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Member, Beacon International Group, Ltd.
Insurers in Ukraine ceded risks worth 1.27 billion Ukrainian hryvnias ($115.9 million) to reinsurance during the first quarter of 2014, down significantly from UAH 3.52 billion ($321.2 million) in the first quarter of 2013, Forinsurer reports.
Of this UAH 942.5 million ($86 million) was ceded to regional reinsurers, while the remainder went to overseas reinsurers.
Meanwhile, non-resident reinsurers had a bigger share in payouts with UAH 107.7 million ($9.8 million) paid, out of the total UAH 123.5 million ($11.3 million) in payments.