Insurance company Quorum (Kyiv) in 2023 collected insurance premiums in the amount of UAH 49.5 mln, which is 35.2% more than in the same period a year earlier, said the rating agency (RA) Standard-Rating in the information on updating the credit rating / financial strength rating of the company on the national scale at the level of “uaAA”.
It is specified that the rating was updated on the basis of the analysis of the company’s results for the mentioned reporting period.
Receipts from individuals in IC for this period have grown by 36,36%, up to UAH 30,394 mln, and from reinsurers were absent. The share of individuals in gross premiums at the end of 2023 amounted to 61,42%.
Insurance payments sent to reinsurers amounted to UAH 16,067 million, which is 66,70% higher than in the same period of 2022. Thus, the ratio of reinsurers’ participation in insurance premiums has increased by 6,14 p.p., up to 32,47%.
Net premiums of the insurer have increased by 23,92%, to UAH 33,421 mln, and earned premiums – by 20,90%, to UAH 33,296 mln.
The volume of insurance payments and indemnities made by IC “Quorum”, in 2023 compared to the year before has decreased by 31,91%, to UAH 6,468 mln, and the level of indemnities has decreased by 12,88 p.p., to 13,07%.
The company’s activity in the analyzed period was profitable. Thus, the profit from operating activities increased 8.4 times, to UAH 11.348 mln compared to 2022, and net profit – almost 12 times, to UAH 10.153 mln.
Assets of the company as of January 1, 2024 have grown by 28,92% to UAH 63,969 mln, shareholders’ equity has increased by 30,37% to UAH 56,032 mln, liabilities have shown growth by 19,50% to UAH 7,937 mln, cash and cash equivalents have grown by 47,99% to UAH 44,408 mln.
IC Quorum was established in March 2014, specializing in risk insurance.
In February 2024, TAS Insurance Group has attracted UAH 312.2 mln of insurance premiums, which is 47% higher than the amount of payments collected for the same period a year earlier.
According to the company’s website, premiums on CASCO amounted to 21.61% of the total volume, or UAH 67.47 mln, which is 26.8% higher than the corresponding figure for February 2023, on MTPL – 31.9%, or UAH 99.57 mln (+37.1%), on “Green Card” – 26.95%, or UAH 84.04 mln (+76.4%), on voluntary medical insurance – 10.2%, or UAH 31.7 mln (+97.6%).
At the same time, UAH 6,24 mln of payments have been collected under property insurance contracts, under other insurance contracts SG “TAS” has attracted UAH 23,14 mln during the reporting period.
IG “TAS” was registered in 1998. It is a universal company, offers more than 80 types of insurance products on various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.
TAS IG (Kyiv) in January-February 2023 collected UAH 486,39 mln of insurance premiums, which is 6,6% more than in the corresponding period of 2022, according to the web-site of the company.
It is specified that UAH 99,88 mln of payments have been collected on CASCO contracts, or 20,54% of the total amount of premiums and this is by 33,9% more than during the same period of 2022.
Sales of MTPL insurance increased by 17.3% up to UAH 145.54 million or 29.92% of the total receipts of the insurer for two months. Sales of “Green Card” increased by 68.3% to UAH 101.83 million (20.93%).
VMI accounted for 18.3% of Company’s receipts in January-February: UAH 89,01 mln. was collected on voluntary health insurance contracts.
The company attracted UAH 11,8 mln of payments on property insurance contracts for two months. The receipts of the insurer under other insurance contracts amounted to UAH 38,33 mln.
European Travel Insurance (Kyiv) in 2020 collected insurance premiums in the amount of UAH 182.440 million, which is 43% less than in 2019.
According to a press release from the insurer, if in 2019 the company insured 1.805 million tourists for the first time, then in 2020 some 825,328 people used its services. The net profit of the insurer after taxation according to the IFRS system in 2020 amounted to UAH 24.497 million.
According to the press release, 2020 has changed the attitude towards travel insurance and its individual types. Thus, there was an increased demand from both tour operators and individual tourists for insurance of financial risks in case of travel cancellation or interruption. If in 2019 such risks were insured by 22% of tourists, then in 2020 some 38% of the total number of insured.
In 2020, the company registered 8,924 insurance events with tourists, the total amount of insurance payments was UAH 68 million. In 2020, the ratio of events with tourists registered by the company also changed towards an increase in the share of requests due to the occurrence of an insured event due to cancellation/interruption of travel.
The total amount of payments in connection with cancellation/interruption of travel in 2020 stood at UAH 19.543 million, in 2019 – some UAH 15.673 million. In total, over the past year, 840 payments were made in connection with the cancellation or interruption of a trip, 498 such payments were in 2019.
The company also notes that the tourism industry is reporting a more than 70% reduction in tourism in 2020. Almost the same drop in international passenger air transportation (approximately 72% of the volume of 2019) is noted by the Ukrainian aviation business.
Arsenal Insurance (Kyiv) in January-September 2018 collected insurance premiums in the amount of UAH 1.185 billion, which is 2.2% more than in the same period of 2017, according to a press release from the insurer.
According to its data, about 40% of all receipts were payments from individual users of insurance services, mainly from the owners of KASKO, OSAGO, travel insurance and property protection policies.
At the same time, the company notes a significant increase in its presence in the corporate insurance sector. In particular, the volume of insurance of property owned by corporate clients has increased, as well as the provision of health insurance services for personnel: premiums in these areas increased by 48% and 28% respectively.
During this period, insurance claim fee payments to customers amounted to UAH 309.8 million (32.8% more). Of these, KASKO payments reached more than UAH 192 million on 8,350 insured events.
Arsenal Insurance is the successor of Arsenal-Dnipro, operating in Ukraine since 2005. It owns more than 25 licenses. It is represented in all regional centers and some major cities of the country.
AXA Insurance (Kyiv) in January-June 2018 collected more than UAH 915.6 million in gross insurance premiums, which is 14%, or UAH 115 million, more than for the same period in 2017, according to a press release of the insurer. “For the first half of 2018, according to regulatory reporting, profit amounted to UAH 47.6 million. According to the standards of the AXA international group, our financial result amounted to UAH 105 million,” financial director of the company Mykola Ivaniniv said.
The company also reports that for the first six months of 2018 the volume of premiums on KASKO totaled UAH 523 million (10% more). Insurance premiums of individuals on KASKO in the total volume of premiums collected on this type of insurance are 66% (UAH 346 million). Income from voluntary medical insurance grew by 32%, premiums amounted to UAH 138 million.
Premiums for travel insurance also rose by 26% compared to last year, the total number of contracts was 60,000, the volume of insurance premiums stood at UAH 18.6 million with a growth of 60%.
AXA Insurance belongs to AXA Group (France). It has been represented in the Ukrainian insurance market since 2007. It employs more than 780 employees and has 1,220 agents throughout Ukraine.
