Business news from Ukraine

VUSO Insurance Company increased collection of insurance premiums by 79%, payments by 99%

30 August , 2023  

From January 1 to June 30, 2023, VUSO Insurance Company (VUSO, Kyiv) received insurance premiums of UAH 1.188 billion, which is 79% more than in the same period in 2022.

According to the insurer’s press release, the largest revenues were for voluntary health insurance and exceeded the figures for the same period last year by 3.2 times – up to UAH 197.2 million, for the Green Card – by half, up to UAH 126.9 million, hull insurance – by 80.5%, up to UAH 301.8 million, MTPL – by 32.4%, up to UAH 159.5 million.

The total amount of travel insurance premiums for this period amounted to UAH 34.8 million.

The company also reports that in the first half of the year it paid UAH 438.7 million (+99%), including UAH 102.7 million (up 4.7 times) for voluntary health insurance, UAH 79 million (twice as much) for Green Card, UAH 78.1 million (+77.43%) for MTPL, and UAH 118.3 million (+31.7%) for hull insurance.

At the same time, the IC emphasized that along with its main activities, it actively provides volunteer support for Ukrainian defenders, purchasing the necessary equipment and vehicles to perform combat missions.

During the reporting period, there were changes in the company’s activities: at the end of March 2023, during the general meeting of VUSO and UASK ASKA, it was decided to join the insurance company ASKA to VUSO and continue to work under a single brand.

VUSO is a Ukrainian company established in 2001. It holds 50 licenses (30 for voluntary and 17 for compulsory insurance).

The company specializes in motor, health, and travel insurance for both corporate clients and individuals. It is a member of the MTIBU, the Nuclear Pool, a participant in the Direct Settlement project, and a member of the National Association of Insurers of Ukraine.

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