Insurance company Knyazha Vienne Insurance Group (Knyazha VIG”, Kyiv) in January-June 2025 collected UAH 1.808 billion of insurance payments, which is 58.61% more than in the same period a year earlier, net premiums amounted to UAH 1.161 billion (+17.21%). This information has been published by Standard-Rating, having confirmed the financial strength/credit rating of the insurer at the level of “uaAA+” following the results of the specified period.
According to the RA website, for the specified period receipts from individuals have grown by 61,71% – up to UAH 1,310 billion, and from reinsurers – by 77,13%, up to UAH 3,943 mln.
According to the results of the first half of 2025, the share of individuals in the gross premiums of the company amounted to 72,43%, and the share of reinsurers – 0,22%.
Insurance payments sent to reinsurers, for the first half of 2025 compared to the same period of 2024 have increased more than in 4,3 times – up to UAH 646,786 mln. Thus, the ratio of reinsurance companies’ participation in insurance premiums has increased by 22,69 p.p. up to 35,78%. – up to 35,78%.
The volumes of insurance payments and indemnities made by the company in the first half of 2025, compared to the same period of 2024, have increased by 39,11% – up to UAH 615,675 mln, the level of payments has decreased by 4,78 p.p. – to 34.05%.
Operating profit for 6M. 2025 increased 14.27 times to UAH 109.577 mln, and net profit increased 6.4 times to UAH 144.258 mln.
Assets of the company as of July 1, 2025 increased by 28.27% – to UAH 2.796 billion, shareholders’ equity – by 33.83% – to UAH 602.017 million, liabilities – by 26.82% – to UAH 2.194 billion, cash and cash equivalents – by 5.81% – to UAH 86.279 million.
RA notes that as of the beginning of Q3 2025 the company had a satisfactory level of capitalization (27,44%), and cash covered 3,93% of its liabilities. At the same time, on the reporting date the insurer has made current financial investments in the amount of UAH 1,404 billion, which consisted of government bonds (77,89% of the investment portfolio), as well as of deposits in banks with a high level of credit rating (22,11% of the portfolio). Liquid assets have covered 67,95% of insurer liabilities.
Private JSC IC Knyazha Viena Insurance Group is a part of NFG Vienna Insurance Group Ukraine, the main shareholder of which is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria).
In January-March 2025, Universalna Insurance Company (Kyiv) made insurance payments in the amount of UAH 273.8 million, which is 28% more than in the same period a year earlier, according to the insurer’s website.
It is noted that payments on voluntary health insurance increased by 18% to UAH 121.7 million, hull insurance – by 50% to UAH 101.4 million, MTPL amounted to UAH 18.4 million, accident insurance – UAH 12.2 million, property – UAH 11 million.
Payouts on other insurance products amounted to UAH 9.1 million.
Universalna Insurance Company was founded in 1991. It specializes in providing risk insurance services. According to the National Bank of Ukraine, it is among the top ten risk insurance companies in terms of insurance premiums collected in the first nine months of 2024.
The main shareholder of the company is Fairfax Financial Holdings Limited (Canada).
PJSC Insurance Company InterExpress (Kyiv) in 2024 collected insurance payments in the amount of UAH 92.334 mln, which is 57.52% more than in 2023.
This has been announced by Standard-Rating agency on updating the company’s credit rating/rating of financial stability (reliability) of the insurer on the national scale at the level of “uaAA”.
Receipts from individuals have grown by 45,35% – to UAH 33,754 mln during this period, and receipts from reinsurers in the analyzed period have amounted to only UAH 197 th. Despite the growth of premiums from individuals, legal entities prevail in the client portfolio of the insurer, the share of which in gross premiums following the results of 2024 has amounted to 63,23%.
RA also informs that insurance payments sent to reinsurers have grown by 26,09% – up to UAH 5,862 mln in 2024 compared to 2023, the ratio of reinsurers’ participation in insurance premiums has decreased by 1,58 p.p. – to 6,35%.
Net premiums increased by 60,23% to UAH 86,472 mln, while net earned premiums increased by 56,45% to UAH 83,090 mln.
Payouts for 2024 compared to 2023 more than doubled to UAH 35.698 million and the payout rate increased by 9.55 pp. – up to 38,66%.
Assets of the company as of January 1, 2025 have grown by 45,24% – to UAH 101,851 mln, shareholders’ equity – by 17,52% – to UAH 65,365 mln, liabilities – by 151,52% – to UAH 36,486 mln, cash and cash equivalents – more than 6 times – to UAH 63,662 mln.
IC InterExpress, registered in 2004, specializes in risk types of insurance.
In January 2025, TAS Insurance Group (Kyiv) paid UAH 202.6 million under the concluded insurance contracts, which is 26.5% more than the amount of the company’s indemnities for the same month in 2024.
According to the insurer’s website, 27.63% of the total volume of payments was for hull insurance (UAH 56 million), which is 37% more than in January of the previous year, 31% or UAH 62.7 million (+7.8%) for MTPL, and 24.9% for Green Card.
The share of VHI in the company’s claims portfolio in December amounted to 15.9%, or UAH 32.13 million (+28.3%).
The company paid out UAH 14.82 million under other insurance contracts.
TAS BUSINESS was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.
Insurers of Ukraine from December 13 will be able to make insurance payments under reinsurance contracts entered into with non-residents, the website of the National Bank of Ukraine informs.
In particular, this applies to payments on the basis of: contracts concluded before February 24, 2022 for documents issued before May 31, 2022, contracts concluded from February 24 to May 31, 2022, if their terms provide coverage for military risks.
At the same time there are clear requirements for the implementation of the relevant operations. Firstly, the non-resident reinsurer concluded a contract of reinsurance should have the financial strength rating, which is not lower than “A3” (Moody’s Investors Service), “A-” (Standard & Poor’s ), “A-” (Fitch Ratings), “A-” (A.M. Best) by the classification of international rating agencies.
Secondly, a Ukrainian insurance company, which carries out reinsurance, should meet a number of requirements, among which: no decision of the NBU on the recognition of the ownership structure of the insurer is not transparent; no decision of the NBU on recognizing the business reputation of the insurer, its owners, managers or key persons as insolvent; compliance with the solvency and capital adequacy ratio and the risk ratio of operations by the insurer.
The NBU notes that in order to obtain confirmation of compliance requirements for further transfer to the servicing bank, the insurer must apply to the NBU.
“Providing the ability to pay foreign currency payments under contracts with non-resident reinsurers will ensure that insurers comply with obligations to clients and international partners arising as of May 31, 2022. This is important to maintain the continuity of the insurance market of the country,” – noted in the message.
The NBU has also settled the issue of payment to non-residents of insurance payments under contracts of reinsurance of aviation risks in respect of aircraft, including those in the lease or leasing, clarified the rules for the implementation of transfers to non-resident reinsurers under international contracts of insurance “Green Card”.
The respective amendments were introduced by NBU regulation No.242 dated December 9, 2022 “On Amendments to the resolution of the Board of the National Bank of Ukraine No.18 dated February 24, 2022”, which shall become effective on December 13, 2022.
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.
