In 2024, the insurance company Ukrainian Insurance Group (Kyiv) collected UAH 3.01 billion in gross premiums, which is 2.49% more than a year earlier.
This is reported on the website of the rating agency Standard-Rating, which affirmed the financial strength rating/credit rating of the insurance company at uaAA+ for the reporting period.
At the same time, revenues from individuals in 2024 decreased by 7.10% to UAH 1.647 billion, and from reinsurers decreased by 30.75% to UAH 7.003 million. At the end of 2024, the share of individuals in the company’s gross premiums amounted to 54.71%, and the share of reinsurers – 0.23%.
Insurance payments sent to reinsurers in 2024 decreased by 4.24% compared to 2023 – to UAH 489.786 million, the participation ratio of reinsurance companies in insurance premiums decreased by 1.15 percentage points to 16.27%.
The company’s net written premiums increased by 3.91% to UAH 2.52 billion, while net earned premiums decreased by 4.18% to UAH 2.442 billion.
The volume of insurance payments and reimbursements made by “USG” in 2024 amounted to UAH 1.532 billion, which is 3.67% more than in 2023. Thus, the level of payments increased to 50.90%.
The RA also reports that the financial loss from operating activities amounted to UAH 53.076 million (UAH 24.6 million a year earlier), net profit was UAH 23.216 million (UAH 109 million).
As of January 1, 2025, the companies’ assets increased by 9.50% to UAH 2.989 billion, equity increased by 4.20% to UAH 622.670 million, liabilities showed an increase of 10.98% to UAH 2.366 billion, and cash and cash equivalents decreased by 72.13% to UAH 231.658 million.
Thus, as of the beginning of 2025, the company had a satisfactory level of capitalization (26.32%), and cash covered 9.79% of its liabilities.
At the same time, the RA notes that as of the reporting date, the insurer has formed a portfolio of financial investments in the amount of UAH 1.665 billion, consisting of government bonds and government bonds (81.66% of the portfolio) and deposits in banks with a high credit rating (18.34% of the portfolio).
As reported, the controlling shareholder of USG Insurance is Vienna Insurance Group, an international insurance group headquartered in Austria, represented by 50 companies in 30 countries and a leader in the insurance market of Central and Eastern Europe.
In January 2025, Express Insurance (Kyiv) collected insurance premiums in the amount of UAH 102.6 million, which is 71.9% more than in January 2024.
According to the insurer’s website, in January, it paid out more than UAH 34.4 million, which is 17% more than in the same period of 2024.
In particular, payments under hull insurance amounted to UAH 27 million (+5.3%), under MTPL – UAH 6.8 million (2.4 times more), payments under other insurance contracts – UAH 660 thousand.
“The increase in MTPL payments is a direct result of customer confidence in the company and the increase in the number of contracts concluded,” the statement said.
Express Insurance ALC was founded in 2008 and is part of the UkrAVTO group of companies. The company specializes in automobile insurance. The consistently high speed of claims settlement in the IC is ensured by optimal interaction with partner service stations.
Since April 2012, Express Insurance has been an associate member of the Motor Transport Insurance Bureau of Ukraine.
In January-September 2024, PJSC “European Insurance Alliance” (Kyiv) collected UAH 220.9 million of net premiums, which is 23.03% higher than the volume of premiums for the same period in 2023, and also increased by 10.3% the collection of gross premiums – up to UAH 254.8 million.
In the report of the Standard Rating agency on the update of the company’s financial strength rating (credit rating) for the first nine months of 2024 on the national scale at the level of “uaAA”, it is noted that revenues from individuals increased by 34.3% to UAH 78.7 million, from reinsurers – more than doubled to UAH 0.875 million.
Thus, legal entities continue to dominate the company’s client portfolio.
During the reporting period, the company paid out UAH 121.8 million in insurance claims, which is 46.1% more than in the same period a year earlier.
As of the beginning of the fourth quarter of 2024, 53.36% of the company’s liabilities were covered by equity, and 10.49% by cash and cash equivalents.
At the same time, the company has formed a portfolio of financial investments consisting of government bonds and bank deposits in the amount of UAH 83.270 million. At the beginning of the fourth quarter of 2024, liquid assets (cash, government bonds and bank deposits) covered 67.27% of the company’s liabilities.
European Insurance Alliance has been operating in the Ukrainian insurance market since 1994. The company is a member of the Audit Commission of the MTIBU, a party to the agreement on direct settlement of losses on compulsory insurance of civil liability of owners of land vehicles and a member of the Board of the Nuclear Insurance Pool of Ukraine.
The company provides 30 types of voluntary and compulsory insurance, including property, motor, liability and personal insurance.
