The thing is that in the CASCO segment, the cost of insurance is tied to the price of the vehicle. In hryvnia equivalent, it has significantly increased due to the exchange rate jump. And if in December insurance, for example, could cost 10.5 thousand UAH, now it has increased to almost 20 thousand UAH.
Insurers cannot yet fully assess the decline in sales volume, but preliminary calculations already show that in January the number of concluded CASCO contracts decreased by 20% compared to the same period last year.
It is still difficult to obtain more accurate data; many insurance companies are not ready to share data on their sales. Although many claim that “in hryvnia equivalent, sales have grown.” Unofficially, many believe that due to currency fluctuations, losses could reach 50%. And losses will arise not only due to clients refusing insurance, but also due to the freezing of car lending programs by banks.
