KIEV, March 27 – The preliminary results of the Ukrainian insurance market in 2016 show that 55% of assets of insurance companies worth over UAH 30 billion are illiquid or hard to sell and generate low income, a member of the national commission for financial service markets regulation Oleksandr Zaletov told Interfax-Ukraine.

He said that the 2016 figures also display some positive trends in the improvement of the quality of assets of insurance companies.

He said that thanks to the implementation of the first phase of reformation of assets of the insurance market under the resolution on obligatory criteria and requirements for asset adequacy, diversification and quality took effect in May 2016 the reallocation of the assets of market players was seen from 'unreliable' (corporate securities, financial investment when it is impossible to determine the fair cost) to 'low risk' assets (deposits at banks with the investment credit rating and higher, government securities).