Last year, BNSF Insurance (formerly Brokbusiness Insurance Company, Kyiv) collected UAH 581.34 million in gross written premiums, which is 52.45% more than in 2023, according to the information of Expert Rating RA in confirming the financial strength rating of the company at uaAA+ according to the national scale.
According to the RA, the share of insurance premiums attributable to reinsurers decreased by 22.07%, and in the structure of gross premiums it decreased by 1.48 percentage points (p.p.) to 1.56%.
In 2024, BNSF Insurance paid 57.65% more insurance claims and indemnities than in the previous year, and the level of payments increased by 1.11 p.p. to 33.64%.
In 2024, the company’s equity capital increased by 25.25% to UAH 174.53 million, and its gross liabilities increased by 23.55% to UAH 277.5 million, resulting in an increase in the level of equity coverage of the company’s liabilities by 0.85 percentage points to 62.89%.
The amount of cash and cash equivalents in 2024 increased by 31.08% and as of December 31, 2024 amounted to UAH 266.16 million, and the ratio between cash and liabilities of the insurer increased by 5.50 p.p. to 95.91%.
Thus, as of the beginning of 2025, BGS Insurance was provided with highly liquid assets that covered its liabilities by 95.91%.
The company’s operating profit for 2024 amounted to UAH 10.66 million, and net profit amounted to UAH 29.16 million.
BGS Insurance has been operating in the Ukrainian insurance market for over 25 years and is represented in all regions of the country. It has 39 licenses for voluntary and compulsory insurance.
