In January-September 2024, PJSC “Insurance Company ‘Persha’ (Kyiv) collected UAH 832.3 million of gross premiums, which is 38.9% more than in the same period of 2023.
According to the Expert Rating agency, which confirms the credit rating/financial strength rating of the insurer at the level of “uaAA” on the national scale, its assessment was based on the analysis of the insurer’s activities for 9 months. 2024.
It is specified that the part of the insurance premiums of the IC in the period under review, which belongs to reinsurers, increased by 8.89%, and their share in the structure of the company’s gross premiums decreased by 1.96 percentage points to 7.09%.
In the first three quarters of 2024, the company made 62.06% more insurance payments and reimbursements (UAH 320.5 thousand) than in the same period of 2023, and the level of payments increased by 5.52 percentage points to 38.51%.
As of June 1, 2024, the shareholders’ equity of IC “Persha” increased by 12.08% to UAH 207.65 million, and its gross liabilities showed an increase of 14.47% to UAH 848.92 million. The level of equity coverage of liabilities decreased by 0.52 percentage points to 24.46% as of the beginning of the fourth quarter of 2024.
As of the reporting date, the amount of cash and cash equivalents on the company’s accounts decreased by 17.08% to UAH 207.25 million, and the level of cash coverage of the insurer’s liabilities in the analyzed period decreased by 9.29 percentage points to 24.41%.
At the same time, as of September 30, the company formed a portfolio of current liquid financial investments consisting of bank deposits in the amount of UAH 52.78 million. As of the beginning of the fourth quarter of 2024, liquid assets covered 30.63% of the liabilities of IC Persha.
The RA also notes that according to the results of the first nine months of 2024, the activities of IC “Persha” were profitable. In particular, the insurer’s operating profit amounted to UAH 2.93 million against an operating loss in January-September 2023, and net profit amounted to UAH 11.19 million (-7.43%).
“Persha” Insurance Company has been operating in the Ukrainian insurance market since 2001. The company’s main specialization is motor insurance. IC “Persha” is a member of MTIBU, the League of Insurance Organizations of Ukraine, and the National Insurer of International Road Transport Carnet (TIR).
