The insurance company “Knyazha Vienna Insurance Group” (Kyiv) in January-September 2022 collected UAH 866.8 million of insurance payments, which is 10.62% more than in the same period a year earlier, according to the website of the Standard-Rating rating agency “, which confirmed the financial strength/credit rating of the company at the level of “uaAA +” for the first 9 months.
Receipts from individuals increased by 17.66% to UAH 638.029 million, and from reinsurers – by 55.13% to UAH 771 thousand. At the end of nine months of 2022, the share of individuals in the company’s gross premiums was 73.61%, and the share of reinsurers was 0.09%.
Insurance payments sent to reinsurers for 9 months of 2022 compared to the same period in 2021 increased by 39.28% to UAH 289.784 million. Thus, the coefficient of participation of reinsurance companies in insurance premiums increased by 6.88 percentage points. up to 33.43%.
Net premiums increased by 0.25% to UAH 576.970 million, while earned premiums increased by 13.50% to UAH 586.665 million.
The volume of insurance payments and indemnities for the nine months of 2022 compared to the same period in 2021 decreased by 3.46% to UAH 285.393 million. Thus, the level of payments decreased by 4.80 p.p. up to 32.93%.
The financial result from operating activities for the nine months of 2022 compared to the same period in 2021 increased by 81.15% and amounted to UAH 44.649 million, while net profit increased by 39.19% to UAH 68.087 million.
•The company’s assets as of September 30, 2022 increased by 18.40% to UAH 1.758 billion, equity increased by 17.53% to UAH 417.131 million, liabilities increased by 18.67% to UAH 1.341 billion, cash and equivalents increased 2.43 times to UAH 180.370 million.
At the same time, the RA notes that as of the reporting date, the insurer made financial investments in the amount of UAH 639.752 million, which consisted of government bonds (UAH 537.984 million), as well as deposits in banks with a high credit rating (UAH 101.768 million).
PJSC “IC “Kniazha Viena Insurance Group” is a part of the National Financial Group “Vienna Insurance Group Ukraine” (the main shareholder of which is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria). The group also includes PJSC “IC “Ukrainian Insurance Group” – 100% , PJSC “SK “Kniazha LIFE Vienna Insurance Group” – 97.8%, LLC “USG Consulting” – 50.7%, LLC “VIG Services of Ukraine” – 78.7%, LLC “Assistant Company” Ukrainian Help Service ” – 100%
