Universalna Insurance Company (Kyiv) collected UAH 945.9 million in gross insurance premiums in January-September 2022, which is 6.7% more than in the same period last year, according to the website of the rating agency “Standard Rating”.
At the same time, it is indicated that the agency confirmed the credit rating / financial stability (reliability) rating of IC “Universalna” at the level of “uaAAA” on the national scale based on the analysis of work for the specified reporting period.
According to the published data, income from individuals increased by 19.97% to UAH 415.740 million over six months, and from reinsurers, on the contrary, decreased by 51.83% to UAH 0.946 million. Despite the increase in premiums from individuals, according to the results of the first nine months of 2022, legal entities dominate the company’s client portfolio. At the same time, according to the results of activities during the first three quarters of 2022, the largest share of premiums (more than 36%) came from voluntary land transport insurance (CASCO).
Insurance payments sent to reinsurers for the nine months of 2022 compared to the same period in 2021 decreased by 6.67% to UAH 148.722 million. Thus, the coefficient of participation of reinsurers in insurance premiums decreased by 2.25 percentage points. up to 15.72%.
In the analyzed period, the insurer’s net premiums increased by 9.63% to UAH 797.206 million, while earned premiums showed an increase of 13.90% to UAH 817.514 million.
The volume of insurance payments made by IC Universalna for the first three quarters of 2022 decreased by 11.26% to UAH 240.593 million compared to the same period in 2021. Thus, the level of payments decreased by 5.15 p.p. up to 25.43%.
In the first nine months of 2022, the financial result from operating activities amounted to UAH 178.169 million, which is 5.14 times higher than in the nine months of 2021, while the insurer’s net profit increased 5.2 times to UAH 147.472 million.
As of October 1, 2022, the company’s assets increased by 27.83% to UAH 1.693 billion, equity increased by 36.95% to UAH 546.622 million, liabilities increased by 23.90% to UAH 1.146 million, cash and cash equivalents increased by 2.79 times to UAH 263.789 mln.
The RA also notes that as of the reporting date, the company formed a portfolio of bank deposits in the amount of UAH 429.048 million, and the insurer invested UAH 141.485 million in government bonds. As of the beginning of the fourth quarter of 2022, cash and cash equivalents covered 23.01% of the company’s liabilities, liquid assets (cash, bank deposits and government bonds) covered 72.79% of the insurer’s liabilities, and the company’s capital coverage ratio of liabilities was 47 .69%.
IC “Universalnaya” has an international composition of shareholders, in particular, the European Bank for Reconstruction and Development (owns 30% of shares) and Fairfax Financial Holdings Limited (owns 70% of shares). Fairfax Financial Holdings Limited (Canada) is a holding company that, through its subsidiaries, is primarily engaged in casualty insurance, property insurance and investment management. As of the beginning of the third quarter of 2022, the holding’s consolidated assets amounted to $88.460 billion, and Fairfax’s consolidated gross business (premiums) for the first six months of 2022 amounted to $13.971 billion.
Shareholders of the National Insurance Company “Oranta” (Kyiv) re-elected the composition of the Supervisory Board at the meeting on September 20, the company reported in the information disclosure system of the National Securities and Stock Market Commission.
At the same time, Aleksey Bolkhovitinov, Artem Lisitsky, Aleksey Zosimov retained their membership in the Supervisory Board. Nikolai Safyannikov and Mikhail Ponomarenko dropped out of its membership, and Alexander Chorny (director of NS-Finance LLC) and Igor Gordienko (head of the board of IC INGO) were introduced.
As reported, Oranta collected UAH 1.182 billion in premiums in 2021, which is 24% more than in 2020. UAH 58.861 million (+13.8%) was transferred to reinsurance, of which UAH 39.470 million was transferred to residents, which is 37% more than a year earlier, UAH 19.391 million (-16%) to non-residents.
In the same year, the company made payments for UAH 442.930 million, which is 14.4% more than a year earlier. Payments from reinsurers amounted to UAH 21,660 thousand (2.5 times less).
As of December 31, 2021, the insurer’s reserves amounted to UAH 675.380 million (+11.9%), of which the part of reinsurers in insurance reserves amounted to UAH 64.501 million. Equity capital – UAH 322.485 million (+12.4%).
The company ended last year with a net profit of UAH 17.536 million, which is 2.6 times less than in 2020.
The authorized capital of the company has not changed and amounts to UAH 159 million.
JSC “NASK” Oranta “is the legal successor of “Ukrgosstrakh”, founded on November 25, 1921.
The main beneficiary of the LLC with 99.99% voting rights is Alexander Yaroslavsky.
PJSC Alfa Insurance Company (Kyiv) collected UAH 509.015 million in gross premiums in January-June 2022, which is 24.7% less than in the same period of 2021, Expert Rating RA reported in information on confirmation of the company’s financial strength rating at the level of “uaAA +” on the national scale based on the results of work for the first half of the year.
According to the RA press release, the share of insurance premiums owned by reinsurers decreased by 60.5% – to UAH 1.836 million.
During the reporting period, the company made insurance payments in the amount of UAH 194.026 million, which is 0.42% more than in 6 months. 2021
As of June 30, 2022, the company’s equity increased by 21.97%, to UAH 378.43 million, and its gross liabilities – by 15.13%, to UAH 549.74 million. As a result, there was an increase in the indicator of covering the company’s liabilities with equity capital by 3.87 percentage points. – up to 68.84%. The volume of cash and cash equivalents on the accounts of IC Alfa Insurance increased by 16.33% – up to UAH 424.19 million, and the ratio between cash and gross liabilities of the insurer increased by 0.80 percentage points. – up to 77.16%.
