The article examines the state and trends of the Ukrainian insurance market in the context of unprecedented challenges caused by Russia's full-scale aggression and the economic crisis. The key indicators of market development for 2020-2024 are analyzed, and the main factors of their dynamics are identified. A significant reduction in the number of insurers and insureds interested in purchasing insurance products is noted. The downward trend is characterized by the share of insurance in Ukraine's GDP, which is associated with a decrease in insurance premiums relative to the country's total economic output and reflects both a decrease in the solvency of the population and business and an increase in risks that are difficult or impossible to insure in the current environment. An assessment of the current state of the Ukrainian insurance market shows that its largest segment, as in the pre-war period, remains risk insurance, which combines various types of insurance against potential risks, including liability insurance, accident insurance, health insurance, property insurance in various forms, etc. The main channel for selling insurance products in the Ukrainian market remained the agent network, although bancassurance, direct sales, and brokers are also significant for certain products. The author substantiates the need for a qualitative transformation of insurance activities through the introduction of innovations, development of distribution and adaptation of insurance products, in particular through the creation of an effective system of war risk insurance and the intensification of public-private partnerships to ensure economic stability and post-war reconstruction. It is determined that the ability of insurance companies to adapt to new realities and offer relevant insurance solutions is a key condition for further market development

У статті проаналізовані ключові показники розвитку страхового ринку України за 2020-2024 рр., визначено основні чинники їхньої динаміки. Обґрунтовано необхідність якісної трансформації страхової діяльності шляхом впровадження інновацій, розвитку дистрибуції та адаптації страхових продуктів через створення ефективної системи страхування воєнних ризиків та активізацію державно-приватного партнерства. Визначено, що здатність страховиків адаптуватися до нових реалій та пропонувати актуальні страхові рішення є ключовою умовою подальшого розвитку страхового ринку