The National Bank of Ukraine (NBU) has applied to PJSC IC Respect (Odessa) a penalty measure in the form of a fine totaling UAH 2.880 mln for submitting reports to the regulator in violation of the deadlines.
Such decision was made by the Committee on Supervision and Regulation of Non-banking Financial Services Markets on December 22, 2025, based on the results of a scheduled inspection, which was carried out by the Inspection Department of the National Bank.
Thus, a fine in the amount of UAH 2.4 million was imposed for violation of the requirements of the Rules of compiling and submitting reports by participants of the non-banking financial services market to the National Bank of Ukraine. A fine in the amount of UAH 480 thousand has been imposed for violation of the requirements of the Regulation on authorization of financial service providers and conditions of their activities on provision of financial services.
Private JSC “IC ”Respect” is obliged to pay the fine within a month from the date of entry into force of this decision.
As it was informed, IC Respect has been working in the market of Ukraine since March, 1995. The main portfolio of risks of the company is connected with the transport sector.
In January-September 2025 the company has collected UAH 67,672 mln of net premiums that is 68% more than in the same period of 2024.
The company paid UAH 11.967 mln during the mentioned period, which is 4.3 times more than in the same period a year ago. At the same time, administrative expenses amounted to UAH 313 thousand, which is 2.2 times more than in January-September 2024.
The financial result from operating activity of IC “Respect” for nine months has amounted to UAH 5,538 mln (less in 3,8 times), net profit – UAH 8,601 mln (less in 2,7 times).
According to the data of the NCSSM as of the first quarter of 2025, LLC “AMC ”Yug-Invest“ (Mutual closed non-diversified venture investment fund ‘Industrial’) owned 67,935% of the shares of the insurer, LLC ”Lyubimiy Gorod“ – 9,646%, LLC ”Bereg building service 2017″ – 9,242%.
In January-September 2025, Respect Insurance Company (Odessa) collected UAH 67.672 million in net premiums, which is 68% more than in the same period of 2024.
According to the company’s interim report posted on the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross premiums for this period amounted to UAH 68.123 million (+64.4%). UAH 451 thousand was transferred to reinsurance (2.5 times less).
During the period, the company paid out UAH 11.967 million, which is 4.3 times more than during the same period a year ago. At the same time, administrative expenses amounted to UAH 313,000, which is 2.2 times higher than in January-September 2024.
The financial result from the operating activities of IC Respect for nine months amounted to UAH 5.538 million (3.8 times less), net profit – UAH 8.601 million (2.7 times less).
According to the NSSMC, as of the first quarter of 2025, LLC “AMC” YUG-Invest“ (Closed-end non-diversified venture investment fund ”Industrial”) owned 67.935% of the insurer’s shares, LLC “Ulyublenoe Misto” – 9.646%, LLC “Bereg Stroy Service 2017” – 9.242%.
Insurance company “Respect” has been operating in the Ukrainian market since March 1995. The company’s main risk portfolio is related to the transport sector.
In January-June 2025, PJSC Insurance Company Respect (Odessa) collected UAH 39.356 million in net premiums, which is 79.5% more than in the same period of 2024.
According to the company’s interim report published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross premiums for this period amounted to UAH 39.689 million (+73.2%). UAH 333 thousand was transferred to reinsurance (2.9 times less).
In the first two quarters of this year, the company paid out UAH 5.584 million, which is 3.7 times more than in the same period last year.
At the same time, administrative expenses amounted to UAH 269,000, which is 2.3 times higher than in January-June 2024.
The financial result from operating activities of IC “Respect” for the period under review amounted to UAH 5.415 million (2.6 times less), net profit – UAH 7.025 million (2.5 times less).
According to the NSSMC, as of the first quarter of 2025, LLC “KUAA YUG-Invest” (Closed-end Undiversified Venture Investment Fund “Industrial”) owned 67.935% of the insurer’s shares, LLC “Ulublenoe Misto” owned 9.646%, and LLC “Bereg Stroy Service 2017” owned 9.242%.
IC “Respect” has been operating in the Ukrainian market since March 1995. The company’s main risk portfolio is related to the transport sector.
Insurance Company “Respect” PrJSC (Odesa) plans to increase its authorized capital from UAH 30 million to UAH 53.7 million by increasing the nominal value of ordinary and preferred registered shares from UAH 10 to UAH 17.90 by allocating to the authorized capital part of the profit received in 2018-2023 in the amount of UAH 23.7 million.
This issue is on the agenda of the company’s shareholders meeting scheduled for May 3, according to the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
As reported, IC Respect has been operating in the Ukrainian market since March 1995. It has 21 licenses for various types of insurance. The company’s main risk portfolio is related to the transportation sector. In June 2023, Saggarco Limited (Cyprus), which owns 70.001% of MTB Bank (Chornomorsk, Odesa region), announced its intention to acquire 96.382% of the shares of PJSC Insurance Company “Respect”.
