PJSC Alfa Insurance Company (Kyiv) collected UAH 509.015 million in gross premiums in January-June 2022, which is 24.7% less than in the same period of 2021, Expert Rating RA reported in information on confirmation of the company’s financial strength rating at the level of “uaAA +” on the national scale based on the results of work for the first half of the year.
According to the RA press release, the share of insurance premiums owned by reinsurers decreased by 60.5% – to UAH 1.836 million.
During the reporting period, the company made insurance payments in the amount of UAH 194.026 million, which is 0.42% more than in 6 months. 2021
As of June 30, 2022, the company’s equity increased by 21.97%, to UAH 378.43 million, and its gross liabilities – by 15.13%, to UAH 549.74 million. As a result, there was an increase in the indicator of covering the company’s liabilities with equity capital by 3.87 percentage points. – up to 68.84%. The volume of cash and cash equivalents on the accounts of IC Alfa Insurance increased by 16.33% – up to UAH 424.19 million, and the ratio between cash and gross liabilities of the insurer increased by 0.80 percentage points. – up to 77.16%.
The insurer’s assets increased by 17.8% to UAH 928.2 million.
The RA also notes that as of the reporting date, the company formed a portfolio of investments in government bonds (OVGZ and OZGP) in the amount of UAH 238.174 million, which had a positive effect on the provision of liquid assets.
The financial result from the operating activities of the insurer for the first half of 2022 compared to the same period in 2021 increased by 3.64 times – up to UAH 15.93 million, and its net profit increased by 4.18 times – up to UAH 19.38 million.
IC Alfa Insurance was founded in 2000 and is one of the top 10 leaders in the Ukrainian insurance market. Offers a versatile portfolio of services, including comprehensive business protection programs and a wide range of insurance products for individuals.
