Business news from Ukraine

Business news from Ukraine

“Guardian” for 11 months paid to clients insurance indemnities for more than 450 million UAH

Insurance company “Guardian” (Kiev) in January-November 2024 made insurance indemnities in the amount of UAH 457.5 million, which is 32.8% more than for the same period of 2023, according to the insurer’s website. It is specified that payments on CASCO amounted to UAH 31,7 million, which is 59,1% more than for the same period last year, MTPL – UAH 164,7 million, “Green Card” – UAH 258,05 million (+43,5%), insurance of medical expenses – UAH 0,5 million (+80,5%).
IC “Guardian” is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020 it has received the status of a full member of the ITSBU, has the right to sell “Green Card” policies.
In October 2020 by the decision of the general meeting of the members of the Nuclear Insurance Pool of Ukraine IC “Guardian” became its member.

 

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Guardian Insurance Company has increased payments by 38.4%

In January-September 2024, Guardian Insurance Company (Kyiv) made insurance claims in the amount of UAH 389.61 million, which is 38.37% more than in the same period in 2023, according to the insurer’s website.
It was specified that the growth was due to a 49.2% increase in Green Card payments.
During the reporting period, the company collected UAH 769.5 million in insurance payments, which is 31.3% less than a year earlier. The main reason for this is a reduction in payments and lower sales of the Green Card. Thus, during the reporting period, 120.8 thousand contracts were concluded for this type of insurance, which is 9.2% less compared to the same period in 2023.
According to the report, motor hull insurance premiums for the first nine months increased by 57.3% to UAH 53.1 million, for third-party liability – from UAH 2.9 million to UAH 15.3 million, for voluntary civil liability insurance of land transport owners – from UAH 7.3 million to UAH 9.3 million (+27%).
The company emphasizes that the priority tasks facing its team this year are: strengthening and expanding positions in the regions and, accordingly, staff training, diversification of the product portfolio with a focus on increasing the share of voluntary insurance.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020, it has acquired the status of a full member of the MTIBU and has the right to sell Green Card policies.
In October 2020, according to the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.

Guardian Insurance Company has launched new hull insurance program with full coverage of military risks

Guardian Insurance Company (Kyiv) has developed a new insurance product, Guardian CASCO, covering military risks up to 100% of the vehicle’s value, according to the insurer’s website.

According to the terms of the insurance product, any type of vehicle, including electric vehicles, up to five years old and costing from UAH 1 million to UAH 10 million, is subject to insurance. The deductible is 0% for all risks. The insurance rate ranges from 3% to 4.2% (depending on the selected conditions).

The program covers standard insurance risks: Road traffic accident; fire; natural disaster; natural phenomena; illegal actions of third parties; other accidental events; illegal possession, as well as war risks: damage/destruction of the vehicle as a result of military operations due to the use of weapons, including unmanned aerial vehicles of any type and/or their wreckage, air defense equipment and/or ammunition on the territory of Ukraine in areas where military (combat) operations are not underway and are not under temporary occupation.

As an additional bonus, additional coverage is provided, in particular: gross violations of traffic rules, damage during evacuation – up to 5% of the sum insured once during the term of the contract.

The program does not impose age restrictions on drivers authorized to drive a vehicle. It is possible to pay the insurance premium in one lump sum or in installments.

Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it received the status of a full member of the MTIBU and is entitled to sell Green Card policies.

“Guardian” will insure cars ”Ukrposhta”

On July 23, the Ukrainian State Postal Communications Enterprise (USPCE) Ukrposhta (Kiev) announced its intention to conclude a contract with IC Guardian (Kiev) for the services of compulsory insurance of civil liability of owners of motor vehicles (OSAGO).

As reported in the system of electronic public procurement “Prozorro”, at the expected cost of the purchase of services1,151 million UAH price proposal of IC “Guardian” amounted to 363.3 thousand UAH,

The tender was also attended by “European Insurance Alliance” – UAH 369,01 thousand, “Inter-Policy” – UAH 524,9 thousand, “Euroins Ukraine” – UAH 1,036 million.

IC “Guardian” has been working in the insurance market since 2007. It is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020 it has received the status of a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU), has the right to sell “Green Card” policies.

 

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Insurer Guardian increased payments by third

In August 2023, Guardian Insurance Company (Kyiv) collected UAH 109.5 million in payments, which is 22.94% more than in the same period a year earlier, according to the insurer’s website.

It is also reported that in August, the company increased insurance payments by 32.13% compared to the same period a year earlier – up to UAH 35.05 million.

Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it became a full member of the MTIBU and has the right to sell Green Card policies.

In October 2020, by the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.

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Guardian Insurance Company wins Ukrposhta’s tender

On August 24, Ukrposhta, the Ukrainian state postal service enterprise, announced its intention to conclude a contract with Guardian Insurance Company for the provision of compulsory motor third party liability insurance (MTPL).

According to the Prozorro electronic public procurement system, the company’s price offer amounted to UAH 681,743 thousand, with the expected value of the tender at UAH 2.166 million.

The tender was also attended by European Insurance Alliance (UAH 1.003 million) and Krayina (UAH 1.077 million).

Guardian Insurance Company has been operating in the insurance market since 2007.

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