In January-June 2024, ALC Insurance Company ARX Life (ARX Life, Kyiv) collected insurance premiums in the amount of UAH 168.235 million, which is 10.6% more than in the same period a year earlier, according to the website of RA Standard Rating, which updated the company’s credit rating/financial strength (reliability) rating at uaAAA on the national scale.
The volume of payments and reimbursements made by the insurer in the first half of the year decreased by 0.89% to UAH 31.534 million. Thus, the insurer’s claims ratio decreased by 2.17 percentage points to 18.74%.
In January-June 2024, the company’s acquisition expenses decreased by 6.46% to UAH 88.782 million compared to the same period in 2023.
During the reporting period, the company increased its net profit to UAH 43.936 million, or 51.16% of its figure for the first half of 2023.
As of July 1, 2024, the insurer’s assets increased by 18.67% to UAH 338.346 million, equity – by 20.75% to UAH 255.709 million, liabilities – by 12.66% to UAH 82.637 million, and cash and cash equivalents increased by 82.56% to UAH 72.027 million.
Thus, as of the beginning of the second half of 2024, the company had a high level of capitalization (309.44%), as well as the level of coverage of its liabilities by cash and cash equivalents (87.16%).
At the same time, RA notes that as of July 1, 2024, the insurer made financial investments in the amount of UAH 254.827 million. They consisted of government bonds and government bonds (98.11%) and deposits in banks (1.89%).
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.
