In January-September 2024, PJSC “Ukrainian Agrarian Insurance Company” (UASC, Kyiv) collected UAH 9.643 million of gross premiums, which is 46.02% less than in the same period last year.
This was reported by the rating agency Standard-Rating, which confirmed the company’s financial strength rating at the level of uaAA on the national scale.
According to the report on the RA website, in particular, revenues from individuals increased by 14.44% to UAH 0.206 million, and there were no premiums from reinsurers in the period under review. Thus, according to the results of nine months of 2024, taking into account the share of individuals in gross premiums at 2.14%, legal entities prevailed in the insurer’s client portfolio.
Insurance payments sent to reinsurers for the three quarters of 2024 decreased by 57.52% compared to the same period in 2023 – to UAH 3,650 million, and the reinsurer participation ratio in insurance premiums decreased by 10.25 percentage points to 37.85%.
In the analyzed period, the company’s net written premiums decreased by 35.36% to UAH 5.993 million, and net earned premiums decreased by 22.57% to UAH 8.161 million.
In the first nine months of 2024, the company paid UAH 4.528 million in insurance claims and reimbursements to its clients, which is 64.00% more than in the same period of 2023. The level of payments in the period under review increased by 31.50 percentage points to 46.96%.
In the first nine months of 2024, the financial result from operating activities amounted to UAH 6.992 million (compared to an operating loss in the first nine months of 2023), and net profit increased 8.35 times to UAH 9.182 million in the same period of 2023.
As of November 1, 2024, the company’s assets decreased by 1.56% to UAH 80.473 million, equity showed an increase of 6.87% to UAH 68.314 million, liabilities decreased by 31.80% to UAH 12.159 million, cash and cash equivalents decreased by 31.56% to UAH 14.334 million.
RA also informs that as of the reporting date, UASC has formed a portfolio of current financial investments in the amount of UAH 63.462 million, which consisted of investments in government bonds.
IC “Ukrainian Agrarian Insurance Company” (formerly IC “Salamandra-Dnipro”) has been operating in the country’s market since 1995.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, 84.750% of UASC’s authorized capital is owned by Dobrobut Agrofirm, Astarta-Kyiv LLC holds 5.5%, and Poltavazernoprodukt Investment and Industrial Company LLC holds 9.75%.
