In 2024, “Insurance Company ‘ARX’ PrJSC (ARX, Kyiv) collected gross insurance premiums in the amount of UAH 4.280 billion, which is 15.94% more than a year earlier.
These statistics are available on the website of RA Standard-Rating on the update of the company’s credit rating/financial strength (reliability) rating at uaAAA according to the national scale in 2024.
Income from individuals increased by 13.20% to UAH 2.617 billion, and from reinsurers increased 2.2 times to UAH 14.268 million. Thus, at the end of 2024, the share of individuals in the insurer’s gross premiums amounted to 61.14%, and the share of reinsurers – 0.33%.
In 2024, insurance payments sent to reinsurers increased by 15.74% compared to 2023 – up to UAH 114.375 million. The ratio of participation of reinsurance companies in insurance premiums of IC “ARKS” practically did not change and amounted to 2.67% in 2024.
RA notes that net written premiums increased by 15.94% to UAH 4.166 billion, and net earned insurance premiums increased by 16.18% to UAH 3.895 billion.
The volume of insurance claims paid by the company in 2024 increased by 24.23% compared to 2023, to UAH 1.720 billion. Thus, the level of payments increased by 2.69 p.p. to 40.19%.
Profit from operating activities amounted to UAH 170.090 million, and net profit amounted to UAH 452.835 million.
As of January 1, 2025, the company’s assets increased by 17.70% to UAH 5.220 billion, equity showed an increase of 20.77% to UAH 2.633 billion, liabilities increased by 14.73% to UAH 2.587 billion, cash and cash equivalents increased 4.16 times to UAH 817.524 million.
The RA also reports that as of the beginning of 2025, the insurer made financial investments in the amount of UAH 2.922 billion, which consisted of government bonds and government bonds (81.76% of the investment portfolio) and deposits in banks with investment grade credit ratings (18.24% of the portfolio), which had a positive impact on the provision of liquid assets, which exceeded the liabilities of IC “ARKS” by 1.45 times.
“ARKS” Insurance Company is a part of the international insurance holding Fairfax Financial Holdings Ltd. The company has been a leader in the hull insurance segment of the Ukrainian market for 13 years.
