In January-March 2024, ALC Insurance Company ARX Life (ARX Life, Kyiv) collected insurance premiums in the amount of UAH 79.085 million, which is 0.13% less 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 quarter decreased by 5.29% to UAH 17.01 million. Thus, the claims ratio decreased by 1.17 p.p. to 21.51%.
The insurer’s acquisition expenses for the first three months of 2024 decreased by 9.07% to UAH 43.567 million compared to the same period in 2023.
During the reporting period, the company generated a net profit of UAH 19.631 million, which is 55.43% more than in the first quarter of 2023.
As of April 1, 2024, the company’s assets increased by 7.19% to UAH 305.616 million, equity increased by 9.27% to UAH 231.404 million, liabilities increased by 1.17% to UAH 74.212 million, and cash and cash equivalents increased by 34.51% to UAH 53.069 million.
Thus, as of the beginning of the second quarter of 2024, the company’s capitalization level amounted to 311.81%, and the level of coverage of its liabilities by cash and cash equivalents was 71.51%.
At the same time, the Agency notes that as of the reporting date, the insurer made financial investments in the amount of UAH 246.039 million, which consisted of government bonds (91.90%) and deposits in banks (8.10%).
ARX Life is 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.
