Insurance companies UNIQA and UNIQA Life (both – Kyiv), included in the nonbank financial group UNIQA Ukraine, in May of this year paid out UAH 86.9 million in insurance claims, according to the website of the UNIQA insurance company.
At the same time, under car insurance policies, the total amount of insurance payments reached UAH 39.4 million, of which payments under voluntary car insurance policies were UAH 33.7 million, for compulsory insurance of land vehicle owners’ civil liability and voluntary insurance of land vehicle owners’ civil liability – UAH 5.7 million.
The amount of payments under voluntary medical insurance policies totaled UAH 20.7 million. The amount of life insurance payments is UAH 4.4 million.
The largest payment was UAH 6.9 million under a property insurance policy.
Medical assistance UNIQA for the reporting period processed more than 51,322 appeals, technical assistance – more than 10,944, the group said.
UNIQA Group (Austria) entered the Ukrainian market in 2006. Its companies in Ukraine – UNIQA and UNIQA Life with headquarters in Kyiv – offer most types of risk and life insurance through a nationwide network.
The insurance company “Prince Life Vienna Insurance Group” (Kyiv) collected UAH 14.275 million in insurance payments in January-March 2022, which is 21.84% less than in the same period a year earlier.
This was reported on the website of the Standard-Rating rating agency, which confirmed the financial strength/credit rating of the UK at uaAA+ in the first quarter of 2022.
According to the report, the volume of payments and compensations made by the insurer for the specified period amounted to UAH 3.627 million, which is 41.21% lower than the volume of payments for the first quarter of 2021. Thus, the level of payments decreased by 8.37 percentage points. – up to 25.41%.
Acquisition costs of the insurer decreased by 16.76% – to UAH 2.681 million.
At the same time, the insurer received a net profit of UAH 3.556 million, which is 3.10% higher than the profit for the first three months of 2021.
As of March 31, 2022, the company’s assets increased by 4.49% – to UAH 634.504 million, equity showed an increase of 1.79% – to UAH 107.241 million, liabilities increased by 5.06% – to UAH 527.263 million, cash and their equivalents – by 98.74%, up to UAH 109.027 million.
At the beginning of the second quarter of 2022, equity covered 20.34% of the insurer’s liabilities, of which 20.68% were secured by cash and cash equivalents.
At the same time, it is noted that as of April 1, 2022, the insurer formed a portfolio of investments in bank deposits in the amount of UAH 39.900 million, as well as investments in government bonds in the amount of UAH 445.808 million. Thus, at the beginning of the second quarter, liquid assets (cash and cash equivalents, bank deposits and government bonds) covered 112.80% of the insurer’s liabilities, which indicates a very high level of the company’s provision with liquid assets.
The RA notes that the company’s high level of external support is provided by its shareholder, the international insurance group headquartered in Austria, Vienna Insurance Group Wiener Städtische Versicherung AG., which is represented by 50 companies in 30 countries and is the leader in the insurance market in Central and Eastern Europe.
According to preliminary data from VIG for the first quarter of 2022, premiums increased by 11.2% compared to the same period in 2021 to 3.45 billion euros, profit before tax decreased by 3.3% to 124 million euros, and combined ratio improved by 0.6 p.p. – up to 94.6%.
French President Emmanuel Macron, German Federal Chancellor Olaf Scholz and Italian Prime Minister Mario Draghi have arrived in Ukraine.
A photo of the leaders of France, Germany and Italy on the train was posted on the Telegram channel of Ukrazilaznytsia on Thursday morning.
The international vertically integrated pipe and wheel company (TKK) Interpipe received $91.316 million in net profit in 2021, while in 2020 this figure was $195.116 million (a decrease of 53.2%).
According to the company’s annual report, pre-tax profit was $110.907 million compared to $227.405 million in 2020.
At the same time, last year’s revenue increased to $1 billion 132.9 million from $865.131 million.
At the same time, Interpipe increased free cash from $96.631 million to $109.627 million over the year.
In 2020, Interpipe reduced its net profit by 4.2 times compared to 2019 – to $195.116 million from $828.656 million, revenue decreased by 22.9% – to $865.131 million.
Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. The company’s products are supplied to more than 80 countries through a network of sales offices located in the key markets of the CIS, the Middle East, North America and Europe.
