Insurance company BBS Insurance (formerly Brokbusiness, Kyiv) collected UAH 660.03 million in gross premiums in January-September 2025, which is 64.70% more than in the same period of 2024.
This was reported by RA Expert-Rating in its confirmation of the insurance company’s financial stability rating at “uaAA” on the national scale.
According to the RA, the share of insurance premiums belonging to reinsurers increased by 44.6%, while their share in the company’s gross premium structure decreased by 0.23 p.p. to 1.63%.
In the first nine months of 2025, the company made 77.75% more insurance payments and reimbursements than in the first nine months of 2024, and the level of payments increased by 2.62 p.p. to 35.67%.
During the reporting period, the equity capital of IC “BBS Insurance” increased by 21.21% to UAH 196.84 million, while its gross liabilities increased by 61.05% to UAH 388.29 million. As a result of the higher growth rate of liabilities, the level of coverage of the insurer’s liabilities by equity capital decreased in the reporting period: by 16.67 p.p. to 50.69%.
Cash and cash equivalents increased by 58.62% to UAH 382.28 million, while the ratio of cash to liabilities decreased by 1.51 p.p. to 98.45%. Thus, as of the beginning of the fourth quarter of 2025, highly liquid assets covered 98.45% of the company’s liabilities.
RA also notes that the company’s activities were profitable during the period under review. Compared to the same period in 2024, operating profit increased by 38.51% to UAH 49.05 million, and net profit increased by 27.13% to UAH 47.63 million.
BBS Insurance has been operating in the Ukrainian insurance market for over 30 years and is represented in all regions of the country. It has a license to conduct insurance activities in 18 classes.
Insurance company Quorum (Kyiv) collected net insurance premiums in the amount of UAH 47.195 million in January-September 2025, which is 36.4% more than in the same period of 2024, and gross premiums in the amount of UAH 50.216 million (+1.17%) .
This was reported by the rating agency (RA) Standard-Rating in its information on the update of the company’s credit rating/financial stability rating on the national scale at the level of “uaAA”.
The agency specified that it had updated the rating based on an analysis of the company’s performance for the reporting period.
Revenues from individuals in the insurance company increased by 10.82% to UAH 27.072 million, while there were no revenues from reinsurers. The share of individuals in gross premiums for the first nine months of 2025 was 53.91%.
Insurance premiums sent to reinsurers in January-September 2025 amounted to UAH 3.021 million, which is 79.91% less than in the same period of 2024. Thus, the reinsurers’ share in insurance premiums decreased by 24.27 percentage points to 6.02%.
The volume of insurance payments and reimbursements made by the company in the first nine months of 2025 increased by 44.26% compared to the same period in 2024, to UAH 7.894 million. Thus, the level of payments increased by 4.70 p.p. to 15.72%.
The activities of TOV “SK ”Quorum” in the period under review were profitable, and operating and net profits showed growth – by 5.89% to UAH 8.8 million and by 9.64% to UAH 8.3 million, respectively.
As of September 30, 2025, the company’s assets grew by 13.93% to UAH 79.632 million, equity increased by 13.54% to UAH 69.736 million, liabilities grew by 16.77% to UAH 9.896 million, and cash and cash equivalents increased by 12.52% to UAH 56.095 million.
Thus, as of the beginning of the fourth quarter of 2025, the company had very high levels of capitalization (704.69%) and the ratio between cash and liabilities (566.85%), the RA notes.
Insurance company Quorum was established in March 2014 and specializes in risk insurance.
In January-September 2025, PJSC Insurance Company Persha (Kyiv) collected UAH 1.034 billion in gross premiums, which is 24.19% higher than the figure for the first nine months of the previous year. Net premiums amounted to UAH 971.833 million (+25.68%), according to Standard Rating, which confirmed the company’s credit rating/financial stability rating at “uaAA” on the national scale based on its performance during the period.
In particular, it is noted that revenues from individuals grew by 40.75% to UAH 430.970 million, and from reinsurers by 9.04% to UAH 1.881 million. Thus, based on the results of the first nine months of 2025, the share of individuals in the insurer’s gross premiums was 41.69%.
