In January-March 2023 ALC “IC ARX Life” (ARX Life, Kiev) collected premiums to the amount of UAH 73,3 mln, that is by 5,06% more than in the same period last year.
It’s reported on the site of RA “Standard-Rating” about the renewal of credit rating/rating of financial stability (reliability) of the insurer at the level “uaAАА” according to the national scale.
The indemnities of the insurer in the Q1 of 2023, compared to the same period of 2022 has grown by 61,75% up to UAH 17,961 mln. Therefore, the level of payouts of the insurer has grown by 8,58 p.p. – up to 24,50%.
Acquisition expenses of the insurer have decreased by 4,22% down to UAH 38,333 mln in the first quarter of 2023 in comparison with the same period of 2022.
According to the results of work in the first three months of 2023 IC “ARCS Life” has received a net profit of UAH 15,410 mln that is 2,89 times more than the profit received in the Q1 of 2022.
As of April 1, 2023 the assets of the company have increased by 4.91% up to UAH 242,225 mln, shareholders’ equity has increased by 12.87% up to UAH 135,102 mln, liabilities have reduced by 3.66% down to UAH 107,123 mln, cash and cash equivalents have reduced by 39,85% down to UAH 39,819 mln.
At the same time, RA notes that as of April 1, 2023, the insurer has made financial investments in the amount of 182,043 mln UAH, consisting of government bonds (83,52%) and deposits in banks (16,48%).
ARX Life, like ARX, is a part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top 10 companies in the life insurance market in Ukraine.
