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.
Private JSC “European insurance alliance” in 2022 collected 210.725 million UAH of insurance premiums and paid 84.038 million UAH, stated in a press release of the insurer.
It is noted that during the last year there were about 45 thousand insurance contracts, 75% of which were concluded with legal entities.
The largest share in the insurance portfolio of the company was voluntary health insurance (VMI) – 34.1%, compulsory and voluntary civil liability insurance for drivers (MTPL) – 23.4%, motor vehicle insurance (hull insurance) – 21.7%, property insurance and liability – 16.5%, other types of insurance – 4.3%.
In the insurance indemnity portfolio 46% accounted for VMI, 28.5% – hull insurance, 23.7% – MTPL, 1.5% – property insurance, 0.3% – other types of insurance.
“It was a very difficult year, but (…) we managed to save jobs and create the most comfortable and safe conditions for the organization of continuous work and provision of services. From the first day of the full-scale invasion, we focused on providing quality 24/7 service support and carried out a number of activities aimed at maintaining continuous communication with clients and partners. For this purpose we purchased all necessary equipment, and at the end of 2022 the central office of the company was moved to a more convenient and accessible location”, – notes the Chairman of the Board of Directors of IC “European Insurance Alliance”.
PrJSC European Insurance Alliance has been working in the insurance market of Ukraine since 1994, it is a member of the Motor (Transport) Insurance Bureau of Ukraine, a member of the agreement on direct settlement of losses on MTPL, a member of the Nuclear Insurance Pool of Ukraine.
The company provides about 30 types of voluntary and compulsory insurance.
Authorized capital – UAH 55 mln.
PrJSC European Insurance Alliance (Kyiv) in January-March 2018 collected UAH 40.348 million of net premiums, which is 25.8% more compared to the same period in 2017. According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the volume of signed premiums was UAH 49.770 million (an increase of 11%). Premiums worth UAH 8.674 million were transferred to reinsurance against UAH 8.914 million for the same period of 2017 (2.7% down).
During this period insurance claim fee payments rose by 38.4%, to UAH 21.135 million. The net profit of the company for the first three months amounted to UAH 1.135 million, while for the same period a year earlier some UAH 790,000.
According to official reports, the administrative expenses of the company amounted to UAH 5.087 million, which is 3.8% less than in the three months of 2017. PrJSC European Insurance Alliance has been working in the insurance market since September 1994. There are 17 structural divisions in Kyiv and the regions of Ukraine.
