The NBU is preparing legislative amendments for the full implementation of the Solvency II EU directives
The National Bank of Ukraine is working on draft legislative amendments for the full implementation of the Solvency II, Insurance Distribution Directive, and Motor Insurance Directive EU directives in the insurance sector, and plans to submit them to parliament following discussions with the market later this year.
“Ukraine’s insurance sector is profitable and attractive to investors,” says NBU Governor Andriy Pyshnyy
Ukraine’s insurance market is growing and becoming more transparent during the war, and is also demonstrating a high degree of adaptability to challenges, NBU Governor Andriy Pyshnyy said at the Ukraine National Insurance Conference.
“The goal is to provide agricultural insurance coverage for 70% of Ukraine’s farmland,” said Deputy Minister of Economy Taras Vysotsky
A state-supported agricultural insurance program is already in place in Ukraine, under which the government reimburses a portion of insurance premiums. As Deputy Minister of Economy Taras Vysotsky noted in his speech at the UNIC 2026 All-Ukrainian National Insurance Conference, 20 million hectares of farmland will eventually be covered by the agricultural insurance program.
The Role of the Insurance Market in Ukraine’s Recovery: The Government’s Perspective
Yegor Perelygin, Deputy Minister of Economy, Environment, and Agriculture of Ukraine
The government views insurance as a key tool for mitigating risks and attracting investment in the process of Ukraine’s recovery.
“We are currently building an entirely new industry in the insurance sector,” said Andriy Pyshnyy, Governor of the National Bank of Ukraine
Ukraine’s insurance sector is growing and becoming more transparent during the war, and is demonstrating a high degree of adaptability to challenges and a willingness to partner with the government, said Andriy Pyshnyy, Governor of the National Bank of Ukraine, at the Ukraine National Insurance Conference.