On April 27, the shareholders’ meeting of Cardiff Insurance Company PJSC (Kyiv) elected Oleg Romanenko as the head of the board and Vladimir Erin and Sergey Manushkov as members of the company’s board.
IC “Cardif” started its activity in February, 2007. It specializes on provision of services in the field of risk insurance.
According to the National Commission on Securities and Stock Market, the major shareholder of the company is Cardif SA (France) with 99.99% of shares in the authorized capital.
Net loss of insurance company “Zaliznychny Shlyahy” (Poltava) in 2022 increased by 14.2% up to UAH 13,571 mln, reported in materials for the agenda of shareholders meeting scheduled for April, 3.
It is also noted that assets of the company grew by 2.9% up to UAH 56.173 mln.
Equity capital decreased by 4.6% to UAH 36.6 million, cash and cash equivalents increased by 17.9% to UAH 19.8 million, current liabilities remained almost the same as a year before – UAH 5.921 million.
Accounts receivable have grown by 6,7% following the results of the year – up to UAH 2,748 mln.
The authorized capital of the insurer has remained at the level of UAH 21,3 mln.
IC “Zaliznychny Shlyahy” was registered in 1994, it specializes in providing services in the field of risk insurance.
Shareholders of Busin Insurance Company (Kyiv) plan to allocate UAH 13.6 mln to dividends and UAH 48.8 mln to increase charter capital out of UAH 62.4 mln of financial profit earned in 2022, according to the agenda of shareholders meeting scheduled for March 31.
According to the company’s information posted in the database of the National Securities and Stock Market Commission (NSSMC), the emission is planned by increasing the nominal value of shares.
The remaining profits in the amount of UAH 21.935 ths will be left undistributed.
Besides the shareholders of the company are planning to carry out a transition to a one-level structure of management of the company, to determine the number of members of the Board of directors, to approve the new edition of the company’s charter.
IC Busin was registered in February, 1993. It specializes on risk kinds of insurance. It is member of several professional and industry associations: League of Insurance Organizations of Ukraine, National Club of Insurance Indemnities, International Association of Aviation Insurers (UA), Nuclear Insurance Pool, American Chamber in Ukraine, British Business Club.
As reported, in March 2021, its shareholders Larisa Nepochatova and Oleksiy Ovchinnikov reduced their stakes from 49.9% to 25%. In turn, Denis Ovchinnikov and Ivan Ovchinnikov increased their stakes from 0.009% to 12.495% and Oleksandr Nepochatov from 0.009% to 24.99%.
On January, 26th “Vinnitsaoblenergo” Joint-Stock Company announced its intention to conclude the agreement on compulsory insurance of civil liability (OSAGO) with “Arsenal insurance” Insurance Company (Kyiv).
As reported in the electronic procurement system Prozorro, the price bid was 1,127 million UAH at the expected cost of 1.147 thousand UAH.
The company was the only bidder.
IC Arsenal Insurance is the successor of IC Arsenal-Dnepr, working in Ukraine since 2005. It is presented in all regional centers and some large cities of the country.
LLC “Altair-Aktiv” owning 89.78% of shares of PJSC “Insurance company “Ultra Alliance” (formerly IC “Ultra” Kiev) reduced its stake to 0%, according to official information from the National Commission on Securities and Stock Market.
Also, it is noted that the shareholders of the company became Andrew Goreltsev, who owns 40.94% shares of the insurer and Viktor Moskalenko – 48.84%.
It was also informed that “Finance Group” LLC, which owned 9,97% earlier, has kept its stock at the same level.
The report also clarifies that Victor Moskalenko owns 54.4% of the authorized capital in “Altair-Aktiv” LLC, Andrei Goreltsev 9.98%, Leonid Parashchuk 7.43%, Olga Chuprina 9.41%, Igor Rudyak 6.69%, Liudmila Filinovskaya 6.69%, Liudmila Shchurova 5.40% of the authorized capital.
As reported, IC Ultra provides insurance services since 2004 and has 17 licenses for compulsory and voluntary types of insurance.
October 2, 2022 National rating agency “Rurik” has confirmed the long-term borrower rating of IC “Ultra Alliance” at level uaAA of investment category with the forecast “development” and insurer financial strength rating (stability) at level uaAА of investment category.
December 23, 2022 Expert-Rating RA rating committee decided to suspend the financial stability (reliability) rating of insurer PJSC Insurance Company “Alfa Insurance” (Kiev), according to the website of RA.
It also noted that the rating may be restored if the license of the company will be renewed.
As reported, the National Bank of Ukraine on December 5, 2022 has applied to PJSC IC “Alfa Insurance” a measure of influence in the form of temporary suspension of license to provide financial services.
The NBU also noted that these measures were applied in connection with the company’s non-compliance with the requirements of the Regulations on licensing and registration of financial service providers and their conditions of operation in the provision of financial services …, namely requirements for business reputation of financial service providers. The company must eliminate the violations by December 5, 2023.
Later, the Motor (Transport) Insurance Bureau of Ukraine reported on its website that due to the temporary suspension of a license of IC “Alfa Insurance” on compulsory insurance of civil liability of owners of vehicles (MTPL), it lost the right to enter into new contracts.
Earlier, it was reported that the last update of the financial stability rating (credit rating) of IC “Alfa Insurance” by RA “Standard-Rating” was performed on November, 2 2022 at the level uaAA+, according to the results of the 9 months of this year.
In the first three quarters of 2022 the company has collected UAH 719,327 mln of gross premiums that is by 32,97% less than in the same period of 2021. Net premiums have decreased by 32,75% down to UAH 711,449 mln, and earned premiums – by 16,23% down to UAH 849,317 mln.
The volume of indemnities paid out by IC “Alfa Insurance”, has decreased by 11,68% down to UAH 258,439 mln in the first nine months of 2022 comparing to the same period of 2021. Given the large rates of gross premiums decrease in comparison with insurance reimbursements, the level of payments has grown by 8,66 p.p. up to 35,93%.
The financial result from operating activities has grown in 3,77 times compared to the three quarters of 2021, and the net profit has increased in 4,09 times up to UAH 126,472 mln.
As reported, IC “Alfa Insurance” was founded in 2000. It offers a universal portfolio of services, including comprehensive programs to protect the interests of business and a wide range of insurance products for individuals.