In January-September 2024, TAS Insurance Group (Kyiv) collected UAH 3473.1 million in insurance premiums, which is 36.7% more than in the same period last year.
According to the insurer’s website, motor hull insurance premiums for the first nine months amounted to 18.14% of the total, or UAH 630.2 million, which is 22.9% higher than in January-September 2023; motor third party liability insurance premiums -30.2%, or UAH 1084.5 million (+27.1%), and Green Card premiums – 29.5%, or UAH 1024.9 million (+69.2%).
Under voluntary health insurance contracts, TAS Group collected UAH 373.5 million in premiums, which is 10.8% of the total premiums and 32.3% higher than the corresponding figure for the same period last year. Property insurance contracts attracted UAH 67.1 million of insurance premiums, an increase of 24.5%.
Under other insurance contracts for the first nine months of 2024, the company collected UAH 330.02 million in payments (up 25.7%).
As reported, in January-September 2024, the company paid UAH 1.427 billion under the concluded insurance contracts, which is 53% higher than the amount of reimbursements for the first nine months of last year. More than a quarter of the total volume of payments (UAH 397.4 million, or 27.84%) was for motor hull insurance, which is 38.7% higher than the corresponding year-ago figure, 32.8% or UAH 468.3 million – for MTPL (+ 33.7%), 21.57% or UAH 308 million – for Green Card (+ 88.7%).
The share of VHI in the company’s claims portfolio amounted to 14.22%, or UAH 203 million (twice as much) in the first eight months of the year. Under property insurance contracts, TAS Group paid UAH 9.62 million (+65%) in the reporting period.
Under other insurance contracts, the company paid UAH 41.3 million (+74.4%).
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-August 2024, TAS Insurance Group (Kyiv) collected UAH 3056.1 million in insurance premiums, which is 37.5% more than in the same period last year.
According to the insurer’s website, motor hull insurance premiums amounted to 18.1% of the total, or UAH 554.03 million, which is 25.6% more than in January-August 2023; motor third party liability insurance premiums – 29.9%, or UAH 913.6 million (+27.5%), and Green Card premiums – 29.2%, or UAH 891.7 million (+73.8%).
In January-August, TAS Group collected UAH 338.4 million in premiums under voluntary health insurance contracts, which is 11.1% of the total premiums and 26% higher than the corresponding figure for the same period last year.
Also, property insurance contracts attracted UAH 60.88 million in premiums, which is 31.5% more than in the same period last year.
Under other insurance contracts for the first eight months of 2024, the company collected UAH 297.5 million in payments, an increase of 25.4%.
In January-June 2024, Universalna Insurance Company (Kyiv) collected a little more than UAH 1 billion in net insurance premiums, which is 20.6% more than in the same period in 2023, gross premiums showed an increase of 22.2% to UAH 1.2 billion, according to the website of the Standard Rating agency.
The agency has updated the credit rating/financial strength (reliability) rating of Universalna Insurance Company at uaAAA on the national scale based on the analysis of its performance for the specified period.
According to the published data, revenues from individuals increased by 23.69% to UAH 533.021 million, and from reinsurers – by 8.91 times (by UAH 6.627 million) to UAH 7.465 million.
Despite a significant increase in premiums from individuals, legal entities prevailed in the company’s client portfolio in the first half of 2024.
Insurance payments sent to reinsurers in the first half of 2024 increased by 67.43% compared to the same period in 2023 to UAH 55.1 million, the reinsurer participation ratio in insurance premiums increased by 1.24 percentage points to 4.59%.
The volume of insurance claims paid by the company increased by 46.36% to UAH 422.204 million, while the claims ratio increased by 5.82 percentage points to 35.18%.
In the first six months of 2024, compared to the same period in 2023, the insurer’s operating profit increased by 3.16 times to UAH 120.391 million, and net profit by 2.06 times to UAH 126.707 million.
As of July 1, 2024, the company’s assets increased by 14.16% to UAH 1.680 billion, equity increased by 17.11% to UAH 867.087 million, liabilities increased by 11.17% to UAH 812.56 million, cash and cash equivalents increased by 54.41% to UAH 266.432 million.
As of the said date, the insurer’s equity exceeded its liabilities by 6.71%. The current financial investment portfolio of UAH 1.121 billion consisted of bank deposits (UAH 748.698 million) and domestic government bonds (UAH 373.213 million), which covered 32.79% of the company’s liabilities.
Universalna has an international shareholder base, with the European Bank for Reconstruction and Development holding 30% of the shares and Fairfax Financial Holdings Limited 70%.
Fairfax Financial Holdings Limited (Canada) is a holding company that, through its subsidiaries, is primarily engaged in accident insurance, property insurance and investment management.
