In 2024, “Insurance Company ‘ARX’ PrJSC (ARX, Kyiv) collected gross insurance premiums in the amount of UAH 4.280 billion, which is 15.94% more than a year earlier.
These statistics are available on the website of RA Standard-Rating on the update of the company’s credit rating/financial strength (reliability) rating at uaAAA according to the national scale in 2024.
Income from individuals increased by 13.20% to UAH 2.617 billion, and from reinsurers increased 2.2 times to UAH 14.268 million. Thus, at the end of 2024, the share of individuals in the insurer’s gross premiums amounted to 61.14%, and the share of reinsurers – 0.33%.
In 2024, insurance payments sent to reinsurers increased by 15.74% compared to 2023 – up to UAH 114.375 million. The ratio of participation of reinsurance companies in insurance premiums of IC “ARKS” practically did not change and amounted to 2.67% in 2024.
RA notes that net written premiums increased by 15.94% to UAH 4.166 billion, and net earned insurance premiums increased by 16.18% to UAH 3.895 billion.
The volume of insurance claims paid by the company in 2024 increased by 24.23% compared to 2023, to UAH 1.720 billion. Thus, the level of payments increased by 2.69 p.p. to 40.19%.
Profit from operating activities amounted to UAH 170.090 million, and net profit amounted to UAH 452.835 million.
As of January 1, 2025, the company’s assets increased by 17.70% to UAH 5.220 billion, equity showed an increase of 20.77% to UAH 2.633 billion, liabilities increased by 14.73% to UAH 2.587 billion, cash and cash equivalents increased 4.16 times to UAH 817.524 million.
The RA also reports that as of the beginning of 2025, the insurer made financial investments in the amount of UAH 2.922 billion, which consisted of government bonds and government bonds (81.76% of the investment portfolio) and deposits in banks with investment grade credit ratings (18.24% of the portfolio), which had a positive impact on the provision of liquid assets, which exceeded the liabilities of IC “ARKS” by 1.45 times.
“ARKS” Insurance Company is a part of the international insurance holding Fairfax Financial Holdings Ltd. The company has been a leader in the hull insurance segment of the Ukrainian market for 13 years.
In 2024, ARX (risk insurance) and ARX Life (life insurance) insurance companies paid almost UAH 1.8 billion to customers, which is 23% more than last year, of which ARX paid UAH 1.72 billion (+24.6%), according to a press release from the insurer.
In 2024, hull insurance payments amounted to almost UAH 1.02 billion, which is 22% more than in 2023, motor third party liability – UAH 164 million (+ 41% by 2023), VHI – UAH 307 million (+ 16%), property insurance – UAH 97 million (+ 69%).
Every day, the company paid out an average of almost UAH 6.6 million to customers.
As reported, the total premiums of ARX and ARX Life insurance companies in 2024 amounted to UAH 4.6 billion, which is 15% more than in 2023. The amount of premiums collected by ARX Insurance Company for hull insurance policies amounted to UAH 2.4 billion (+22% compared to 2023), for MTPL – UAH 535 million (+21%), and for property insurance – UAH 532.8 million (+20%).
The net profit of ARX and ARX Life last year amounted to almost UAH 520 million.
ARX is the first insurer in Ukraine to offer military risk coverage of up to UAH 100 million through a strategic agreement with DFC. Previously, the maximum coverage amount was UAH 20 million.
In January-September 2024, ARX Insurance Company (IC ARX Kyiv) collected more than UAH 3.1 billion in insurance premiums, which is 14% more than in the same period a year earlier, according to the insurer.
According to the company, payments for the first nine months amounted to UAH 1.3 billion, up 28%. On average, insurance claims payments per day amounted to UAH 6.5 million.
The company also reports that over UAH 1.7 billion in premiums were collected for motor hull insurance, which is 24% more than in the first nine months of the previous year, UAH 360.8 million (+10%) for property insurance, and UAH 256.1 million (+23%) for MTPL insurance.
In the 13 months since the launch of property insurance against war risks, ARX has insured more than 200 companies with a total coverage of UAH 2.659 billion.
The company’s total insurance premiums, including life and non-life segments, amounted to UAH 3.40 billion (+14% yoy). In the life insurance segment, insurance premiums amounted to UAH 251.2 million (+7% by 2023).
According to the report, ARX and ARX life insurance companies paid UAH 358 million in taxes in the first nine months of 2024. In total, since the beginning of the war, they have paid more than UAH 1 billion in taxes to the state budget.
ARX and ARX Life are part of the international insurance holding Fairfax Financial Holdings Ltd.
ARX Insurance Company is one of the five leading insurance companies in Ukraine in terms of premiums collected and payments made. It has been a leader in the hull insurance segment of the Ukrainian market for 13 years.
ARX Life is among the top ten companies in the life insurance market in Ukraine.
