Oranta national joint-stock insurance company (Kyiv) in January-September 2019 collected gross insurance premiums for the amount of UAH 679.3 million, which is 17.9% more than a year ago.
The company said that in particular, premiums for voluntary car insurance over the period grew by 25.2%, to UAH 32 million, premiums on compulsory insurance of vehicle owners’ civil liability (OSAGO) – by 9.2%, to UAH 383.4 million, Green Card – by 45.2%, to UAH 121.3 million, property insurance – by 5.4%, to UAH 64.9 million, liability insurance – by 50.7%, to UAH 35 million and voluntary medical insurance – by 49.5%, to UAH 27.373 million.
According to the company, in January-September 2019, 1.553 million insurance contracts were concluded, which is 7.9% more than the same period a year earlier. In particular, the number of concluded voluntary medical insurance contracts increased 78%, mandatory car insurance – by 60.4%, Green Card – by 54.4%, cargo insurance – twice, and liability insurance – 62.8%.
Over the period, Oranta paid out UAH 238.8 million in claims to customers, which is 29.1% more than in the same period last year. The largest payments were made under OSAGO – UAH 168.4 million (a rise of 31.8%), Green Card – UAH 35.6 million (a rise of 11.2%), voluntary car insurance – UAH 16.2 million (a rise of 19.9%), property insurance – UAH 10.5 million (a rise of 60.6%), voluntary medical insurance – UAH 5.515 million (a rise of 92.9%).
The company also said that the level of payments for the reporting period amounted to 35.1%, while for this period a year earlier it was 32.1%.
Oranta is the legal successor of Ukrgosstrakh, founded on November 25, 1921. In 1993, Ukrgosstrakh was reorganized into OJSC Oranta.
FFHL Group Ltd., a subsidiary of Fairfax Financial Holdings Limited (Canada), a financial services holding company headquartered in Toronto (Canada), on November 6, 2019 acquired a controlling stake in Universalna insurance company (Kyiv), according to the insurer’s website. The company also reports that as a result of the transaction, no changes are planned in the operating activities of Universalna insurance Company, and all insurance contracts remain valid in accordance with the conditions under which they were concluded.
In addition, under this agreement, no additional actions are required from the clients or partners of Universalna, and the company continues its operations.
As reported, at the beginning of October 2019 FFH Ukraine Holdings LLC (Kyiv) announced its intention to acquire 136.021 million shares, or 70.58% of the charter capital of Universalna insurance company. It was planned to purchase shares at a nominal value of UAH 1 per share.
Universalna insurer was founded in 1991. It specializes in providing services in the field of risk insurance. It offers services on 42 types of insurance, the regional network has more than 300 sales points throughout Ukraine.
Arunas Siksta, a citizen of Lithuania, has become the ultimate beneficiary owner of double liability company Guardian insurance company, the insurer has said in a press release. On September 24, 2019, the National Commission for Financial Service Markets Regulation of Ukraine in decree No. 1855 approved the acquisition of a substantial holding in Guardian insurer via indirect holding of 70% of shares of the charter capital of the financial institution.
Guardian has been working in the insurance market since 2007. It is a universal company that has 35 licenses issued by the National Commission for Financial Service Markets Regulation. The company has an extensive regional network and covers 21 regions of Ukraine.
Guardian is an associate member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), a member of the Ukrainian Association of Automobile Importers and Dealers (VAAID), a member of the League of Insurance Organizations of Ukraine (LIOU).
The National Commission for Regulation of the Financial Services Market under the decision No.1602 has cancelled seven licenses for voluntary insurance that have been issued to Farlong LLC insurance company (Kyiv). As the regulator reported on its website, the decision comes into force in 30 days, on September 27, 2019.
The licenses were cancelled for company’s failure to fulfill order of the financial market watchdog as of July 23, 2019 on removal of violated license conditions.
Farlong was put into the State Register of Financial Organizations of Ukraine in March 2016.
According to the State Register of Legal Entities and Individual Entrepreneurs, Adamant Trading LLC is the main shareholder of insurer with 99.99% of its charter capital.
The charter capital of the company is UAH 35 million.
CANCELS LICENSES, FARLONG, FINANCIAL MARKET, INSURER, WATCHDOG
Krayina Insurance Company (Kyiv) in January-June 2019 received UAH 205.1 million of gross insurance premiums, which is 39.46% more compared to the same period in 2018, the Expert-Rating agency has said updating the rating of the company at the level of “uaAA+” according to the national scale for the specified period.
Part of insurance premiums owned by reinsurers grew by 2.4 times and amounted to 3.71%.
Insurance payments for the first six months of 2019 increased by 19.74%. The ratio between payments and gross premiums amounted to 48.26%, which is quite a high level of payments for companies specializing in conventional types of insurance, the agency notes.
The company’s assets as of June 30, 2019 remained practically unchanged and amounted to UAH 234.930 million, gross liabilities increased by 5.5%, to UAH 127.370 million, net worth decreased by 5.56%, to UAH 107.560 million. As a result, the company’s capitalization decreased by 9.89 percentage points, to 84.44%.
Krayina insurer has been operating in the insurance market of Ukraine since 1994. It has licenses for 23 types of insurance.
A subsidiary enterprise Ecomix has said it is going to acquire 9.289 million of the ordinary nominal shares of PrJSC Mega-Polis insurance company (both Kyiv-based) that totals 74.3161% of a charter capital of the insurer.
According to the Ukrainian National Securities and Stock Market Commission’s information disclosure system, a total principal value of the package is UAH 9.289 million.
Ecomix was registered in May 2000 with a charter capital worth UAH 5,394, According to the Unified State Register of Legal Entities and Individuals, the company deals with wholesales of wooden and building materials. PrJSC Panacea Trade Limited and three Cypriots are the shareholders of the company.
Mega-Polis was founded in 2000. It specializes in risk insurance.
PJSC Diamantbank (Kyiv) has become the owner of 74.3161% of the shares of Mega-Polis insurance company (Kyiv), the National Depository of Ukraine said this on January 30, 2019.
At the same time, the report states that the insurance company does not own information, as a result of what actions (acquisition or alienation) and how (directly or indirectly) the change of ownership of securities occurred. It is emphasized that the previously the specified bank did not own shares of the insurance company.
According to the National Commission on Securities and the Stock Market, as of the fourth quarter of 2018, the owner of 74.3161% of Mega-Polis was Energotechprom LLC, and another 24.96% was owned by Serhiy Perelom.
