In January-September 2024, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.645 billion in insurance premiums, which is UAH 331 million, or 25.2%, more than in 2023.
According to the insurer’s information, the largest increase in payments for the period under review occurred in the VHI (+41%), MTPL (+39%), Green Card (+19%) and hull insurance (+18%) segments.
In the first nine months of the year, UAH 307 million of premiums were collected under motor hull insurance contracts, which is 19% of the insurer’s total payments, UAH 411 million (25%) under the Green Card, and UAH 462 million (28%) under MTPL.
In turn, the share of VHI in the company’s portfolio amounted to 15%, with UAH 165 million of premiums collected under VHI policies.
In the first half of 2024, the volume of revenues of IC “PZU Ukraine” under other insurance contracts amounted to UAH 220 million.
IC “PZU Ukraine” is a part of one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).
Insurance company “PZU Ukraine” (Kiev) in January-June 2024 settled under contracts of voluntary insurance of motor vehicles (CASCO) 2,2 thousand events, which is 14% more than in the same period a year earlier, the company reports.
The total amount of payments under this type of insurance is UAH 100.7 mln, which is 23% more than in the first half of last year. At the same time, 105 applications have been accepted under CASCO contracts for events that occurred abroad, the amount of payments for events abroad is almost UAH 6 mln. The largest payment for this period under such contract amounted to UAH 1.313 mln. 53% of CASCO cases have been settled within 7 days.
According to the company’s data for 6 months of the current year under contracts of compulsory insurance of motor third party liability of vehicle owners (MTPL) the company settled 5,324 thousand events for the total amount of UAH 156,220 mln. At the same time, 474 insurance cases were considered under the system of direct settlement and payments in the amount of UAH 13.9 mln were made. Through Telegram-bot PZU on KASKO and MTPL contracts 4,811 appeals were accepted.
As for “Green Card” contracts in the period January-June 2024 502 insurance cases were settled for the total amount of UAH 78,7 mln. The largest payment under such contract for the specified period is UAH 2,740 mln.
PZU Ukraine is a part of one of the largest insurance groups of Central and Eastern Europe – PZU Group (which includes the parent company of PJSC IC PZU Ukraine – PZU S.A.).
From January to June 2024, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.067 billion in insurance premiums, which is UAH 323 million or 43.4% more than in the first half of 2023.
According to the insurer, the largest increase in payments in the reporting period was recorded in the MTPL (+67%), VHI (+53%), green card (+46%) and comprehensive insurance (+21%) segments.
In the first half of the year, UAH 194 million in premiums were collected under comprehensive insurance contracts, accounting for 18% of the insurer’s total payments, UAH 259 million (24%) under the Green Card and UAH 304 million (28%) under the MTPL.
In turn, the VHI share of the company’s portfolio amounted to 15%, with UAH 165 million in premiums collected for VHI policies.
In the first half of 2024, the volume of income from other insurance contracts of IC “PZU Ukraine” amounted to UAH 145 million.
PZU Ukraine is part of one of the largest insurance groups in Central and Eastern Europe – the PZU Group (which also includes the parent company of PZU Ukraine – PZU S.A.).
In 2023, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.869 billion in premiums, which is 46.1%, or UAH 589.5 million, more than in 2022, according to a press release from the insurer.
The largest increase in payments over the past year was recorded in the Green Card insurance segment by 2.2 times, or by UAH 266 million, voluntary health insurance (VMI) by 70% (+UAH 100 million) and compulsory motor third-party liability insurance (MTPL) by 55% (+UAH 178 million), voluntary motor vehicle insurance (VMTPL) by 29% (+UAH 83 million), and accident insurance by 9% (+UAH 3 million).
The company also reports that the share of MTPL in its portfolio in 2023 amounted to 27%, or UAH 499.4 million, Green Card – 26%, or UAH 488.9 million, CASCO – 20%, or UAH 368.5 million, VHI – 13%, or UAH 243.3 million, other types of insurance – 14%, or UAH 268.9 million.
In 2023, PZU Ukraine paid out UAH 701.4 million in insurance claims, which is 22% more than in 2022.
In the motor hull segment, UAH 167.4 million, or 24% of total claims, was settled last year, UAH 195.0 million (28%) in MTPL, UAH 109.7 million (16%) under Green Card contracts, 21% of all claims were paid out in VHI and 12% in other types of insurance.
The average period of settlement of insurance claims, from the date of the accident to the date of payment, under MTPL contracts was 37 days, and under hull insurance contracts – 14 days.
The company also reported that, according to the auditor’s report, the financial result before tax for 2023 amounted to UAH 103.8 million.
PZU Ukraine has been operating in the Ukrainian market since 1993. PZU Ukraine is supported by one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).
The traditions of the PZU Group date back to 1803, when the first insurance company Powszechny Zakład Ubezpieczeń Spółka Akcyjna (PZU SA) was founded in Poland.
In 2023, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.563 billion in net premiums, which is 40.8% more than in 2022, according to the insurer’s interim data posted in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
At the same time, written premiums for the reporting period increased by 46.1% to UAH 1.869 billion. UAH 53.215 million was ceded for reinsurance, which is half as much as a year earlier.
In 2023, the company paid claims in the amount of UAH 713.490 million, which is 78.2% more than in 2022.
Gross profit increased by 19.7% to UAH 848.982 million, administrative expenses by 26.4% to UAH 277.7 million, and sales expenses by 24.1% to UAH 491 million.
The financial result before taxation for the past year amounted to UAH 103.752 million, while a year earlier it was UAH 205.406 million.
The company also reports that it ended 2022 with a net profit of UAH 46.479 million, which is 2.4 times less than in 2022.
PZU Ukraine is supported by one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).
On December 1, 2023, the meeting of shareholders of PZU Ukraine Insurance Company (Kyiv) decided to increase the authorized capital to UAH 48.510 million from UAH 19.407 million by conducting an additional issue of shares in the amount of UAH 29.111 million, according to the NSSMC system.
It is specified that the closed issue will be carried out by increasing the nominal value of shares from UAH 10 to UAH 25 per share by allocating part of the funds from the profit for 2022 to the authorized capital.
As reported, PZU Ukraine finished 2022 with a financial result from operating activities of UAH 82.789 million and net profit of UAH 118.119 million, which is 12.4 times more than a year earlier.
In 2022, the company collected UAH 1.280 billion in gross written premiums, which is 27.03% less than in 2021, UAH 1.172 billion in net premiums (+6.76%) and UAH 1.110 billion in earned premiums (+13.38%).
The volume of payments and reimbursements made by the insurer for the specified reporting period amounted to UAH 575.537 million, which is 16.24% lower than the volume of reimbursements a year earlier.
As of December 31, 2022, the company’s assets decreased by 14.93% to UAH 2.425 billion, equity increased by 3.43% to UAH 853.817 million, liabilities decreased by 22.41% to UAH 1.571 billion, cash and cash equivalents increased 3.34 times to UAH 364.458 million.
PZU Ukraine is supported by one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).