Insurance payments sent to reinsurers for the first nine months of 2025 increased by 4.69% compared to the same period in 2024, to UAH 61.812 million, while the reinsurers’ share in insurance premiums decreased by 1.11 percentage points, to 5.98%.
RA reports that in the first three quarters of 2025, IC “Persha” paid its clients UAH 455.588 million in insurance payments and reimbursements, which is 42.15% higher than the amount of payments in the same period of 2024. Thus, the payout ratio increased by 5.57 percentage points to 44.08%.
During the reporting period, the insurer’s operating profit increased to UAH 86.949 million, and net profit to UAH 90.008 million.
As of October 1, 2025, the company’s assets grew by 22.18% to UAH 1.343 billion, equity increased by 41.75% to UAH 356.530 million, liabilities increased by 16.37% to UAH 986.008 million, and cash and cash equivalents grew by 96.9% to UAH 450.771 million.
At the same time, the RA notes that as of October 1, 2025, IC “Persha” had formed a portfolio of current financial investments in bank deposits in the amount of UAH 17.707 million, which, together with cash and cash equivalents, covered 47.51% of its liabilities.
PJSC Insurance Company Persha has been operating in the Ukrainian insurance market since 2001. The company’s main specialization is auto insurance. IC Persha is a member of the Motor Transport Insurance Bureau of Ukraine, the League of Insurance Organizations of Ukraine, and the National Insurer of International Road Transport (TIR).
Insurance company PJSC IC “PZU Ukraine” (Kyiv) attracted UAH 2.376 billion in premiums in January-September 2025, which is UAH 731 million, or 44.4%, more than in the corresponding period of 2024, according to the company’s press release.
The largest increase in payments for the reporting period was recorded in the segment of compulsory civil liability insurance for owners of land vehicles (OSCPV) – by 71%, to UAH 788 million, or 33% of the total volume, CASCO – by 29%, to UAH 398 million, or 17% of the total volume.
Under Green Card policies, the company attracted UAH 659 million in insurance premiums in the first nine months of 2025, which is 28% of the insurer’s total revenue and 60% higher than the corresponding figure for the same period in 2024.
Medical insurance accounted for 10% of the company’s portfolio, with the insurance company collecting UAH 229 million in payments (+46%) under such contracts during the period.
PZU Ukraine’s revenue from other insurance contracts amounted to UAH 301 million in the first nine months of 2025.
PJSC IC PZU Ukraine has been operating in the Ukrainian market since 1993. It is supported by one of the largest insurance groups in Central and Eastern Europe, PZU Group (which includes the parent company of PJSC IC PZU Ukraine, PZU S.A.).
The leaders of the Ukrainian insurance market in terms of premiums collected in January-September 2025 were the insurance companies SG TAS – UAH 5.717 billion (UAH 3.474 billion in the first nine months of 2024), ARKS – UAH 4.238 billion (UAH 3.150 billion), INGO – UAH 3.830 billion (UAH 2.462 billion), VUSO Insurance Company – UAH 3.728 billion (UAH 2.860 billion), and Unica – UAH 3.572 billion (UAH 2.564 billion), according to data from the PRIMA information exchange project of the National Association of Insurers of Ukraine (NAIU).
Changes in the top five for the specified period compared to the same period last year affected SK INGO, which rose from fifth to third place, swapping places with SK Unica.
According to the association’s website, the top five leaders in terms of premiums collected in the compulsory motor third-party liability insurance market have also changed, and after nine months, the leaders are TAS Insurance Company with UAH 2.958 billion (compared to UAH 1.049 billion in the same period of 2024), Oranta with UAH 2.206 billion (UAH 1.004 billion), Knyazha VIG with UAH 1.807 billion (UAH 764.9 million), INGO with UAH 948.2 million, and USG with UAH 831.1 million, pushing PZU Ukraine and VUSO out of the top five PZU Ukraine and VUSO, respectively.
