In January-September 2024, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.645 billion in insurance premiums, which is UAH 331 million, or 25.2%, more than in 2023.
According to the insurer’s information, the largest increase in payments for the period under review occurred in the VHI (+41%), MTPL (+39%), Green Card (+19%) and hull insurance (+18%) segments.
In the first nine months of the year, UAH 307 million of premiums were collected under motor hull insurance contracts, which is 19% of the insurer’s total payments, UAH 411 million (25%) under the Green Card, and UAH 462 million (28%) under MTPL.
In turn, the share of VHI in the company’s portfolio amounted to 15%, with UAH 165 million of premiums collected under VHI policies.
In the first half of 2024, the volume of revenues of IC “PZU Ukraine” under other insurance contracts amounted to UAH 220 million.
IC “PZU Ukraine” is a part of one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).
In October 2024, TAS Insurance Group (Kyiv) paid UAH 191.1 million under the concluded insurance contracts, which is 56.1% more than the amount of the company’s indemnities for the same month in 2023.
According to the insurer’s website, more than a quarter of the total volume of payments, or 28.8%, accounted for hull insurance – UAH 54.8 million, which is 41% higher than the corresponding figure for October 2023, for MTPL – 28.9%, or UAH 55.3 million (+ 16.7%), for Green Card – 23.4%, or UAH 44.8 million (3.5 times more).
The share of VHI in the company’s claims portfolio amounted to 15.3%, or UAH 28.9 million (+44.1%) in October.
Under other insurance contracts, the company paid UAH 7.38 million (+2.6 times).
TAS Insurance Group 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.
In January-September 2024, “ARX Life” Insurance Company (ARX Life, Kyiv) collected insurance premiums in the amount of UAH 251.2 million, which is 7.03% more than in the same period a year earlier.
This was reported by RA “Standard-Rating” on its website in the information on the company’s credit rating/insurer financial strength (reliability) rating update at the level of “uaAAA” on the national scale.
The volume of payments and reimbursements made by the insurer in the first half of the year decreased by 10.21% to UAH 44.382 million. Thus, the insurer’s claims ratio decreased by 3.39 percentage points to 17.67%.
The insurer’s acquisition expenses for the first three quarters of 2024 decreased by 4.99% to UAH 134.587 million compared to the same period in 2023.
Net profit amounted to UAH 60.908 million, which is 31.01% more than the net profit for 9 months of 2023.
As of October 1, 2024, the insurer’s assets increased by 24.55% to UAH 355.136 million, equity – by 28.76% to UAH 272.681 million, liabilities – by 12.41% to UAH 82.455 million, cash and cash equivalents – by 66.66% to UAH 65.756 million.
Thus, as of the beginning of the fourth quarter of 2024, the company had a high level of capitalization (330.7%), as well as the level of coverage of its liabilities by cash and cash equivalents (79.75%).
At the same time, RA notes that as of October 1, 2024, the insurer made financial investments in the amount of UAH 279.6 million. They consisted of government bonds and government bonds (89.43%) and deposits in banks (10.57%).
ARX Life is part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top ten companies in the life insurance market in Ukraine.
Insurance company “Quorum” (Kyiv) in January-June 2024 collected insurance premiums in the amount of UAH 30 million, which is 29.97% more than in the same period of 2023, the rating agency (RA) “Standard-Rating” reported in information on updating the credit rating / financial strength rating of the company on the national scale at the level of “uaAA”.
At the same time, it was clarified that the rating was updated based on the analysis of the company’s performance for the specified reporting period.
During this period, revenues from individuals increased by 26.38% to UAH 18.320 million, while there were no revenues from reinsurers. The share of individuals in gross premiums amounted to 61%.
Insurance payments sent to reinsurers in the first half of 2024 amounted to UAH 9,710 million, which is 29.24% higher than in the first half of 2023. The ratio of reinsurers’ participation in insurance premiums decreased by 0.19 pp to 32.33%.
The insurer’s net written premiums increased by 30.33% to UAH 20.322 million, and net earned premiums increased by 30.72% to UAH 20.165 million.
The volume of insurance payments and reimbursements made by the company in the first half of 2024 compared to the same period in 2023 increased by 24.38% to UAH 3,449 million, while the level of payments decreased by 0.52 percentage points to 11.48%.
