AXA Insurance (Kyiv) in 2017 collected UAH 1.679 billion of insurance premiums, which is 20% more than a year earlier, while the company’s net profit under international standards increased by 2.3 times, to UAH 57 million, according to a press release from the insurer.
It is also noted that the net financial result for the previous year under national standards amounted to UAH 127.6 million. This result is the reflection of a one-time effect of transition to international accounting standards by changing the reserve methodology. The net effect of this transition was UAH 198.2 million. Such a one-time change will allow from 2018 to harmonize the national financial reporting with the international accounting standards as best as possible, the press release says.
“Again our company demonstrates a significant increase in profits and insurance premiums, while maintaining a high level of Customer Satisfaction. We continue to invest in innovative products and services for our customers, as well as in personnel,” AXA Insurance Board Chairman Philippe Wautelet said.
The company reports that KASKO accounts for 60% of its insurance portfolio. In 2017, a record volume of premiums for the amount of UAH 1.007 billion was raised, which is 17% more than a year ago.
Insurance claim fee payments increased by 36% compared to 2016 and amounted to UAH 818 million. The number of contracts signed during the year increased by 31%, to 1.368 million.
AXA Insurance belongs to AXA Group. It has been represented in the Ukrainian insurance market since 2007. The company employs more than 700 people and 2,800 agents throughout Ukraine.
