In 2024, PJSC “European Insurance Alliance” (Kyiv) collected UAH 309.6 million of net premiums, exceeding the volume for 2023 by 31.7%, and also increased by 20.5% the volume of gross premiums – up to UAH 362.5 million, according to the report of the
Standard Rating agency on updating the company’s financial strength rating (credit rating) at the end of the year on the national scale at the level of “uaAA”.
It is noted that revenues from individuals increased by 28.04% to UAH 113.481 million, while revenues from reinsurers, on the contrary, decreased by 31.3% to UAH 0.733 million. Thus, by the end of 2024, legal entities continue to prevail in the company’s client portfolio.
Last year, the company paid out UAH 169.7 million to its clients, which is 36.9% more than a year earlier.
According to the RA, as of the beginning of 2025, 46.8% of the company’s liabilities were covered by equity, and 3.99% by cash and cash equivalents.
At the same time, the company has formed a portfolio of financial investments, consisting of government bonds and bank deposits, in the amount of UAH 106.565 million, which has a positive impact on the insurer’s provision with liquid assets. Therefore, as of the beginning of 2025, liquid assets (cash, government bonds and bank deposits) covered 68.05% of the liabilities of “European Insurance Alliance” PrJSC.
PrJSC “European Insurance Alliance” has been operating in the insurance market of Ukraine since 1994. The company is a member of the Audit Commission of the MTIBU, a party to the agreement on direct settlement of losses for compulsory insurance of civil liability of owners of land vehicles and a member of the Council of the Nuclear Insurance Pool of Ukraine.
The company provides 30 types of voluntary and compulsory insurance, including property, motor, liability and personal insurance.
State enterprise NAEK Energoatom (Kiev) and IC “European Insurance Alliance” on March 4 concluded a contract for compulsory motor third party liability insurance of owners of land vehicles (MTPL).
As reported in the system of electronic public procurement Prozorro, the price offer of IC “European insurance alliance” amounted to UAH 309,009 thousand at the expected cost in the tender conditions of UAH 1,029 million.
IC “VUSO” – UAH 321,4 th. and IC “Krajina” – UAH 680 th., BBS Insurance – UAH 683,6 th. also participated in the tender.
“EUA” has been working in the insurance market of Ukraine since 1994, is a member of the Motor (transport) Insurance Bureau of Ukraine, a participant of the Agreement on direct settlement of losses on compulsory civil liability insurance of owners of land vehicles and a member of the Nuclear Insurance Pool of Ukraine.
PJSC “European Insurance Alliance” has renewed the reinsurance program for 2025, the main partner of which remained Hannover Re (Hannover Ruck SE, Germany) – one of the leading global reinsurers, which has a high international reliability rating A+ (Superior) from A.M. Best.
According to the press-release of the insurer, the combined obligatory reinsurance contract is prolonged on terms of risk excedent of loss. It covers all losses under contracts of insurance or facultative reinsurance of property, engineering risks, cargo risks, liability risks and hull insurance.
The program covers both commercial and private insurance objects in accordance with the general terms and conditions of insurance products and original insurance contracts.
Risks that are not covered by the aforementioned obligatory contract are reinsured on a facultative basis.
“The prolongation of the obligatory program with a reputable European reinsurer is a step towards further strengthening our position in the market. Long-term and fruitful cooperation with Hannover Re is a sign of stability and mutual trust”, – said Marina Voronyanskaya, Chairman of the Board of IC ‘European Insurance Alliance’.
PJSC “European Insurance Alliance” has been working in the insurance market of Ukraine since 1994, is a member of the Motor (Transport) Insurance Bureau of Ukraine, League of Insurance Organizations of Ukraine and Nuclear Insurance Pool of Ukraine.
The company has the NBU License for 16 classes of insurance, in particular, property insurance, land transport, liability, health insurance, etc.
PJSC “Ukrhydroenergo” on December 4 announced its intention to conclude with IC “European Insurance Alliance” the contract of compulsory insurance of motor liability of owners of land vehicles.
According to the information on the web portal Prozorro, the price offer of IC “European Insurance Alliance” amounted to UAH 773.3 million at the expected cost of the purchase of services of UAH 790.27 thousand. IC Krajina participated in the tender with the offer of UAH 774,4 th.
EUROPEAN INSURANCE ALLIANCE, MOTOR INSURANCE, UKRHYDROENERGO
In January-September 2024, PJSC “European Insurance Alliance” (Kyiv) collected UAH 220.9 million of net premiums, which is 23.03% higher than the volume of premiums for the same period in 2023, and also increased by 10.3% the collection of gross premiums – up to UAH 254.8 million.
In the report of the Standard Rating agency on the update of the company’s financial strength rating (credit rating) for the first nine months of 2024 on the national scale at the level of “uaAA”, it is noted that revenues from individuals increased by 34.3% to UAH 78.7 million, from reinsurers – more than doubled to UAH 0.875 million.
Thus, legal entities continue to dominate the company’s client portfolio.
During the reporting period, the company paid out UAH 121.8 million in insurance claims, which is 46.1% more than in the same period a year earlier.
As of the beginning of the fourth quarter of 2024, 53.36% of the company’s liabilities were covered by equity, and 10.49% by cash and cash equivalents.
At the same time, the company has formed a portfolio of financial investments consisting of government bonds and bank deposits in the amount of UAH 83.270 million. At the beginning of the fourth quarter of 2024, liquid assets (cash, government bonds and bank deposits) covered 67.27% of the company’s liabilities.
European Insurance Alliance has been operating in the Ukrainian insurance market since 1994. The company is a member of the Audit Commission of the MTIBU, a party to the agreement on direct settlement of losses on compulsory insurance of civil liability of owners of land vehicles and a member of the Board of the Nuclear Insurance Pool of Ukraine.
The company provides 30 types of voluntary and compulsory insurance, including property, motor, liability and personal insurance.
PJSC “European Insurance Alliance” (Kyiv) has collected UAH 146,098 mln of gross premiums in January-June 2023, which exceeded by 39,43% the volume of premiums for the same period of 2022.
In the message of Rating Agency “Standard-Rating” on updating the financial stability rating (credit rating) of the company for the first half of 2023 on the national scale at the level of “uaAА” it is indicated that receipts from individuals have increased by 61.51% – to UAH 37.957 mln, and from reinsurers, on the contrary, have decreased by 24.10% to UAH 0.444 mln.
Thus, following the results of the first half of 2023 legal entities continue to prevail in the client portfolio of the company.
Net premiums collected by the company grew by 41.9% to UAH 125.6 mln, earned premiums – by 32.6% to UAH 113 mln.
During the reporting period, the company paid UAH 51.7 mln, which is 28.3% more than in the same period last year.
Net profit has amounted to UAH 1,9 mln (+76,3%), financial result from operating activities – UAH 3,95 mln (+20,3%).
Assets of the insurer as of June 30, 2023 have amounted to UAH 229,2 mln (+15,5%), shareholders’ equity – UAH 85,6 mln (-0,17%), cash and cash equivalent – UAH 74 mln (+29%).
PJSC ‘European Insurance Alliance’ has been working in the insurance market of Ukraine since 1994. It is a member of the Audit Commission of the ITSBU, a participant of the Agreement on direct settlement of losses on compulsory insurance of civil liability of owners of land vehicles and a member of the Council of the Nuclear Insurance Pool of Ukraine.
The Company provides 30 types of voluntary and compulsory insurance, including property, automobile, liability and personal insurance.
