Swiss insurance company Chubb Ltd. with the bulk of its operations in the United States plans to increase its quarterly dividend by 5.8% to $0.91 per share.
According to the company’s press release, the board of directors recommended that shareholders at the annual meeting approve this amount of dividends for the current year.
Payments for the fourth quarter of $0.86 per share will be made on April 5. The share register is scheduled to close on March 15.
The dividend yield on Chubb’s securities after the increase in payments will be about 1.4% based on the quotes at the close of trading on Wednesday ($251.96).
The price of the insurer’s securities during the previous session on Thursday fell by 0.7%. Over the past three months, the company’s capitalization has increased by 11.2% (to $102.2 billion), while the S&P 500 stock index has added 9.3% over the same period.
Insurance company KD Life (KD Life, Kyiv) has increased its authorized capital by 48% to UAH 53.302 million, according to the insurer’s website.
It is noted that the additional issue of shares was registered by the decision of the National Securities and Stock Market Commission on January 19, 2024.
“The company continues to implement new standards and procedures in accordance with the requirements of the new legislation, actively adapts its internal processes and policies, directing all efforts to comply with the new regulations,” the statement said.
KD Life is a Ukrainian company founded in 2007 by KD Group holding.
KD Group Holding is a leader in the financial market of Eastern Europe, with almost 130 years of successful experience in life and risk insurance, financial management and investment funds.
Currently, the company’s services are offered by more than 3 thousand consultants throughout Ukraine.
The shareholders’ meeting of Avangard Insurance Company (Kyiv) has decided to increase the authorized capital by 4 times, up to UAH 48 million, by holding a share issue worth UAH 36 million, according to the insurer’s official information posted in the information database of the National Securities and Stock Market Commission (NSSMC).
It is noted that during the private issue it is planned to place 36 thousand shares with a par value of UAH 1 thousand.
Avangard Insurance Company was registered in November 2004. It specializes in risk insurance.
The company’s shareholders are LLC “AVT-Boutique” (Kyiv) with 47.51% and six individuals with stakes ranging from 9.5% to 9.8%.
The authorized capital is UAH 12 million.
In 2023, ARX Insurance Company (ARX Kyiv) made insurance payments in the amount of UAH 1.384 billion, which is 33.07% more than a year earlier.
According to the company’s Facebook page, in December 2023, the company paid UAH 131.025 million to its clients, including UAH 67.632 million in voluntary motor hull insurance, UAH 14.456 million in compulsory motor third-party liability insurance, UAH 36.196 million in voluntary health insurance, and UAH 2.963 million in Green Card insurance.
As reported, ARX Insurance Company has been operating in the insurance market for 26 years. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).
The shareholders of Mir Insurance Company (Kyiv) will consider renaming the company to Pobeda Insurance Company at a meeting on October 23, according to the agenda of the meeting published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to the agenda, the shareholders also plan to consider adding such activities as reinsurance and insurance agents and brokers to the CEAs of the company, which are listed in the Unified State Register of Legal Entities and Individual Entrepreneurs. The company also plans to change its location.
As reported, IC Mir was registered in 1992 and specializes in risk insurance.
According to the data published on the company’s website, the owner of 79.9% of the company’s shares is ABC Finance LLC, and 13.299% is owned by Vladimir Babko.
Farmers with more than 1,500 hectares of winter crops can insure their crops against war risks with a limit of indemnity from UAH 500 thousand to UAH 2 million in INGO Insurance Company until December 15, the company said in a statement.
“In the world practice, war risks are always included in the list of standard exclusions, and losses are not compensated,” the press release quotes INGO’s Director of Corporate Insurance Serhiy Krivosheev as saying. – “However, now in Ukraine we are ready to revise the rules to create more opportunities for farmers. We understand that not only the economic condition of the agricultural sector, but also many others depend on their success.”
Thus, INGO Insurance Company has expanded its standard winter crops insurance program, which provides protection against negative weather factors (extremely low temperature, ice crust, damping, drought, etc.), to include coverage of crop damage risks resulting from events that were a direct or indirect consequence of military operations.
The company assumes that this will “help agricultural enterprises maintain financial stability.”
It is noted that only winter crops of more than 1500 hectares, which are grown industrially and are located in the unoccupied territory or no closer than 50 km from the combat zone or the state border with Belarus and Russia, can be insured against military risks.
In the event of an insured event, INGO will compensate for the costs of sowing and growing crops damaged or destroyed as a result of military operations, including maneuvers, movement of equipment, construction of defensive structures, and demining costs.
“The company assumes reimbursement of such costs depending on the volume of insured crops with a limit of UAH 500 to 2 million,” the statement said.
According to it, the settlement of insured events for further compensation is carried out according to the standard procedure within 15 days from the date of submission of the necessary documents. A document confirming the fact of occurrence of such an event under military risks should be obtained from the military-civilian administration, the State Emergency Service or the National Police.
INGO Insurance Company has 30 years of experience in the market. Since 2017, the company’s main shareholder has been the Ukrainian business group DCH of Alexander Yaroslavsky.
The company holds 29 licenses for various types of compulsory and voluntary insurance, provides insurance services to corporate and retail clients, and is a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
According to the National Bank, as of the middle of this year, INGO Insurance Company was the eighth largest in the market in terms of assets (UAH 3.28 billion). Its net earned insurance premiums for the first half of the year amounted to UAH 971.4 million, insurance payments and reimbursements – UAH 545.6 million, net profit – UAH 152.0 million.
