In 2023, Euroins Ukraine Insurance Company (Kyiv) increased premiums by 20.4% compared to 2022, up to UAH 565 million, according to the insurer’s information.
Last year, the company concluded more than 662 thousand insurance contracts, which is 17% more than in the previous year.
The largest growth was recorded in hull insurance – by 24.3%, or UAH 69.737 million, health insurance (VHI) – by 109.9% (UAH 56.285 million), accident insurance – by 24.4% (UAH 2.528 million), and civil liability insurance for owners of land transport (including carrier liability) – by 2.6% (UAH 305 thousand).
The volume of paid indemnities in 2023 increased by 41.5% compared to 2022 to UAH 265.343 million.
“Euroins Ukraine is a universal insurance company that has been operating in the Ukrainian market since 1992. It is a part of the Bulgarian insurance group Euroins, which is one of the largest independent insurance groups operating in Central, Eastern and South-Eastern Europe. EIG is a subsidiary of Eurohold Bulgaria, a leading energy and financial group in Central, Eastern and South-Eastern Europe.
Insurance company “Euroins Ukraine” (Kiev), a subsidiary of international insurance group Euroins Insurance Group (EIG), in 2022 collected 469.1 million premiums, which is 20% less than in 2021, according to a press release.
The largest shares in the company’s portfolio were MTPL (61%), hull insurance (12%) and voluntary medical insurance (11%). The volumes of premiums grew in the segments of MTPL (+8% compared to 2021), accident insurance (+27%) and insurance against financial risks (+26%).
It is noted that the insurer fully complies with the requirements of the market regulator, has high financial stability and meets all obligations to clients.
The company also reports that last year the company paid out UAH 187,5 mln of insurance compensation, which is 12% less than in 2021. The biggest number of payments is in MTPL segment (117,7 mln UAH, +13% vs. the amount paid in 2021). On average, the company made payments to clients in the amount of more than 700 thousand hryvnias daily.
“This year was very difficult, but we have maintained high financial stability, fulfilled our obligations to the clients and partners and met the strict requirements of the market regulator. This is the main result of our work, which the team fulfilled with the full support of European shareholders. The growth of premiums in CMTPL insurance gives hope to maintain the volume of business in 2023. The decrease in charges in CASCO, VMI, property insurance, travel insurance was inevitable for the whole insurance market”, – notes the chairman of the board of IC “Euroins Ukraine” Janko Nikolov.
IC “Evroins Ukraine” – a universal non-life insurer, works in the Ukrainian market since 1992. The company has about 100 representative offices throughout the country, has 25 licenses, 16 of them – on voluntary and 9 – on compulsory types of insurance.
IC Euroins Ukraine is a member of the Motor (transport) Insurance Bureau of Ukraine, actively working in the segments of car insurance, medical insurance, property insurance, liability and cargo insurance for private and corporate clients. Since the beginning of 2021 Euroins Ukraine is a member of National Association of Insurers of Ukraine (NASU).
