In January-June 2025, Insurance Guarantees of Ukraine (IGU, Kyiv) collected UAH 784,000 in gross premiums, which is 20.8% more than in the same period of 2024, according to data from the rating agency Expert-Rating confirming the insurer’s financial stability rating for the first half of 2025 at “uaAA” on the national scale.
The information notes that during this period in 2025, the company did not make any insurance payments.
SGU’s equity capital for the reporting period decreased by 7.31% to UAH 50.86 million, while gross liabilities increased by 42.2% to UAH 1.46 million.
The amount of cash and cash equivalents in SGU’s accounts as of July 1, 2025, was UAH 43.77 million, which is 7.96% less than on the same date a year ago. At the same time, as of the beginning of the second half of 2025, the company was very well provided with highly liquid assets, the volume of which exceeded the insurer’s gross liabilities by almost 30 times, the RA notes.
The company’s activities in the first half of 2025 were unprofitable: the insurer incurred a net loss of UAH 1.232 million and an operating loss of UAH 2.025 million.
PJSC “SGU” was registered in November 2005. It has licenses to conduct 15 types of insurance activities: four for compulsory insurance and 11 for voluntary insurance.
In January-June 2025, ARX Insurance Company (Kyiv) collected net premiums in the amount of UAH 2.575 billion, which is 35.17% more than in the same period a year ago, and increased gross premiums to UAH 2.731 billion (+39.7%).
These statistics are provided on the website of RA “Standard-Rating” regarding the update of the company’s credit rating/financial stability (reliability) rating at the level of “uaААА” on the national scale based on the results of the first half of 2025.
According to the published data, revenues from individuals increased in the insurer’s portfolio by 37.89% to UAH 1.579 billion, while revenues from reinsurers decreased by 33.56% to UAH 3.846 million. Thus, the share of individuals in the gross premiums of the insurance company was 57.83%, and the share of reinsurers was 0.14%.
Insurance payments sent to reinsurers in the first half of 2025 increased more than threefold compared to the same period in 2024, to UAH 155.850 million, The reinsurers’ share in insurance premiums increased to 5.71% in the first half of 2025.
The volume of insurance payments made by the insurer during this reporting period increased by 16.86% compared to January-June 2024, to UAH 1 billion. Given the higher growth rate of gross premiums compared to insurance payments, the level of payments decreased by 7.16 percentage points (pp) to 36.63%.
The RA notes that, based on the results of the first half of 2025, ARKS Insurance Company’s activities were profitable: the company received UAH 61.608 million in operating profit and UAH 198.688 million in net profit.
As of July 1, 2025, its assets increased by 12.71% to UAH 5.883 billion, equity showed an increase of 7.55% to UAH 2.832 billion, liabilities increased by 17.96% to UAH 3.051 billion, and cash and cash equivalents increased by 42.01% to UAH 1.161 billion.
According to RA data, as of the beginning of the third quarter of 2025, the company had a capitalization level of 92.81%, and 38.05% of its liabilities were covered by cash and cash equivalents.
At the same time, as of July 1, 2025, the insurer made financial investments in the amount of UAH 2.889 billion, consisting of government bonds and municipal bonds (63.27% of the investment portfolio), as well as deposits in banks with an investment-grade credit rating (36.73% of the portfolio). Thus, as of the reporting date, liquid assets exceeded the liabilities of ARKS Insurance Company by 1.33 times.
ARKS is part of the international insurance holding company Fairfax Financial Holdings Ltd.
The Vienna Insurance Group (VIG) reported a 10.5% increase in pre-tax profit to €531.4 million in the first half of 2025 compared to the same period in 2024, partly due to significantly lower overall claims development.
According to the Reinsurance News website, citing data from the insurer, gross written premiums also increased to €8.57 billion (up 8.7%).
According to VIG, all areas of its business recorded growth, with the highest rates observed in life insurance (+32.7%) and life insurance linked to investment funds and indices (+26.4%).
Meanwhile, health insurance grew by 15.0% and motor vehicle liability insurance by 12.5%.
