GRAWE Ukraine Insurance Company (Kyiv) in 2019 collected UAH 97.438 million in net premiums, which is 27% more than a year earlier, according to the annual report of the company, published in the information disclosure system of the National Securities and Stock Market Commission.
According to its data, gross premiums for the year amounted to UAH 115.026 million, which is 21.7% more than in 2018. Premiums transferred to reinsurance remained at almost the same level of UAH 8.138 million. The reserve of unearned premiums increased by 11.3%, to UAH 10 million.
In 2019, the company paid customers UAH 58.592 million, which is 26.6% more than a year earlier.
The company’s administrative expenses for the year increased by 32.3%, to UAH 18.136 million, sales expenses by 13.8%, to UAH 40.502 million.
As reported, GRAWE Ukraine Insurance Company in 2019 saw a net loss of UAH 30.345 million, while in 2018 some UAH 16.5 million. Over the year, it increased assets by 5%, to UAH 119.537 million.
Net worth decreased by 23.8%, to UAH 41.583 million. Charter capital, as before, is UAH 41.13 million.
The long-term liabilities of the insurer increased by 43.3%, to UAH 59.814 million, while current liabilities increased by 3.5%, to UAH 18.140 million.
Debtor indebtedness rose by 52.7%, to UAH 12.422 million. Cash and cash equivalents decreased by 18.6% and amounted to UAH 15.009 million.
