In January-July 2024, Express Insurance (Kyiv) collected insurance premiums in the amount of UAH 504.7 million, which is 32.2% more than in the same period of 2023.
According to the insurer’s website, the number of contracts concluded during this period was 2.2 times higher.
Premiums for hull insurance amounted to UAH 395 million (+18.4% compared to 7 months of 2013), for MTPL – UAH 94.6 million (2.5 times more), for VHI – UAH 7.1 million (+9.7%), for other types of insurance – UAH 8 million (96.3%).
In July 2024, the company attracted UAH 79.1 million in premiums, which is 28.3% more than in July last year. In particular, motor hull insurance premiums amounted to UAH 59.5 million (+16.4%), and motor TPL premiums – UAH 17.5 million (2.1 times).
As reported, in January-July 2024, Express Insurance paid UAH 287.1 million in claims, which is 60.1% higher than in 2023. In particular, payments under motor hull insurance amounted to UAH 242.2 million, or 53.9%, under MTPL – UAH 37.6 million (+143.1%), under voluntary health insurance – UAH 3.4 million (-9.4%), payments under other insurance contracts – UAH 4 million (+40.7%).
In July 2024, the company paid out UAH 43.8 million to customers, which is 47% more than in July 2023. In particular, UAH 36 million (+35%) was paid out under motor hull insurance contracts, and UAH 6 million (+175.2%) under MTPL insurance contracts.
Express Insurance ALC was founded in 2008. It is part of the UkrAuto group of companies. The company specializes in motor insurance. Since April 2012, it has been an associate member of the Motor Transport Insurance Bureau of Ukraine.
In January-July 2024, TAS Insurance Group (Kyiv) paid UAH 1.103 billion under the concluded insurance contracts, which is 57.5% more than the amount of the company’s indemnities for the seven months of the previous year.
More than a quarter of the total volume of payments, or 27.3%, accounted for hull insurance – UAH 300.8 million, which is 39.6% higher than the corresponding figure for 7 months. In 2023, 32.9%, or UAH 364.3 million, was accounted for by MTPL (+34.6%), 22.2%, or UAH 244.6 million, by Green Card (+2.08 times).
The share of VHI in the company’s claims portfolio amounted to 14.29%, or UAH 157.6 million (+2.1 times) over the seven months.
TAS Insurance Company paid out UAH 6.5 million (+38.8%) under property insurance contracts in the reporting period.
Under other insurance contracts, the company paid UAH 30.28 million (+75.2%).
TAS 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.
Private JSC “Insurance company “Nadiyna” (Kyiv) in January-March 2023 collected gross insurance premiums in the amount of UAH 17,8 mln, which is 50,7% less than in the same period a year earlier. This is evidenced by the data in the information of RA “Standard-Rating” on updating of the company’s credit rating/rating of financial stability (reliability) of the insurer at the level uaA+ according to the national scale.
Thus premiums from individuals have amounted to UAH 0,054 m, and premiums from reinsurers have been absent. Thus, following the results of Q1 2024 the client portfolio of the insurer on gross premiums has been mainly represented by legal persons.
Insurance payments sent to reinsurers, in Q1 2024 compared to the same period of 2023 have decreased by 49,39% – up to UAH 10,220 mln The ratio of reinsurers’ participation in insurance premiums has grown by 1,53 p.p. – to 57,41%.
Net premiums of the insurer following the results of Q1 2024 compared to Q1 2023 have decreased by 52,44% to UAH 7,581 mln, and earned premiums – by 50,42% to UAH 8,111 mln.
The volume of insurance payments and indemnities made in the reporting period compared to the same period of 2023 has grown in 2,26 times – up to UAH 4,170 mln. Thus, the level of payouts has increased by 18,32 p.p. – up to 23.43%.
At that, the company’s activity has been profitable. Thus, the profit from operating activities of the insurer amounted to UAH 2,183 mln, and net profit – UAH 2,087 mln.
Assets of the company on April 1, 2024 have grown by 0,21% – to UAH 76,025 mln, shareholders’ equity has shown growth by 3,16% – to UAH 66,625 mln, liabilities have decreased by 16,67% – to UAH 9,4 mln, cash and cash equivalents have decreased by 2,01% – to UAH 40,314 mln. According to the company’s website, it was registered in the Unified State Register of Legal Entities, Physical Entrepreneurs in 2006. Its authorized capital is 15 million UAH. Its shareholders are eight individuals – residents of Ukraine and one legal entity – LLC “Agroholding 2012”.
In January-March 2024, the insurance company “Knyazha Vienna Insurance Group” (Kyiv) collected UAH 543.5 million of insurance payments, which is 41.54% more than in the same period a year earlier, according to the message of the rating agency “Standard Rating” on the confirmation of the financial strength rating/credit rating of the insurer at the level of “uaAA+” for the specified period.
As reported on the RA website, during the period under review, the insurer’s revenues from individuals increased by 45.71% to UAH 376.64 million, and from reinsurers – by 27.81% to UAH 0.579 million. At the end of the quarter, the share of individuals in the company’s gross premiums amounted to 69.30%, and the share of reinsurers – 0.11%.