VIG also added that premiums in special markets grew by 19%, with Turkey (23.8%), Poland (15.2%), and the wider Central and Eastern Europe region (10.1%) being the main growth drivers, with Romania (+14.4%) and the Baltic states (+10.7%) making the largest contributions to this figure.
At the same time, insurance premiums grew by 6.7% in the Czech Republic and 5.2% in Austria.
As reported, VIG’s net combined ratio for the first half of 2025 improved to 91.9% compared to 93.3% in the first half of 2024. This is due to significantly lower costs caused by weather conditions and natural disasters during the period.
In Ukraine, VIG is represented by PJSC “IC ”Knyazha Vienna Insurance Group“, PJSC ”IC “Ukrainian Insurance Group” and PJSC “IC ”Knyazha LIFE Vienna Insurance Group”.
The leaders of the Ukrainian insurance market in terms of premiums collected in January-July 2025 were insurance companies SG TAS with UAH 4.213 billion in premiums collected, ARKS with UAH 3.270 billion, and INGO with UAH 3.101 billion. Unica attracted UAH 2.897 billion, and VUSO attracted UAH 2.613 billion, according to the website of the National Association of Insurers of Ukraine (NAIU). It is noted that compared to the same period last year, INGO surpassed Unica, pushing it out of third place.
The top five companies in the compulsory motor third-party liability insurance market in terms of premiums collected in January-July this year are TAS (UAH 2.245 billion), Oranta (UAH 1.708 billion), Knyazha VIG (UAH 1.368 billion), INGO Insurance Company (UAH 724.1 million), and USG (UAH 619.1 million).
The leaders in the Green Card market in terms of premiums collected for the period are TAS (UAH 753.9 million), USG (UAH 651.2 million), PZU (UAH 427.7 million), which rose from fourth to third place, ahead of Knyazha VIG (UAH 216.1 million), and SK INGO (UAH 152.8 million) instead of SK Oranta, which left the top five.
There were also minor changes in the CASCO market. As before, it is led by ARKS Insurance (UAH 1.539 billion), Arsenal Insurance (UAH 1.425 billion), VUSO (UAH 723 million), which swapped places with Unica (UAH 658.3 million), and Universalna (UAH 640.8 million), which took the place of USG.
At the same time, there were no changes among the leaders in voluntary medical insurance: Unika Insurance Company (UAH 1.412 billion) remains the leader in this segment, followed by Universalna (UAH 710.3 million), INGO (UAH 646 million), VUSO (UAH 493.9 million), and ARKS (UAH 370.6 million).
There were minor changes in the top five life insurance companies in January-July. As a year ago, MetLife Insurance Company (UAH 1.693 billion) ranks first. The next places were taken by IC TAS (UAH 500.6 million), Grave Life (UAH 341.8 million), PZU Life (UAH 221 million), and Arks Life (UAH 203.4 million). At the same time, Unica Life, which was in fourth place at the end of the first seven months of 2024, dropped out of the top five leaders in this market.
As reported, as of the end of July 2025, there were 51 risk insurers operating in the Ukrainian insurance market (compared to 69 on the same date in 2024), 10 specializing in life insurance (down from 12), and one with special status (Export-Credit Agency, ECA).
In January-June 2025, the insurance company Ukrainian Insurance Group (UIG, Kyiv) collected UAH 1.932 billion in gross premiums, which is 37.14% more than in the same period last year, with net premiums amounting to UAH 1.738 billion (+51.54%).
This was reported on the website of the rating agency Standard-Rating, which confirmed the insurance company’s financial stability/credit rating at “uaAA+” based on the results of the reporting period.
At the same time, income from individuals during this period increased by 64.20% to UAH 1.188 billion, while income from reinsurers decreased by 25.78% to UAH 3.158 million. At the end of the first half of 2025, individuals accounted for 61.51% of the company’s gross premiums, while reinsurers accounted for 0.16%.
