UNIQA Insurance Company (Kyiv) in 2019 increased its net worth by 23%, to UAH 529.741 million, according to a draft decision of the company’s shareholders for a meeting scheduled for April 23.
According to the document, the company’s assets in 2019 decreased by 22.7%, to UAH 2.432 billion.
The draft decision states that the company last year posted a net profit of UAH 89 million, which is 3.5 times more than in 2018. Retained earnings for the year amounted to UAH 326.8 million. which is 34.9% more.
The charter capital has not changed and amounted to UAH 155.48 million.
Total debtor indebtedness decreased by 3.9 times, to UAH 282.7 billion, cash and cash equivalents by 2.9 times, to UAH 30.4 million.
Long-term liabilities decreased by 10%, to UAH 1.6 billion, current liabilities by 3.8 times, to UAH 300.1 million.
UNIQA Insurance Company was founded in 1994. It joined UNIQA Group Austria in 2006.
Non-banking financial group UNIQA Ukraine, which includes the insurance companies UNIQA (non-life) and UNIQA Life (life), in January-September 2018 collected insurance premiums worth UAH 2.010 billion, which is 27.1% more than in the same period a year earlier, according to a press release from the insurer.
It is also noted that the volume of UNIQA premiums for the first nine months of this year amounted to UAH 1.550 billion, which exceeds the figure of the nine months of 2017 by 23.4%.
The largest amount of premiums was recorded in KASKO insurance (UAH 536.1 million, 26.6% more compared to the same period of the previous year) and in voluntary medical insurance (UAH 282.1 million, 70.8% more).
UNIQA insurance claim fee payments in the nine months of 2018 amounted to UAH 601.8 million, which exceeds the same period in 2017 by 36.2%.
The pretax financial result was UAH 79.9 million, the net financial result was UAH 69.2 million.
The company’s insurance reserves amounted to UAH 1.930 billion, which exceeds the same period in 2017 by 161.1%. Assets taken to cover insurance reserves are 18.4% higher than the amount of insurance reserves and amount to more than UAH 2.3 billion. The actual solvency margin is UAH 462.4 million and exceeds the norm by 55.9%.
