On January, 26th “Vinnitsaoblenergo” Joint-Stock Company announced its intention to conclude the agreement on compulsory insurance of civil liability (OSAGO) with “Arsenal insurance” Insurance Company (Kyiv).
As reported in the electronic procurement system Prozorro, the price bid was 1,127 million UAH at the expected cost of 1.147 thousand UAH.
The company was the only bidder.
IC Arsenal Insurance is the successor of IC Arsenal-Dnepr, working in Ukraine since 2005. It is presented in all regional centers and some large cities of the country.
On October 20, the Dniprovokanal utility company of the Dniprovsky City Council and Arsenal Insurance Insurance Company (Kyiv) signed an agreement on compulsory insurance of civil liability of business entities for damage that may be caused by fires and accidents at 11 high-security facilities.
As reported in the ProZorr e-procurement system, the expected price was UAH 117,986, the company’s price offer is the same.
IC Arsenal Insurance is the assignee of IC Arsenal-Dnepr, which has been operating in Ukraine since 2005. Represented in all regional centers and some major cities of the country.
Arsenal Insurance (Kyiv) for the six months of 2019 increased the volume of KASKO premiums by 33.6%, to UAH 383 million, according to a press release from the company.
“According to data of the Insurance TOP rating of insurers, the company showed the highest dynamics of growth in insurance premiums among the top five players (33.6%), as well as a high level of insurance payments (48.9%),” the press release said.
The company also reports that its share in the KASKO market exceeded 10% (the entire market collected UAH 3.77 billion).
The company insured more than 25,000 cars under KASKO contracts (7.33% of all cars insured under KASKO in Ukraine), including private car owners and corporate clients. OSAGO premiums grew by 7.4% and amounted to UAH 80.5 million.
It is also noted that for the first half of 2019, the insurer reimbursed for losses under KASKO insurance contracts to its customers in the amount of UAH 187.5 million, while OSAGO claim fee payments amounted to UAH 41.9 million.
Arsenal Insurance (Kyiv) in 2018 collected insurance premiums in the amount of UAH 1.886 billion, which is 19% more than a year earlier, according to a press release from the insurer.
Voluntary types of insurance, including KASKO, property insurance, collective medical insurance and other types account for 76% of the total premiums, mandatory types for 24% of the company’s total sales. This portfolio structure allows the insurer not only to occupy a significant market share, but also to generate profit: last year it amounted to UAH 22.6 million and grew by 2.8 times compared with 2017, the report says.
The company also reports that it achieved the most significant results in the auto segment: about 13,000 car owners and 6,500 corporate clients used KASKO services from Arsenal Insurance in 2018.
“Over 36% of our gross premiums last year accounted for KASKO. Our company was growing very actively in this sector, increasing sales for the year by 32%. This is the best dynamics among the top market players, and we are sincerely glad that more and more car owners trust their protection to our brand,” Serhiy Avdeyev, the board chairman of the company, said.
Arsenal Insurance is the successor of Arsenal-Dnipro insurer, operating in Ukraine since 2005. It is represented in all regional centers and some large cities of the country.
Arsenal Insurance (Kyiv) in January-September 2018 collected insurance premiums in the amount of UAH 1.185 billion, which is 2.2% more than in the same period of 2017, according to a press release from the insurer.
According to its data, about 40% of all receipts were payments from individual users of insurance services, mainly from the owners of KASKO, OSAGO, travel insurance and property protection policies.
At the same time, the company notes a significant increase in its presence in the corporate insurance sector. In particular, the volume of insurance of property owned by corporate clients has increased, as well as the provision of health insurance services for personnel: premiums in these areas increased by 48% and 28% respectively.
During this period, insurance claim fee payments to customers amounted to UAH 309.8 million (32.8% more). Of these, KASKO payments reached more than UAH 192 million on 8,350 insured events.
Arsenal Insurance is the successor of Arsenal-Dnipro, operating in Ukraine since 2005. It owns more than 25 licenses. It is represented in all regional centers and some major cities of the country.
