PJSC “Ukrainian Fire Insurance Company” (UFCI) in 2024 attracted insurance payments totaling UAH 559 mln, which is 17% higher than in 2023, as reported on the website of the Rating Agency IBI-Rating in the information on confirmation of the long-term credit rating of the company at the level of “uaAA”, forecast “in development”.
According to RA data, the strategic types of insurance for the company are transport insurance (MTPL, CASCO and other motor liability) – 50% of premiums, as well as medical and health insurance (9% and 7% respectively). Channels of sales of the insurer are well diversified that promotes stable dynamics of receipts of insurance payments, RA indicated.
Last year, UPIC made insurance payments in the amount of UAH 139.8 mln, which is 7.6% less than in 2023. The company’s profit amounted to UAH 15.8 mln against UAH 22.6 mln in 2023.
It is reported that the agency for analytical research for the purpose of updating the rating of the company used materials of UPIC, in particular, financial statements for 2022-2024 and other necessary internal information, as well as data from open sources, which RA considers reliable.
RA has attributed to positive factors of the insurer’s activity a significant stock of assets, which can be represented by insurance reserves on deposits in banking institutions (in particular state-owned) with credit ratings corresponding to high investment level according to the national rating scale.
PJSC UPIC has been operating in the insurance market since 1992. The majority shareholder and the Chairman of the Supervisory Board is Alexander Mikhailov.
The insurer is a member of the Motor (Transport) Insurance Bureau of Ukraine and works with 25 risks within 18 classes of insurance.
payments to clients, PJSC UPIC, Ukrainian Fire Insurance Company