RA notes that the company’s activities in the analyzed period were profitable. In particular, the profit from operating activities amounted to UAH 6.946 million, and net profit – UAH 6.644 million.
As of July 1, 2024, the company’s assets increased by 0.25% to UAH 64.127 million, equity – by 6.68% to UAH 59.776 million, liabilities showed a decrease of 45.18% to UAH 4.351 million, cash and cash equivalents increased by 2.95% to UAH 45.718 million.
Quorum Insurance Company was established in March 2014 and specializes in risk insurance.
In January-September of this year, businessman Alexander Yaroslavsky’s DCH Group increased its payments to the budgets of all levels by 14.5%, or UAH 210 million, compared to the same period last year, to more than UAH 1.65 billion.
According to the PR department of DCH, the total amount of taxes paid by the group’s companies since the beginning of Russia’s full-scale invasion has reached almost UAH 5.5 billion.
It is specified that the main increase in tax payments compared to 9 months of 2023 was provided by JSC Bank Credit Dnipro – by UAH 95 million, Kharkiv Tractor Plant (HTZ) – by UAH 32 million, and ORANTA Insurance Company – by UAH 70 million.
It is also reported that in particular, in January-September 2024, DMZ reduced the production of rolled metal products by 56.9% compared to the same period last year, while the production of metallurgical coke decreased by 0.4%.
In the first 9 months of 2024, Sukha Balka Mine commissioned 8 new blocks with total reserves of 906 thousand tons of ore.
Since the beginning of Russia’s full-scale invasion of Ukraine, KHARTSYZSK PIPE has been in the war zone and the plant’s territory has been under constant shelling. Nevertheless, KHARTSYZSK PIPE continues to maintain production, electricity, gas and water supply to the plant and the city area, and continues to produce machinery for agriculture and the country’s critical infrastructure.
In June of this year, Bank Credit Dnipro, together with the Independent Association of Banks of Ukraine and 18 major commercial banks, signed a memorandum of bank lending for energy infrastructure rehabilitation projects, which is dictated by the country’s strategic need to ensure energy independence.
A significant challenge for manufacturing companies is the outflow of personnel, in particular due to the mobilization of personnel. Since the beginning of the war, 465 employees of Sukhoi Balka and 268 employees of DMZ have joined the Armed Forces of Ukraine. The companies’ operations are also affected by periodic power outages, when they have to reduce or stop production completely.
Today, DCH Group employs over 7.6 thousand people. 912 employees of the group serve in the Ukrainian Armed Forces, 55 of those who joined the ranks of the Armed Forces were killed.
DCH Investment Management is a financial and industrial group of companies that manages investments in ore mining and metallurgy, machine building, real estate, insurance, banking and hospitality.
In September 2024, TAS Insurance Group (Kyiv) collected UAH 418 million in insurance premiums, which is 31% more than in the same period in 2023.
According to the insurer’s website, motor hull insurance premiums amounted to 18.2% of the total, or UAH 76.13 million, which is 6.4% more than in September 2023; motor third party liability insurance premiums – 32.3%, or UAH 134.9 million (+24.3%), and Green Card premiums – 31.9%, or UAH 133.2 million (+43.8%).
In September, TAS Group collected UAH 35.08 million in premiums under voluntary health insurance contracts, which is 8.4% of the total premiums and 2.6 times higher than in the same period last year.
In turn, UAH 6.17 million of insurance premiums were collected under property insurance contracts. Under other insurance contracts in September 2024, the company collected UAH 32.51 million in premiums, an increase of 29.3%.
The company also reports that as part of its obligations to conclude insurance contracts in September, it paid UAH 174.85 million, which is 47.6% more than in the same period a year earlier.
At the same time, payments under hull insurance increased by 66.3% to UAH 53.72 million, motor third party liability insurance – by 36.8% to UAH 54 million, Green Card – by 40.4% to UAH 38.39 million, VHI – by 49.8% to UAH 23.08 million, property insurance – by 2.45 times to UAH 2.28 million.
Under other insurance contracts, TAS paid UAH 3.42 million, which is 10.5% more than in September last year.
