Business news from Ukraine

Business news from Ukraine

Guardian Insurance Company has increased payments by 38.4%

23 October , 2024  

In January-September 2024, Guardian Insurance Company (Kyiv) made insurance claims in the amount of UAH 389.61 million, which is 38.37% more than in the same period in 2023, according to the insurer’s website.
It was specified that the growth was due to a 49.2% increase in Green Card payments.
During the reporting period, the company collected UAH 769.5 million in insurance payments, which is 31.3% less than a year earlier. The main reason for this is a reduction in payments and lower sales of the Green Card. Thus, during the reporting period, 120.8 thousand contracts were concluded for this type of insurance, which is 9.2% less compared to the same period in 2023.
According to the report, motor hull insurance premiums for the first nine months increased by 57.3% to UAH 53.1 million, for third-party liability – from UAH 2.9 million to UAH 15.3 million, for voluntary civil liability insurance of land transport owners – from UAH 7.3 million to UAH 9.3 million (+27%).
The company emphasizes that the priority tasks facing its team this year are: strengthening and expanding positions in the regions and, accordingly, staff training, diversification of the product portfolio with a focus on increasing the share of voluntary insurance.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020, it has acquired the status of a full member of the MTIBU and has the right to sell Green Card policies.
In October 2020, according to the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.