In 2024, Quorum Insurance Company (Kyiv) collected insurance premiums in the amount of UAH 69.451 million, which is 40.34% more than in 2023, the rating agency (RA) Standard-Rating reported in information on updating the company’s credit rating/financial strength rating on the national scale at uaAA.
It is specified that the rating was updated based on the analysis of the company’s performance for the specified reporting period.
The insurance company’s revenues from individuals increased by 37.91% to UAH 41.916 million for the year. There were no revenues from reinsurers. The share of individuals in gross premiums amounted to 60.35%.
Insurance payments sent to reinsurers in 2024 amounted to UAH 20.443 million, which is 27.24% higher than in 2023. The ratio of reinsurers’ participation in insurance premiums decreased by 3.03 p.p. to 29.44%.
The RA notes that the insurer’s net written premiums for the year increased by 46.64% to UAH 49.008 million, net earned premiums – by 47.32% to UAH 49.052 million.
The volume of insurance claims paid by Quorum Insurance Company in 2024 increased by 35.33% compared to 2023, to UAH 8.753 million. The level of payments fell by 0.47 percentage points to 12.60%.
As noted, the company’s activities during the period were profitable. In particular, profit from operating activities amounted to UAH 8.578 million, net profit – UAH 8.288 million.
As of January 1, 2025, the insurer’s assets increased by 9.26% to UAH 69.895 million, equity – by 9.62% to UAH 61.420 million, liabilities – by 6.78% to UAH 8.475 million, cash and cash equivalents – by 12.26% to UAH 49.854 million.
Quorum Insurance Company was established in March 2014 and specializes in risk insurance.