The insurer’s assets increased by 17.8% to UAH 928.2 million.
The RA also notes that as of the reporting date, the company formed a portfolio of investments in government bonds (OVGZ and OZGP) in the amount of UAH 238.174 million, which had a positive effect on the provision of liquid assets.
The financial result from the operating activities of the insurer for the first half of 2022 compared to the same period in 2021 increased by 3.64 times – up to UAH 15.93 million, and its net profit increased by 4.18 times – up to UAH 19.38 million.
IC Alfa Insurance was founded in 2000 and is one of the top 10 leaders in the Ukrainian insurance market. Offers a versatile portfolio of services, including comprehensive business protection programs and a wide range of insurance products for individuals.
PZU Ukraine Insurance Company (Kyiv) collected UAH 300.729 million in gross premiums in January-March 2022, which is 12.71% less than in the same period of 2021, Standard-Rating RA reports. , updating the company’s credit/financial stability (reliability) rating on the national scale at the level of “uaААА” based on the results of the specified period.
According to him, income from individuals of the insurer remained almost at the same level (increased by only UAH 12 thousand to UAH 208.440 million), and from reinsurers decreased by 26.55%, to UAH 6.405 million. Thus, the share of individuals in the gross premiums of the insurer increased by 8.81 percentage points to 69.31%, while the share of reinsurers decreased to 2.13%.
Insurance payments sent to reinsurers for the first quarter of 2022 compared to the same period in 2021 decreased by 50.26%, to UAH 71.651 million. Thus, the coefficient of participation of reinsurance companies in insurance premiums decreased by 17.98 percentage points, to 23.83%.
The insurer’s net premiums increased by 14.28% to UAH 229.078 million, while earned insurance premiums increased by 34.89% to UAH 272.931 million.
During the reporting period, the company paid out UAH 183.737 million to its customers, which is 32.95% higher than the volume of insurance payments and indemnities made in the same period a year earlier. Thus, the level of payments increased from 40.12% to 61.1%, or by 20.98 percentage points.
According to the results of January-March of this year, IC “PZU Ukraine” received a net profit of UAH 25.352 million, which is 3.42 times higher than in the first quarter of last year.
As of March 31, 2022, the company’s assets decreased by 6.32%, to UAH 2.670 billion, equity increased by 0.49%, to UAH 829.536 million, liabilities decreased by 9.10%, to UAH 1.841 billion, cash and their equivalents increased by 154.96% to UAH 278.220 million.
Thus, as of the beginning of the second quarter of 2022, the company had a sufficient level of capitalization (45.06%), and 15.11% of its liabilities were covered by cash. At the same time, as of the reporting date, the company made financial investments in the amount of UAH 383.148 million, consisting of government bonds (73.01% of the investment portfolio) and deposits in banks with an investment grade credit rating (26.99% of the portfolio), which had a positive effect on its provision with liquid assets, the agency notes.
According to the report, IC PZU Ukraine has the support of one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company PZU PZU Ukraine – PZU S.A.).
INGO Insurance Company (Kyiv) in January-June 2021 collected more than UAH 966 million in insurance premiums, which is 26% more than in the same period in 2020.
According to the company, in the first half of this year, more than UAH 416.5 million were paid to customers, more than 92,000 insurance events were settled.
The formed insurance reserves of INGO as of June 30, 2021 amounted to more than UAH 1.226 billion, which is 13% more than on the same date a year earlier, the cost of highly liquid assets – UAH 1.929 billion.
The actual solvency margin is UAH 687.1 million, which exceeds the norm by UAH 390.3 million.
The company’s net worth is UAH 32.950 million (more by 5%), the charter capital is UAH 305.543 million.
INGO Insurance Company has more than 25 years of experience in the market. Since 2017, its main shareholder has been DCH business group of Oleksandr Yaroslavsky.
The company has 28 licenses for various types of compulsory and voluntary insurance, and provides insurance services to corporate and retail clients.
INGO is a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), a member of the American Chamber of Commerce, the European Business Association and the International Chamber of Commerce.
CC Continental City Capital LTD (Cyprus) has announced the acquisition of 40% and 19.08% of the shares of Point insurer (Kyiv), according to information base of the National Securities and Stock Market Commission of Ukraine.
It is also noted that the contract for the purchase and sale of securities with Joint Century Ltd. (Belize) according to which CC Continental City Capital LTD becomes the owner of 392 voting shares or 40% of the charter capital of the insurer was concluded on June 14. On the same day, a sale and purchase agreement was signed with citizen of Georgia Armazi Tavadze on the acquisition of 187 voting shares or 19.08% of Point.
As reported, on April 30, 2021, the National Bank of Ukraine allowed Rati Tchelidze to acquire a significant stake in Point insurer by indirectly owning 56.02% of the shares.
As reported, the supervisory board of the insurance company on April 9, 2021 terminated the powers of chairman of the board Levan Bezhashvili and appointed Daria Havrylytsia to this position.
PJSC Point insurer is the legal successor of CJSC Soborny Capital insurer. It has been working in the insurance market since 2003. The company specializes in risk insurance.
