The National Bank of Ukraine (NBU) has revoked the license of insurance company “Professional Insurance” (Kyiv) to conduct insurance activities due to violations of licensing requirements.
According to the NBU website, the board’s decision to revoke the license was made on December 30, 2025, and came into effect on the same day after its publication.
From the date of entry into force of the decision, the insurer loses the right to conclude insurance contracts and extend the term of existing contracts, as well as to conclude new contracts or make changes to existing ones that lead to an increase in obligations to clients for the relevant classes of insurance.
Earlier that day, the National Bank refused to allow IC “Professional Insurance” to conclude written agreements on measures to eliminate previously identified violations of the requirements for the authorization of financial service providers and the conditions for their activities. The regulator explained its refusal by saying that such agreements do not provide sufficient confidence in the timely and complete elimination of this violation.
In its decision, the NBU called the insurance company’s registration in August 2024 of an increase in its authorized capital from UAH 8 million to UAH 48 million without obtaining the regulator’s consent a violation. The document states that the owners of Professional Insurance, Roman Kuzmenko and Yevgen Vasilenko, bought domestic government bonds, then sold these bonds to other insurers, and used the proceeds to increase the authorized capital. However, the National Bank recognized that the sources of the funds were not confirmed and therefore refused to approve both the increase in the authorized capital and its reduction back to UAH 8 million due to a violation of prudential requirements.
The company’s attempts at the end of 2025 to reach an agreement with the National Bank on the conclusion of written agreements were unsuccessful.
Professional Insurance Insurance Company was established in 2007 and has 44 licenses to conduct insurance activities.
According to YouControl, the company’s net earned insurance premiums for the first nine months of this year amounted to UAH 2.4 million, compared to UAH 0.71 million for the same period in 2024, and net profit amounted to UAH 4.80 million, compared to UAH 0.93 million.
Insurance company Busin (Kyiv) collected UAH 175.2 million in gross premiums in January-September 2025, which is 9.08% more than in the same period of 2024, according to Standard Rating, which updated the insurer’s credit rating/financial stability rating to “uaAA+” on the national scale based on an analysis of the specified period.
The rating agency’s report notes that revenues from reinsurers increased by 6.05% to UAH 189.1 million, and the ratio between premiums attributable to reinsurers and gross premiums decreased by 3.09 percentage points (pp) to 107.94%.
In the first nine months of 2025, the company paid out UAH 215,000 in insurance payments and reimbursements to its clients, compared to UAH 31.869 million in the same period of 2024. RA notes that significant fluctuations in the volume of business and the level of payments of JSC IC Busin are related to the specifics of its activities and specialization in insurance of large risks, in particular aviation risks.
As of September 1, 2025, the company’s assets decreased by 5.44% to UAH 282.5 million, equity increased by 13.4% to UAH 182.7 million, and cash and cash equivalents decreased by 26.9% to UAH 235.6 million.
RA notes that the financial results of Busin Insurance Company JSC improved significantly in the period under review. In particular, based on the results of the first nine months of 2025, the insurer received significant amounts of operating profit (UAH 34.08 million) and net profit (UAH 24.84 million), while based on the results of the same period in 2024, the insurer’s activities were unprofitable.
Busin Insurance Company was registered in February 1993. It specializes in risk insurance. It is a member of a number of professional and industry associations, including the League of Insurance Organizations of Ukraine, the Insurance Payments Club, the International Association of Aviation Insurers (UA), the Nuclear Insurance Pool, the American Chamber of Commerce in Ukraine, and the British Business Club.
Insurance company BBS Insurance (formerly Brokbusiness, Kyiv) collected UAH 660.03 million in gross premiums in January-September 2025, which is 64.70% more than in the same period of 2024.
This was reported by RA Expert-Rating in its confirmation of the insurance company’s financial stability rating at “uaAA” on the national scale.
According to the RA, the share of insurance premiums belonging to reinsurers increased by 44.6%, while their share in the company’s gross premium structure decreased by 0.23 p.p. to 1.63%.
In the first nine months of 2025, the company made 77.75% more insurance payments and reimbursements than in the first nine months of 2024, and the level of payments increased by 2.62 p.p. to 35.67%.
During the reporting period, the equity capital of IC “BBS Insurance” increased by 21.21% to UAH 196.84 million, while its gross liabilities increased by 61.05% to UAH 388.29 million. As a result of the higher growth rate of liabilities, the level of coverage of the insurer’s liabilities by equity capital decreased in the reporting period: by 16.67 p.p. to 50.69%.