The structure of the company includes five industrial assets: Interpipe Nizhnedneprovsk Pipe Rolling Plant (NTZ), Interpipe Novomoskovsky Pipe Plant (NMTZ), Interpipe Niko-Tube, Dnipropetrovsk Vtormet, and the Dneprostal electric steel-smelting complex under the Interpipe Steel brand .
The ultimate owner of Interpipe Limited is Ukrainian businessman Viktor Pinchuk and members of his family.
Insurance company “Universalna” (Kyiv) in January-March 2022 collected UAH 205.182 million of gross insurance premiums, which is 18.53% less than in the same period a year earlier, according to the website of the Standard-Rating rating agency “.
The report also states that the agency has updated the credit/financial stability (reliability) rating of IC Universalna at uaААА on the national scale based on the analysis of work for the specified reporting period.
According to the published data, income from individuals increased by 19.54% to UAH 111.709 million, and from reinsurers, on the contrary, decreased by 46.45% to UAH 0.226 million.
Given the increase in premiums from individuals, in the first quarter of 2022, individuals dominate the company’s client portfolio. At the same time, according to the results of activities during the first three months of 2022, the largest share of premiums (more than 43%) came from voluntary land transport insurance (CASCO).
Insurance payments sent to reinsurers for the first quarter of 2022 compared to the first quarter of 2021 decreased by 72.97% to UAH 10.773 million. Thus, the coefficient of participation of reinsurers in insurance premiums decreased by 10.58 percentage points. up to 5.25%.
The insurer’s net premiums decreased by 8.29% to UAH 194.409 million, while earned premiums increased by 24.96% to UAH 275.683 million.
In the first quarter of 2022, IC Universalna paid out UAH 76.793 million to its customers, which is 6.67% lower than in the same period in 2021. Considering the high rate of reduction in gross premiums over insurance claims, the level of payments increased by 4.76 percentage points. to 37.43%.
The RA also reports that the financial result from operating activities amounted to UAH 19.335 million, which is almost three times higher than in the first quarter of 2021, and the insurer’s net profit in the period under review increased by 95.71% to UAH 9.449 million.
As of March 31, 2022, the company’s assets decreased by 7.32% to UAH 1.227 billion, equity increased by 2.37% to UAH 408.599 million, liabilities decreased by 11.50% to UAH 818.733 million, cash and equivalents decreased by 18.75% to UAH 76.799 mln.
As of April 1, 2022, IC Universalna formed a portfolio of bank deposits in the amount of UAH 437.741 million, and the insurer invested UAH 118.980 million in government bonds. Cash and cash equivalents covered 9.38% of the company’s liabilities, liquid assets (cash, bank deposits and government bonds) covered 77.38% of the insurer’s liabilities, and the Company’s equity coverage of liabilities was 49.91%.
The RA draws attention to the fact that PJSC IC Universalna has an international composition of shareholders, in particular, the European Bank for Reconstruction and Development (owns 30% of shares) and Fairfax Financial Holdings Limited (owns 70% of shares). Fairfax Financial Holdings Limited (Canada) – a holding company that, through its subsidiaries, is primarily engaged in casualty insurance, property insurance and investment management Fairfax Financial Holdings Limited.
As of the beginning of the second quarter of 2022, the holding’s consolidated assets were $88.587 billion, Fairfax’s consolidated gross business (premiums) for the first quarter of 2022 was $6.663 billion, and profit before tax for the first quarter of 2022 was $249 million.
President of the United States Joe Biden has said he had informed President of Ukraine Volodymyr Zelensky that the U.S. is providing another $1 billion in security assistance for Ukraine, the White House reported on Wednesday.
“I informed President Zelensky that the United States is providing another $1 billion in security assistance for Ukraine,” Biden said in the statement posted on the website of the White House.
Biden also said that the assistance includes “additional artillery and coastal defense weapons, as well as ammunition for the artillery and advanced rocket systems.”
The U.S. remains committed to supporting the Ukrainian people whose lives have been ripped apart by this war, Biden said.
“Today, I am also announcing an additional $225 million in humanitarian assistance to help people inside Ukraine, including by supplying safe drinking water, critical medical supplies and health care, food, shelter, and cash for families to purchase essential items,” the U.S. president said.
