Insurance company Busin (Kyiv) in January-September 2024 collected UAH 160.6 mln of gross premiums, which is 6.98% less than in the same period of 2023.
It was informed by the rating agency Standard-Rating in the information on updating of credit rating/rating of financial stability of the insurer at the level of “uaAA+” according to the national scale on the basis of the analysis for the specified period.
At the same time receipts from reinsurers have decreased by 22,75% – to UAH 29,186 mln.
Insurance payments sent to reinsurers have increased by 61,35% to UAH 178,299 mln in the nine months of 2024 compared to the same period of 2023. Thus, the ratio of reinsurers’ participation in insurance premiums increased by 47.02 p.p. to 111.03%.
Net premiums for the mentioned period of 2024 amounted to UAH 17,706 mln, and net earned premiums – UAH 25,694 mln. During this period the company has paid to its clients UAH 31,869 mln of insurance payments and indemnities, which is more than 44 times higher than the volume of insurance payments for the same period of 2023. Thus, the level of payouts has increased by 19,42 p.p. – To 19.84%.
Assets of the company as of October 1, 2024 have decreased by 4,89% – to UAH 298,706 mln, shareholders’ equity has decreased by 18,30% – to UAH 161,156 mln, liabilities have increased by 17,75% – to UAH 137,55 mln, cash and cash equivalents have increased by 26,51% – to UAH 322,196 mln.
IC Busin has been registered in February, 1993. It specializes on risk types of insurance. It is a member of a number of professional and branch associations – League of Insurance Organizations of Ukraine, Insurance Payments Club, International Association of Aviation Insurers (UA), Nuclear Insurance Pool, American Chamber in Ukraine, British Business Club.
