 September 2008 in Ukraine was 475 registered insurance companies, he said.
The total amount of premiums collected by the Ukrainian insurance companies may be reduced by 10% in 2009 compared to 2008 the expected rate Alyoshin said. "[It] is not a scientific assessment on the basis of certain methods, but the assessment to reflect existing trends," he added.
"Everything depends on many subjective factors," said the head of the Commission.
"There will be no serious downturn, if we manage to employ administrative leverage in auto insurance, and to establish control over mortgaged property insurance, insurance, because today covers only the first year of the loan," Alyoshin said
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