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.
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.
