In 2023, ARX Insurance Company (ARX Kyiv) made insurance payments in the amount of UAH 1.384 billion, which is 33.07% more than a year earlier.
According to the company’s Facebook page, in December 2023, the company paid UAH 131.025 million to its clients, including UAH 67.632 million in voluntary motor hull insurance, UAH 14.456 million in compulsory motor third-party liability insurance, UAH 36.196 million in voluntary health insurance, and UAH 2.963 million in Green Card insurance.
As reported, ARX Insurance Company has been operating in the insurance market for 26 years. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).
In 2023, Express Insurance (Kyiv) paid insurance claims in the amount of UAH 331.1 million, which is 41.5% more than in 2022.
According to the company’s information, payments for hull insurance amounted to UAH 288.5 million, which is 39.4% more than in 2022, MTPL – UAH 31.5 million (+42.3%), VHI – UAH 6.5 million, which is 2.5 times more than last year.
Payments on other types of insurance amounted to UAH 4.6 million (+98.6%).
The company also reports that in December 2023, it paid UAH 33.1 million to customers, which is UAH 6.6 million more than the same period last year. In particular, payments for motor hull insurance for the past year amounted to UAH 29.8 million (+33.6%), for MTPL – UAH 2.8 million (-19.4% compared to December 2022).
Express Insurance ALC was founded in 2008 with the participation of UkrAVTO Corporation. Since April 2012, it has been an associate member of the Motor Transport Insurance Bureau of Ukraine.
In January-November 2023, Guardian Insurance Company (Kyiv) collected insurance premiums in the amount of UAH 1.2 billion, which is 47.67% more than in the same period of 2022.
According to the insurer’s website, for 11 months of this year, the company paid UAH 344.55 million to customers, which is 2.4 times more than in the same period last year.
Guardian has been operating in the insurance market since 2007. It is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it received the status of a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) and is authorized to sell Green Card policies.
In October 2020, by the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the Nuclear Insurance Pool.
In November 2023, TAS Insurance Group (Kyiv) increased the volume of premiums collected by 40.1% to UAH 299.31 million compared to the same period in 2022, according to the group’s website.
The collected premiums under hull insurance contracts for the period amounted to UAH 71.66 million, which is 23.94% of the company’s total premiums and 16.5% higher than the corresponding figure for November 2022.
MTPL accounted for 35.81% of the premiums collected, or UAH 107.18 million of premiums, which is 31.8% more than last year, while Green Card accounted for 27.14% or UAH 81.23 million of payments (+88.3%).
In turn, under voluntary health insurance contracts, TAS IG attracted UAH 6.89 million of insurance premiums, which is 63.2% more, under property insurance contracts – UAH 6.09 million of insurance payments, under other insurance contracts – UAH 26.26 million, which is 52.4% more than last year.
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 of 28 regional directorates and branches.
In November 2023, the company increased payments by 96.1% to UAH 145 million.
In January-September 2023, PJSC “Ukrainian Agrarian Insurance Company” (UASC, Kyiv) collected UAH 17.863 million in gross premiums, which is 56.2% more than in the same period of 2022, according to the rating agency “Standard Rating”, confirming the company’s financial strength rating at the level of “uaAA” on the national scale.
According to a report on the RA website, in particular, revenues from individuals decreased by 22.41% to UAH 180 thousand, and there were no premiums from reinsurers in the period under review.
Insurance payments sent to reinsurers for the three quarters of 2023 compared to the same period of 2022 increased by 65.52% to UAH 8.592 million, and the reinsurer participation ratio in insurance premiums increased by 2.70 p.p. to 48.1%.
In addition, the insurer’s net written premiums increased by 48.53% to UAH 9,271 million, and earned premiums by 27.71% to UAH 10,540 million.
In the first nine months of 2023, the company paid UAH 2,761 million in insurance claims and reimbursements to its customers, which is 32.68% higher than in the first nine months of 2022. Given the higher growth rate of gross premiums compared to insurance claims, the level of payments in the analyzed period decreased by 2.74 p.p. to 15.46%.
According to the results of January-September 2023, the company received a net profit of UAH 1.099 million. Its assets increased by 13.64% to UAH 89.405 million, equity showed an increase of 1.86% to UAH 60.316 million, liabilities increased by 49.52% to UAH 29.089 million, cash and cash equivalents decreased by 76.92% to UAH 1.738 million.
RA informs that as of October 1, 2023, the company has formed a portfolio of current financial investments in the amount of UAH 78.054 million, consisting of deposits in banks with a credit rating of at least uaAA (UAH 18 million) and investments in government bonds (UAH 60.054 million).
IC Ukrainian Agricultural Insurance Company (formerly IC Salamandra-Dnipro) has been operating in the country’s market since 1995.
According to the company, 84.75% of its authorized capital is owned by Dobrobut Agrofirm, 5.5% by Astarta-Kyiv Firm LLC, and 9.75% by Poltavazernoproduct LLC.
As reported, in August this year, the NBU approved Astarta Holding PLS’s indirect ownership of 100% of the insurer’s shares.
In January-September, VUSO Insurance Company (VUSO, Kyiv) collected about UAH 2.005 billion in insurance premiums, which is 78% more than in the same period in 2022 (UAH 1.126 billion).
According to the insurer’s press release, the improvement in the level of insurance premiums is observed in almost all areas, in particular, VHI by 3.4 times to UAH 391.8 million, travel insurance by 15% to UAH 74.9 million, hull insurance by 70% to UAH 497.4 million, MTPL by 26% to UAH 260.4 million. The total amount of insurance premiums under the Green Card for this period amounted to UAH 171.1 million.
The company also reports that it has paid UAH 679.9 million in nine months, which is 2.1 times more than the same period last year (UAH 324.4 million). In particular, payments under voluntary health insurance amounted to UAH 177.4 million (up 4.9 times), MTPL – UAH 116.6 million (+69%), hull insurance – UAH 189.8 million (+45.5%). The level of payments for the Green Card amounted to UAH 91.8 million, and for travel insurance – UAH 20.2 million.
During this time, the company also announced the launch of updated products, including Medical Concierge, Give Yourself a Life critical illness insurance, and Patriot 2.0 Unlimited hull insurance with military risk coverage.
VUSO Insurance Company was founded in 2001. The company currently has a financial strength rating of uaAA. It is represented in all regions of Ukraine. The company is a member of the MTIBU and the Ukrainian Insurance Fund, a party to the Direct Claims Settlement Agreement and a member of the Nuclear Insurance Pool.
