PJSC “Insurance company “PZU Ukraine” (Kyiv) in January-March 2023 increased net premiums by 19.05% – to 272.706 million UAH, and earned premiums by 13.84% – to 310.699 million UAH.
It is reported by RA “Standard-Rating”, which has updated credit rating/rating of financial stability (reliability) of the company according to the national scale at the level “uaAAA” according to the results of the mentioned period.
According to it, receipts from individuals of the insurer has decreased on 3,12% down to UAH 201,928 mln, and from reinsurers – on 61,80%, down to UAH 2,447 mln. Thus, the share of physical persons in gross premiums of the insurer constituted 64,99 %, and the share of reinsurers – 0,79 %.
The premiums sent to reinsurers, in Q1 2023 in comparison with Q1 2022 decreased by 46,94% – down to UAH 38,016 mln. Therefore, the participation coefficient of reinsurance companies in the insurance premiums has decreased by 11,60 p.p. – up to 12,23%.
The volume of payouts and indemnities carried out by the insurer in the Q1 of 2023 has amounted to UAH 137,472 mln, which is by 25,18% lower than the indemnities in the same period of 2022. Thus, the level of indemnities has decreased on 16,86 p.p. – to 44,24%.
RA notes, that the activity of the insurer in the reviewed period has been profitable, while the volumes of operating and net profit have significantly increased. In particular, according to the results of the activity in the first three months of 2023, compared to the same period of 2022, the financial result from operating activities has increased by 14,66% up to UAH 28,941 mln, and net profit – by 75,02% up to UAH 44,371 mln.
Assets of the company as of April 1, 2023 have decreased by 1,94% down to UAH 2,374 bln, shareholders’ equity has increased by 6,08% to UAH 919,699 mln, liabilities have reduced by 6,41% down to UAH 1,455 bln, cash and cash equivalents – by 21,49%, to UAH 286,120 mln, financial investments have made UAH 495,8 mln which consisted of OVGZ (UAH 207,233 mln) and bank deposits (UAH 288,567 mln).
IC PZU Ukraine has the support of one of the largest insurance groups of Central and Eastern Europe – PZU Group (which includes the parent company PJSC IC PZU Ukraine – PZU S.A.).