Cash and cash equivalents increased by 58.62% to UAH 382.28 million, while the ratio of cash to liabilities decreased by 1.51 p.p. to 98.45%. Thus, as of the beginning of the fourth quarter of 2025, highly liquid assets covered 98.45% of the company’s liabilities.
RA also notes that the company’s activities were profitable during the period under review. Compared to the same period in 2024, operating profit increased by 38.51% to UAH 49.05 million, and net profit increased by 27.13% to UAH 47.63 million.
BBS Insurance has been operating in the Ukrainian insurance market for over 30 years and is represented in all regions of the country. It has a license to conduct insurance activities in 18 classes.
Insurance company Quorum (Kyiv) collected net insurance premiums in the amount of UAH 47.195 million in January-September 2025, which is 36.4% more than in the same period of 2024, and gross premiums in the amount of UAH 50.216 million (+1.17%) .
This was reported by the rating agency (RA) Standard-Rating in its information on the update of the company’s credit rating/financial stability rating on the national scale at the level of “uaAA”.
The agency specified that it had updated the rating based on an analysis of the company’s performance for the reporting period.
Revenues from individuals in the insurance company increased by 10.82% to UAH 27.072 million, while there were no revenues from reinsurers. The share of individuals in gross premiums for the first nine months of 2025 was 53.91%.
Insurance premiums sent to reinsurers in January-September 2025 amounted to UAH 3.021 million, which is 79.91% less than in the same period of 2024. Thus, the reinsurers’ share in insurance premiums decreased by 24.27 percentage points to 6.02%.
The volume of insurance payments and reimbursements made by the company in the first nine months of 2025 increased by 44.26% compared to the same period in 2024, to UAH 7.894 million. Thus, the level of payments increased by 4.70 p.p. to 15.72%.
The activities of TOV “SK ”Quorum” in the period under review were profitable, and operating and net profits showed growth – by 5.89% to UAH 8.8 million and by 9.64% to UAH 8.3 million, respectively.
As of September 30, 2025, the company’s assets grew by 13.93% to UAH 79.632 million, equity increased by 13.54% to UAH 69.736 million, liabilities grew by 16.77% to UAH 9.896 million, and cash and cash equivalents increased by 12.52% to UAH 56.095 million.
Thus, as of the beginning of the fourth quarter of 2025, the company had very high levels of capitalization (704.69%) and the ratio between cash and liabilities (566.85%), the RA notes.
Insurance company Quorum was established in March 2014 and specializes in risk insurance.
In January-September 2025, Respect Insurance Company (Odessa) collected UAH 67.672 million in net premiums, which is 68% more than in the same period of 2024.
According to the company’s interim report posted on the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross premiums for this period amounted to UAH 68.123 million (+64.4%). UAH 451 thousand was transferred to reinsurance (2.5 times less).
During the period, the company paid out UAH 11.967 million, which is 4.3 times more than during the same period a year ago. At the same time, administrative expenses amounted to UAH 313,000, which is 2.2 times higher than in January-September 2024.
The financial result from the operating activities of IC Respect for nine months amounted to UAH 5.538 million (3.8 times less), net profit – UAH 8.601 million (2.7 times less).
According to the NSSMC, as of the first quarter of 2025, LLC “AMC” YUG-Invest“ (Closed-end non-diversified venture investment fund ”Industrial”) owned 67.935% of the insurer’s shares, LLC “Ulyublenoe Misto” – 9.646%, LLC “Bereg Stroy Service 2017” – 9.242%.
Insurance company “Respect” has been operating in the Ukrainian market since March 1995. The company’s main risk portfolio is related to the transport sector.
Shareholders of the insurance company “Suzirya” (Kyiv) Oleksiy Tugay, who owned 20.009% of the insurer, reduced his stake to 0%, according to information posted by the company in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
At the same time, it is noted that Natalia Oksenko, who owned 4.947% of the insurer, increased her stake to 8.495%, and Anna Pysmenna, who previously did not own any shares, now owns 8.849%.
The insurance company provides almost all types of insurance specified by the current legislation of Ukraine.
According to the NSSMC, in the first quarter of 2025, the company’s shareholders were Rostislav Pokrovsky (73.037%) and Oleksiy Tugay (20.009%).
