Brokbusiness insurer (Kyiv) in 2020 collected UAH 197.580 million of gross premiums, which is 6.48% less than a year earlier, the rating agency Expert-Rating reported on the confirmation of the financial stability rating of the insurer at the level “uaAA” on the national scale.
According to the agency, part of insurance premiums belonging to reinsurers increased by 2.59%, and their share in the structure of the company’s gross premiums increased by 0.78 percentage points, to 8.86%.
Brokbusiness made insurance payments and compensations in the amount of UAH 68.720 million, which is 24.35% less than in 2019. The level of payments of the insurer in 2020 decreased to 34.78%.
The company’s net worth as of December 31, 2020 increased by 10.03%, to UAH 91.2 million, the insurer’s liabilities increased by 6.49%, to UAH 138.21 million, the amount of cash and cash equivalents on the company’s accounts rose by 28.93%, to UAH 100.02 million.
The rating agency notes that the activity of Brokbusiness over 2020 was profitable, while in 2019 the company received net and operating losses. In particular, the financial result from the operating activities of the insurer for 2020 amounted to UAH 11.610 million, and its net profit to UAH 4.330 million.
As reported, Brokbusiness has been operating in the Ukrainian insurance market for over 25 years and is represented in all regions of Ukraine. The insurer has 39 licenses for voluntary and compulsory types of insurance.