Insurance payments sent to reinsurers in the first quarter of 2024 increased by 46.48% to UAH 182.286 million compared to the same period in 2023, while the participation ratio of reinsurance companies in insurance premiums increased by 1.13 percentage points to 33.54%.
Net written premiums increased by 39.16% to UAH 361.221 million, while earned premiums increased by 47.24% to UAH 451.132 million.
Insurance claims and reimbursements increased by 63.25% to UAH 217.704 million. Thus, the claims ratio increased by 5.33 percentage points to 40.06%.
The insurer’s net profit for the first quarter of 2024 amounted to UAH 18.094 million.
At the same time, assets increased by 3.97% to UAH 1.853 billion, equity increased by 3.09% to UAH 462.559 million, liabilities increased by 4.27% to UAH 1.391 billion, cash and cash equivalent decreased by 37.72% to UAH 31.166 million.
The RA notes that as of April 1, 2024, the insurer made financial investments in the amount of UAH 930.821 million, consisting of government bonds (78.15% of the investment portfolio), as well as deposits in banks with a high credit rating (21.85% of the portfolio).
PrJSC “IC “Knyazha Vienna Insurance Group” is a part of IFG Vienna Insurance Group Ukraine, the main shareholder of which is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria). The group also includes PrJSC IC Ukrainian Insurance Group – 100%, PrJSC IC Knyazha Life Vienne Insurance Group – 97.8%, LLC USG Consulting – 50.7%, LLC VIG Services Ukraine – 78.7%, LLC Assistance Company Ukrainian Assistance Service – 100%.
In January-March 2024, PJSC “Ukrainian Agrarian Insurance Company” (UASC, Kyiv) collected UAH 1.289 million of gross premiums, which is 7.33% less than in the same period a year earlier.
The rating agency Standard-Rating reported, confirming the company’s financial strength rating at the level of “uaAA” on the national scale.
According to the report on the RA website, in particular, revenues from individuals increased by 9.33% to UAH 0.082 million, and there were no premiums from reinsurers in the period under review. Thus, taking into account the share of individuals in gross premiums at 6.36%, legal entities prevailed in the insurer’s client portfolio.
Insurance payments sent to reinsurers for the first quarter of 2024 decreased by 19.18% to UAH 0.316 million compared to the same period in 2023, and the reinsurer participation ratio in insurance premiums decreased by 3.59 p.p. to 24.52%.
The company’s net written premiums in the analyzed period decreased by 2.70% to UAH 0.973 million.
In the first three months of 2024, the company paid UAH 1,741 million in insurance claims and indemnities to its clients, which is 74.97% higher than in the same period of 2023. The level of payments in the reporting period increased by 63.54 p.p. to 135.07%.
The financial result from operating activities amounted to UAH 3.515 million, and net profit amounted to UAH 6.842 million.
As of April 1, 2024, the insurer’s assets decreased by 1.25% to UAH 75.967 million, equity showed an increase of 11.57% to UAH 65.974 million, liabilities decreased by 43.85% to UAH 9.993 million, cash and cash equivalents decreased by 82.79% to UAH 3.604 million.
RA also reported that as of the reporting date, the company had formed a portfolio of current financial investments in the amount of UAH 68.666 million, which consisted of investments in government bonds.
IC Ukrainian Agricultural Insurance Company (formerly IC Salamandra-Dnipro) has been operating in the country’s market since 1995.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, 84.750% of UASC’s authorized capital is owned by Dobrobut Agrofirm, Astarta-Kyiv LLC owns 5.5%, and Poltavazernoprodukt Investment and Industrial Company LLC owns 9.75%.
Metinvest Mining and Metallurgical Group, including its associates and joint ventures, increased its payments of taxes and fees to the budgets of all levels in Ukraine by 56% year-on-year to UAH 9.9 billion in January-June this year.
According to the company’s press release on Monday, the largest payment is the subsoil use fee, which more than tripled to UAH 2.9 billion in the first half of 2023. The second largest payment was the unified social tax of UAH 1.8 billion, up 19%. The top three largest payments were made in the form of UAH 1.7 billion in personal income tax, up 16% year-on-year.
At the same time, Metinvest’s Ukrainian enterprises paid UAH 1.4 billion in corporate income tax in January-June 2024, up 26% compared to January-June 2023. Land payments increased by 7% to UAH 631 million and environmental tax by 22% to UAH 368 million.
Yuriy Ryzhenkov, CEO of Metinvest, stated that the group has overcome many challenges during the war, but many challenges are still ahead.
“Our efforts to rebuild our business to operate in the new environment and our ability to turn problems into opportunities have paid off – tax payments are growing. This is our contribution to supporting the economy of Ukraine and the regions near the frontline where the company’s enterprises operate. We allocate significant resources to help the army and civilians, continue to make plans for a peaceful future and are ready to participate in the post-war revival of the country,” the top manager emphasized.
As reported earlier, Metinvest almost doubled its tax payments to the Ukrainian budget in the first quarter of 2024 to UAH 4.2 billion. In 2023, the company paid UAH 14.6 billion to the Ukrainian budget.
“Metinvest is a vertically integrated group of steel and mining companies. The Group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
