In January-March 2023 ALC “IC ARX Life” (ARX Life, Kiev) collected premiums to the amount of UAH 73,3 mln, that is by 5,06% more than in the same period last year.
It’s reported on the site of RA “Standard-Rating” about the renewal of credit rating/rating of financial stability (reliability) of the insurer at the level “uaAАА” according to the national scale.
The indemnities of the insurer in the Q1 of 2023, compared to the same period of 2022 has grown by 61,75% up to UAH 17,961 mln. Therefore, the level of payouts of the insurer has grown by 8,58 p.p. – up to 24,50%.
Acquisition expenses of the insurer have decreased by 4,22% down to UAH 38,333 mln in the first quarter of 2023 in comparison with the same period of 2022.
According to the results of work in the first three months of 2023 IC “ARCS Life” has received a net profit of UAH 15,410 mln that is 2,89 times more than the profit received in the Q1 of 2022.
As of April 1, 2023 the assets of the company have increased by 4.91% up to UAH 242,225 mln, shareholders’ equity has increased by 12.87% up to UAH 135,102 mln, liabilities have reduced by 3.66% down to UAH 107,123 mln, cash and cash equivalents have reduced by 39,85% down to UAH 39,819 mln.
At the same time, RA notes that as of April 1, 2023, the insurer has made financial investments in the amount of 182,043 mln UAH, consisting of government bonds (83,52%) and deposits in banks (16,48%).
ARX Life, like ARX, is a part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top 10 companies in the life insurance market in Ukraine.
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.