In January-June 2024, PJSC “Insurance Company ‘ARX’ (ARX, Kyiv) collected gross insurance premiums in the amount of UAH 1.955 billion, which is 14.38% more than in the same period a year earlier, according to the website of RA ‘Standard-Rating’ on updating the company’s credit rating/financial strength (reliability) rating at the level of ‘uaAAA’ on the national scale for 6 months. 2024.
It is noted that revenues from individuals increased by 7.93% to UAH 1.145 billion, and from reinsurers – by 2.13 times to UAH 5.789 million. Thus, in the first half of 2024, the share of individuals in the insurer’s gross premiums amounted to 58.58%, and the share of reinsurers – 0.30%.
Insurance payments sent to reinsurers in the first half of 2024 compared to the first half of 2023 increased by 34.43% to UAH 50.028 million, and the ratio of their participation in insurance premiums of IC “ARKS” increased by 0.38 p.p. to 2.56%.
The RA also notes that net written premiums increased by 13.94% to UAH 1.905 billion, and net earned premiums increased by 23.50% to UAH 1.902 billion.
The volume of insurance payments made by the insurer in the first half of 2024 compared to the same period in 2023 increased by 36.83% to UAH 856.077 million, the level of payments increased by 7.19 percentage points to 43.79%.
According to the results of the first six months, the company’s profit from operating activities amounted to UAH 53.192 million, and net profit amounted to UAH 287.453 million.
As of July 1, 2024, the company’s assets increased by 7.10% to UAH 4.750 billion, equity showed an increase of 13.18% to UAH 2.468 billion, liabilities increased by 1.21% to UAH 2.282 billion, cash and cash equivalents increased by 45.15% to UAH 284.967 million.
Thus, as of the beginning of the second half of 2024, 12.49% of the company’s liabilities were covered by cash and cash equivalents. At the same time, as of the reporting date, the insurer made financial investments in the amount of UAH 3.09 billion, which consisted of domestic government bonds and government bonds (90.46% of the investment portfolio) and deposits in banks with investment grade credit ratings (9.54% of the portfolio).
ARKS Insurance Company is part of the international insurance holding Fairfax Financial Holdings Ltd. The company has been a leader in the hull insurance segment of the Ukrainian market for 13 years.
KMZ Industries (Karlivka Machine-Building Plant, KMZ, Poltava region) has agreed with the Ukrainian subsidiary of Fairfax Financial Holdings Limited, ARX (the largest insurance company in Ukraine), to insure its elevators against military risks to reduce the risks of losses for agricultural producers, the company’s press service reported on Facebook.
“Today, Ukrainian farmers continue to build and expand capacities at their own risk (…), as the consequences of arrivals can be of different scales. Since 2022, our specialists have carried out a number of repair and restoration works at elevators damaged by debris, and therefore we know how big business losses can be due to this factor,” KMZ Industries Deputy CEO for Development Borys Rybachuk explained, as quoted in the statement.
He emphasized that although KMZ Industries, thanks to the experience gained during the military invasion of the Russian Federation, offers its customers solutions that will optimize and reduce the cost of repairs for farmers, the availability of insurance can fully or partially save them from financial costs in the event of an insured event.
KMZ Industries expects that the war risk insurance service will be relevant and in demand among both small farms and large companies, as they will be able to obtain insurance coverage for a small payment compared to the indemnity limit.
The Property Insurance against Military Risks service provided by ARX covers loss or damage to the insured property solely as a result of direct and/or indirect impact from missiles, UAVs of any type, aircraft munitions, air and missile defense equipment, and any of their fragments.
The annual insurance fee is calculated individually, taking into account the location, area and value of the property.
ARX Insurance Company is a part of the international Canadian insurance group Fairfax Financial Holdings, which has been operating in the Ukrainian market for 26 years, 11 of which have been under the AXA Insurance brand.
KMZ Industries manufactures flat-bottomed and conical-bottomed silos, flour storage silos, Brice-Baker (British-designed) and DSP (Ukrainian-designed) shaft grain dryers, transportation equipment (elevators, chain, belt and screw conveyors), grain cleaning separators, assembles and automates elevator equipment and technological processes at grain storage facilities.
Dragon Capital Investments Limited (Cyprus), whose ultimate beneficiary is Tomas Fiala, owns 80% of KMZ shares, while Variant Agro Bud LLC owns 20%.
In 2023, ARX Insurance Company (ARX Kyiv) made insurance payments in the amount of UAH 1.384 billion, which is 33.07% more than a year earlier.
According to the company’s Facebook page, in December 2023, the company paid UAH 131.025 million to its clients, including UAH 67.632 million in voluntary motor hull insurance, UAH 14.456 million in compulsory motor third-party liability insurance, UAH 36.196 million in voluntary health insurance, and UAH 2.963 million in Green Card insurance.
As reported, ARX Insurance Company has been operating in the insurance market for 26 years. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).