Similarly insignificant changes in the comparable periods occurred in the Green Card market, where the top five remained unchanged: TAS – UAH 960.5 million (UAH 1.025 billion), USG – UAH 828.7 million (UAH 553.7 million), PZU with UAH 659.2 million (UAH 411 million), and Knyazha VIG with UAH 286.4 million (UAH 475.5 million), which switched places, and VUSO Insurance Company – UAH 208.5 million instead of Oranta, which ceded fifth place in this type of insurance.
Similarly, in the CASCO market: as before, it is led by ARKS Insurance Company – UAH 2.057 billion (UAH 1.737 billion), Arsenal Insurance – UAH 1.940 billion (UAH 1.416 billion), VUSO with UAH 955.2 million (UAH 720.4 million) and Unica with UAH 890 million (UAH 826.7 million), which switched places, and Universal with UAH 839.8 million instead of USG.
The former top five also retained their leadership in voluntary medical insurance: Unica Insurance Company – UAH 1.602 billion (UAH 1.193 billion), followed by VUSO Insurance Company – UAH 887.4 million (UAH 603.2 million), Insurance Company Universalna – UAH 866.4 million (UAH 615.8 million), Insurance Company INGO – UAH 780 million (UAH 525.4 million), and Insurance Group TAS – UAH 652.9 million (UAH 405.7 million).
As reported, as of October 1, 2025, there were 50 risk insurers operating in the Ukrainian insurance market (58 on the same date a year earlier), 10 specializing in life insurance (11), and one with special status (Export Credit Agency, ECA).
INGO, INSURANCE MARKET, LEADER, PREMIUM, TAS, UNICA, VUSO, АРКС
In January-June 2025, PJSC Insurance Company VUSO (Kyiv) collected UAH 2.129 billion in gross premiums, which is 52.6% more than in the same period of 2024, net premiums grew by 54.18% to UAH 1.886 billion, while net earned premiums increased by 40.98% to UAH 1.764 billion.
These figures are provided in the information from Standard-Rating on the confirmation of the company’s financial stability rating at “uaAA” on the national scale for the specified period.
According to the data on the rating agency’s website, the insurer’s revenues from individuals for the specified period increased by 55.36% to UAH 1.374 billion, and from reinsurers – by 17.67% to UAH 21.652 million. Thus, the share of individuals in the insurer’s gross premiums for the first half of 2025 was 64.54%, and the share of reinsurers was 1.02%.
RA notes that accrued reinsurance premiums transferred to reinsurance for the first half of 2025 increased by 41.37% compared to the same period in 2024, to UAH 243.143 million. The reinsurers’ share in insurance premiums decreased by 0.91 percentage points to 11.42%.
In the first six months of 2025, VUSO Insurance Company paid out UAH 787.863 million to its clients, which is 9.08% higher than the volume of insurance payments and reimbursements for the same period in 2024. The payout ratio decreased by 14.77 percentage points to 37.01%.
Based on the results for January-June 2025, operating profit increased by 34.13% compared to the same period in 2024, to UAH 135.494 million, while net profit grew 2.95 times to UAH 102.332 million.
As of July 1, 2025, the company’s assets grew by 20.21% to UAH 2.305 billion, equity increased by 7.59% to UAH 813.212 million, liabilities increased by 28.43% to UAH 1.491 billion, cash and cash equivalents increased by 24.43% to UAH 944.106 million.
According to RA data, as of the beginning of the third quarter of 2025, the company had a capitalization level of 54.52% and a cash coverage ratio of 63.30%. In addition, as of the reporting date, IC “VUSO” had formed a portfolio of investments in government bonds in the amount of UAH 326.025 million, which together covered 85.16% of the company’s liabilities. In addition, the balance of funds in centralized insurance reserve funds (MTIBU) amounted to UAH 522.123 million, which also had a positive impact on the company’s liquidity.
VUSO Insurance Company was founded in 2001. It has 50 insurance licenses, 34 representative offices, 2 branches, and more than 20 agency sales centers throughout Ukraine, with over 700 professionals. It is a member of the MTIBU, NASU, and the Nuclear Insurance Pool.
