The amount of premiums collected by ARX (risk insurance) and ARX Life (life insurance) insurance companies in 2023 totaled UAH 4 billion, which is 32% more than in 2022, according to a press release from the insurer.
At the end of 2023, the amount of premiums collected by ARX Insurance Company for hull insurance amounted to about UAH 2 billion, which is 29% more than a year earlier, for MTPL – UAH 300 million (+27%), voluntary health insurance – more than UAH 500 million (+22%), and property insurance – more than UAH 400 million (+38%).
The net profit of ARX and ARX Life for 2023 amounted to UAH 504.555 million.
The press release also states that the financial statements have been prepared in accordance with IFRS 4.
Earlier it was reported that ARX and ARX Life insurance companies paid UAH 1.4 billion to customers in 2023, which is 33% more than a year earlier. Payments for hull insurance amounted to UAH 837 million, which is 20% more than in 2022; MTPL – UAH 117 million (+42%); voluntary health insurance – UAH 265 million (+50%); property insurance – UAH 57 million (+17%); life insurance – UAH 69 million (+37%).
In 2023, new products and services were introduced: “Minicasco is an economical hull insurance that covers the main risk on the roads: Road accidents both through the fault of the driver and without. The price of the policy starts from UAH 1,175 thousand. It operates on the territory of Ukraine.
Iron Dome motor hull insurance is a product that protects cars from military risks. It covers damage and complete destruction from missiles, UAVs, and debris.
The policy “CASCO without a visit to the office” – from now on, to purchase a CASCO policy, if the car is subject to inspection, you can independently carry out its photo and video recording in the MyARX smartphone application.
The “Step-by-step settlement of the case” product was also introduced – another update to the MyARX insurance application, which allows you to see the registration, consideration of the case, determination of the amount of damage, the decision in the case, and the amount of compensation.
ARX Life, like ARX, is part of the international insurance holding Fairfax Financial Holdings Ltd.