Insurance payments sent to reinsurers in the first half of 2025 decreased by 25.99% to UAH 193.735 million compared to the same period last year. Thus, the share of reinsurance companies in insurance premiums decreased by 8.55 percentage points (pp) to 10.03%.
The volume of insurance payments and reimbursements made by the USG in the first half of 2025 amounted to UAH 900.708 million, which is 50.41% higher than in January-June 2024. Thus, the level of payments increased by 4.12 p.p. to 46.62%.
The company’s operating profit for the reporting period fell to UAH 19.601 million (-46.99%), while net profit decreased to UAH 85.324 million (-9.5%).
As of July 1, 2025, the insurance company’s assets increased by 16.44% to UAH 3.480 billion, and its equity capital by 13.62% to UAH 707.466 million. Liabilities showed an increase of 17.18% and rose to UAH 2.773 billion, while cash and cash equivalents grew by 82.80% to UAH 423.46 million.
RA notes that at the beginning of the third quarter of 2025, the company had a satisfactory level of capitalization (25.52%), and cash covered 15.27% of its liabilities. The insurer formed a portfolio of financial investments worth UAH 1.891 billion, consisting of government bonds and government bonds with a fixed coupon (81.37% of the portfolio) and deposits in banks with high credit ratings (18.63%). As of July 1, 2025, liquid assets covered 83.47% of the insurer’s liabilities.
As reported, the controlling shareholder of IC USG is the Vienna Insurance Group, an international insurance group headquartered in Austria, which is represented by 50 companies in 30 countries and is the leader in the insurance market of Central and Eastern Europe.
Insurance company Universal (Kyiv) collected UAH 1.614 billion in gross insurance premiums in January-June 2025, which is 34.45% more than in the same period of 2024, according to the website of the rating agency Standard-Rating.
The agency updated the credit rating/financial stability (reliability) rating of Universalna Insurance Company at “uaAAА” on the national scale based on an analysis of its performance during the specified period.
According to the published data, income from individuals increased by 38.37% to UAH 737.560 million, while income from reinsurers, on the contrary, decreased by 53.26% to UAH 3.489 million. Thus, at the end of the first half of 2025, legal entities prevailed in the company’s client portfolio.
Insurance payments sent to reinsurers in the first half of 2025 increased by 59.05% to UAH 87.637 million compared to the same period in 2024, and the reinsurers’ share in insurance premiums increased by 0.84 percentage points to 5.43%.
During the period, the insurer’s net premiums increased by 33.27% to UAH 1.526 billion, while net earned premiums showed an increase of 31.99% to UAH 1.322 billion.
The volume of insurance payments made by IC Universalna in the first half of 2025 increased by 27.52% compared to the same period in 2024 and amounted to UAH 538.405 million, while the level of payments decreased by 1.81 percentage points to 33.37%.
The insurer’s operating profit for the first six months of 2025 increased by 21.4% compared to the same period in 2024, to UAH 146.152 million, while net profit increased by 19.89%, to UAH 151.910 million.
As of July 1, 2025, the company’s assets grew by 10.73% to UAH 2.155 billion, equity capital increased by 15.59% to UAH 1.126 billion due to an increase in retained earnings, liabilities increased by 5.85% to UAH 1.029 billion, cash and cash equivalents increased by 4.90% to UAH 603.902 million.
RA also reports that as of the reporting date, the company was very well provided with equity capital, which exceeded its liabilities by 9.45%. In addition, the insurance company formed a portfolio of current financial investments in liquid instruments in the amount of UAH 1.363 billion, which consisted of bank deposits (UAH 1.167 billion) and government bonds (UAH 195.818 million).
As of the beginning of the third quarter of 2025, cash and cash equivalents covered 58.69% of IC Universalna’s liabilities, and liquid assets (cash, bank deposits, and government bonds) exceeded the insurer’s liabilities by 1.75 times.
The main shareholder of IC “Universalna” is Fairfax Financial Holdings Limited (Canada), a holding company that, through its subsidiaries, is primarily engaged in accident insurance, property insurance, and investment management.
