In 2024, Universalna Insurance Company (Kyiv) collected UAH 2.535 billion in gross insurance premiums, which is 26.43% more than in 2023, according to the website of the Standard Rating agency.
The agency has updated the credit rating/financial strength (reliability) rating of Universalna Insurance Company at uaAAA on the national scale based on the analysis of its performance for the specified period.
According to the published data, revenues from individuals increased by 25.78% to UAH 1.139 billion, and from reinsurers – by 3.88 times (by UAH 6.521 million) to UAH 8.788 million.
In 2024, insurance payments sent to reinsurers decreased by 15.76% compared to the same period in 2023, to UAH 96.077 million. Thus, the ratio of reinsurers’ participation in insurance premiums decreased by 1.90 p.p. to 3.79%.
The insurer’s net written premiums increased by 28.97% to UAH 2.439 billion, and net earned premiums showed an increase of 30.00% to UAH 2.191 billion.
Last year, the insurer paid out UAH 844.679 million in claims, up 20.63% year-on-year. The claims ratio decreased by 1.60 percentage points to 33.32%.
In 2024, the insurer’s operating profit increased by 2.11 times to UAH 221.595 million compared to 2023, and net profit increased by 64.64% to UAH 233.858 million.
As of January 1, 2025, the company’s assets increased by 31.95% to UAH 1.941 billion, equity showed an increase of 31.59% to UAH 974.238 million, liabilities increased by 32.32% to UAH 967.175 million, cash and cash equivalents increased 3.34 times to UAH 575.677 million.
In addition, it is reported that the insurer’s equity exceeded its liabilities by 0.73%.
“Universalna” has formed a portfolio of current financial investments from liquid instruments in the amount of UAH 1.203 billion, which consisted of bank deposits (UAH 928.528 million) and government bonds (UAH 274.127 million). Thus, as of the beginning of 2025, cash and cash equivalents covered 59.52% of the company’s liabilities, and liquid assets (cash, bank deposits and government bonds) exceeded the insurer’s liabilities by 1.84 times.
