Issue: № 12, 2025
Doi: https://doi.org/10.37634/efp.2025.12.12
The paper reveals the state of the Ukrainian insurance market for 2020-2025. The assessment is based on the number of insurers, a comparison of premiums and payments, financial results and return on equity, and the share of insurance premiums in GDP, which collectively demonstrate the level of adaptation to the challenges of martial law. Insurance dynamics over the period are characterized by a decline compared to pre-war rates, but overall, the market has not lost potential, although its share of GDP decreased from 1.08% in 2020 to 0.19% in 2024. The share of the agricultural segment of the insurance market also decreased from 2.36% to 1.17% over the period. The capacity of agricultural insurance is assessed based on its dynamics, innovations related to martial law, trends in the number of contracts, and financial components. An assessment of the current state and analysis of agricultural insurance programs, primarily those with state support, are conducted. The share of agricultural insurance in insurers' portfolios decreased from 0.56% to 0.40% between 2020 and 2024, with the number of services remaining unchanged. Service volumes decreased by 86.6%. Insurance premiums fell from UAH 175 million in 2020 to UAH 37 million in 2023, but increased to UAH 134.3 million over the first two quarters of 2025, primarily due to government support programs. Martial law amendments for agricultural insurance affect property and equipment, crops and harvests, production costs, war risk compensation, IT use, and insurer requirements. The findings will contribute to improving the methodological framework for agricultural insurance development, with the aim of reducing its risks and ensuring recovery and sustainable development. Agricultural insurance is recovering, gradually compensating for the losses suffered during the first years of the war. Consequently, areas for improving agricultural insurance include the introduction of innovative products using information technology, strengthening the government's role in regulating the insurance market, attracting foreign financing, and other innovations.
Keywords : agricultural insurance, programs, state support, war risks, insurance market
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