Insurance company Busin (Kyiv) in 2024 collected UAH 397.5 mln of gross premiums, which is 35.6% more than in 2023. This was reported by 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 outlined period. At the same time receipts from reinsurers have decreased by 26,64% – to UAH 31,677 mln.
Insurance payments sent to reinsurers for 2024 compared to 2023 have increased by 55,20% – up to UAH 301,021 mln. Thus, the ratio of reinsurers’ participation in insurance premiums has increased by 9.59 p.p. – up to 75,73%.
The company’s net premiums for 2024 amounted to UAH 96.457 mln, while net earned premiums amounted to UAH 40.325 mln.
Last year the company paid to its clients UAH 32,304 mln of insurance payments and indemnities, which is more than 24 times higher than the volume of insurance payments for the same period of 2023. Thus, the level of payouts increased by 7,68 p.p. – up to 8,13%.
Assets of the insurer on January 1, 2025 have decreased by 7,22% – to UAH 291,385 mln, shareholders’ equity has decreased by 19,94% – to UAH 157,908 mln, liabilities have increased by 14,26% – to UAH 133,477 mln, cash and cash equivalents have decreased by 0,35% – to UAH 253,783 mln.
IC Busin was 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.
