Interest in the Ukrainian insurance sector is already high and is being confirmed by specific deals, National Bank of Ukraine (NBU) Governor Andriy Pyshnyy said at a meeting with UK Ambassador to Ukraine Neil Crompton.
"I would put it as simply as possible: the market is ‘hot’ but still cheap. That’s why, in my view, this is a very interesting window of opportunity for strategic investors right now," he said on his Facebook page.
He noted that asset valuations still have significant potential for growth.
According to him, the insurance market has undergone a large-scale transformation in recent years: regulation has been substantially updated, requirements for transparency, solvency and corporate governance have been tightened, and European standards are being introduced. As a result, the market has become much more mature and understandable for investors.
Pyshnyy also said representatives of British business are expected to visit Ukraine in the coming months, adding that many of them will be financial companies and insurers.
