In January-September 2024, “ARX Life” Insurance Company (ARX Life, Kyiv) collected insurance premiums in the amount of UAH 251.2 million, which is 7.03% more than in the same period a year earlier.
This was reported by RA “Standard-Rating” on its website in the information on the company’s credit rating/insurer financial strength (reliability) rating update at the level of “uaAAA” on the national scale.
The volume of payments and reimbursements made by the insurer in the first half of the year decreased by 10.21% to UAH 44.382 million. Thus, the insurer’s claims ratio decreased by 3.39 percentage points to 17.67%.
The insurer’s acquisition expenses for the first three quarters of 2024 decreased by 4.99% to UAH 134.587 million compared to the same period in 2023.
Net profit amounted to UAH 60.908 million, which is 31.01% more than the net profit for 9 months of 2023.
As of October 1, 2024, the insurer’s assets increased by 24.55% to UAH 355.136 million, equity – by 28.76% to UAH 272.681 million, liabilities – by 12.41% to UAH 82.455 million, cash and cash equivalents – by 66.66% to UAH 65.756 million.
Thus, as of the beginning of the fourth quarter of 2024, the company had a high level of capitalization (330.7%), as well as the level of coverage of its liabilities by cash and cash equivalents (79.75%).
At the same time, RA notes that as of October 1, 2024, the insurer made financial investments in the amount of UAH 279.6 million. They consisted of government bonds and government bonds (89.43%) and deposits in banks (10.57%).
ARX Life is part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top ten companies in the life insurance market in Ukraine.
