Business news from Ukraine

Business news from Ukraine

“Arsenal Insurance” Paid Record 11.4 Mln UAH for Aston Martin

Insurance Company “Arsenal Insurance” made the largest payment under a comprehensive auto insurance policy in the company’s history—11.4 million UAH—for the total loss of a 2024 Aston Martin.

According to the company’s website, while driving on a wet road, the driver lost control of the vehicle—the car skidded and crashed into a guardrail at high speed.

“Arsenal Insurance” is a non-life insurance company with 100% Ukrainian capital. It has been operating since 2005. It holds a license that allows it to operate in all 18 classes of non-life insurance. It is also the leader in premiums collected in the comprehensive auto insurance (CASCO) market for January–June 2026.

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“Energoatom” Announces Tender for Liability Insurance

On August 19, JSC “NAEK ‘Energoatom’” announced a tender for liability insurance covering damage that may result from emergencies related to the operation of high-risk facilities

According to the Prozorro e-procurement system, the total expected cost of the services is 96,400 UAH.

Bids for participation in the tender will be accepted until August 27.

 

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Veles Insurance Company Plans to Change Its Name After Exiting Insurance Market

Insurance Company “Veles” (Odesa) plans to change its name to PJSC “Veles” and update its business activities, according to information submitted by the insurer to the disclosure system of the National Securities and Stock Market Commission (NSSMC).

According to the information, the company’s shareholders plan to consider this matter at a meeting on September 15, 2026.
The company plans to remove the following from the list of economic activities it is authorized to conduct: insurance, risk assessment, and other auxiliary activities in the field of insurance and pension provision. And to include, in particular, consulting on commercial activities and management; brokerage services in the trade of timber, construction materials, and plumbing

fixtures; brokerage services in the trade of furniture, household goods, iron and other metal products; the leasing and operation of owned or leased real estate; legal services; the activities of head offices; and consulting on commercial activities and management.
As previously reported, the National Bank of Ukraine, by a decision dated July 29, 2026, revoked the company’s license to conduct insurance activities and removed it from the State Register of Financial Institutions based on a submitted application.

Insurance Company “Veles” holds a 0.01% market share in terms of insurance premiums and technical reserves.
It was previously reported that on May 14, 2026, the general meeting of shareholders of PJSC Insurance Company “Veles” approved a resolution on the company’s exit from the market and an exit plan.

According to the company’s financial statements, for the first three months of 2026, insurance premiums totaled 1.790 million UAH, technical reserves amounted to 4.501 million UAH, and no insurance claims were paid.
Insurance Company “Veles” has been operating in the market since 1998. It is a member of the “Insurance Business” association. Its authorized capital was 39 million UAH.

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INGO Insurance Company Increased Insurance Premiums by 22.9% in First Half of Year

INGO Insurance Company (Kyiv) collected 2.934 billion UAH in gross insurance premiums for the January–June 2026 period, which is 22.9% higher than the result for the same period in 2025.

According to the company’s website, growth in the insurance business was driven by several lines of business. Gross premiums from health insurance increased by 35.3% to 664.1 million UAH, and from comprehensive auto insurance (CASCO) by 33.2% to 589.7 million UAH. In accident insurance, premiums rose by 32.2% to 102.1 million UAH. The company recorded the highest growth rates in traditional property insurance: gross premiums increased 2.4-fold to 537.3 million UAH.

The company reports that in the first half of 2026, it actually paid out 2.510 billion UAH in insurance claims to clients, which is 46.4% more than in the same period last year.

The largest volumes of accrued insurance payouts were in health and auto insurance. Under its health insurance programs, “INGO” accrued payouts totaling 386.5 million UAH for the organization and payment of medical services, examinations, and medications. Accrued payments under compulsory motor third-party liability insurance (OSCPV) totaled 328.4 million UAH, under comprehensive auto insurance (CASCO) – 272.3 million UAH, and under property insurance – 151.7 million UAH.

“We view the results of the first half of the year positively, although the volume of insurance claims grew faster than premiums. This trend is explained by several factors: portfolio expansion, an increase in the number of claims, and rising costs of medical services, auto repairs, and property restoration. It is essential for us that the company maintains its ability to service a larger portfolio and fully meet its obligations. At the same time, the business structure remains sufficiently diversified, without excessive dependence on any single type of insurance,” said Andriy Semchenko, Chairman of the Board of ING Insurance.

INGO Insurance Company was founded in 1994; the company ranks among the top three insurers in the country in terms of assets and premiums and holds licenses to provide insurance in 18 classes.
The company has the status of a significant insurer, is a member of Ukrainian and international professional associations, and operates through a network of 25 branches, five offices, and nine service centers in various regions of Ukraine.

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“Oranta” Increased Insurance Premiums by 7.3% in First Half of Year

In January–June 2026, NASK “Oranta” collected insurance premiums totaling 1.9 billion UAH, which is 7.3% more than in the same period a year earlier (1.77 billion UAH).

According to the insurer’s website, the company issued over 1.36 million insurance policies in January–June. Compared to the first half of 2025, this number increased by 8.1%.
The majority of the portfolio consisted of compulsory motor third-party liability insurance (CMTPL) policies—UAH 1.57 billion (+6.6%). The company issued over 609,000 CMTPL policies.

Premiums from accident insurance increased by 61.7% to 18.8 million UAH, and from health insurance by 51.5% to 76 million UAH. Premiums from comprehensive auto insurance (CASCO) rose by 26.5% to 52.6 million UAH. The number of health insurance policies increased by 48.2% to 254,000, and comprehensive auto insurance (CASCO) policies by 59% to 5,400. In liability insurance, the number of policies issued more than doubled to 91,800.

The company also reports that during the first six months of 2026, it made insurance payments totaling 763.4 million UAH, which is 55.1% more than during the same period in 2025.

The largest share of payouts was for compulsory motor third-party liability insurance (CMTPL)—638.4 million UAH, which is 74.7% higher than the figure for the corresponding period last year. Payments under “Green Card” policies totaled 64.2 million UAH, while comprehensive auto insurance (CASCO) payments amounted to 27.1 million UAH. Health insurance payouts rose by 87.9% to nearly 26 million UAH.

At the end of the first six months, Oranta’s assets totaled 3.86 billion UAH, a 36.3% increase compared to the same period a year earlier. Equity rose by 57.5% to 1.26 billion UAH, while insurance reserves increased by 27.3% to 2.39 billion UAH.
The company’s net income for the first half of the year was 306.1 million UAH, compared to 73.7 million UAH for the same period in 2025. A total of 230 million UAH in taxes was paid to budgets at all levels—48% more than in the first half of last year.

“The results for the first half of the year confirm that Oranta is gradually transitioning to a more diversified business model. Auto insurance remains the foundation of our portfolio, but health insurance, comprehensive auto insurance (CASCO), and other areas we have identified as priorities are making an increasingly significant contribution. It is essential for us that business growth be accompanied by the strengthening of financial stability and the company’s ability to fulfill an ever-increasing volume of obligations to our clients,” said Jacek Meizner, Chairman of the Board of NASK ORANTA.

NASK “Oranta” is the legal successor to “Ukrderzhstrakh,” founded on November 25, 1921, and has been conducting insurance operations in Ukraine for over 100 years.
The company has been a full member of the Motor Transport Insurance Bureau of Ukraine (MTIBU) since 1994 and a member of the Nuclear Insurance Pool since 2003.

The insurer’s main shareholder is the Ukrainian business group DCH.

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“Nadiina” Insurance Company Reduced Gross Insurance Premiums by 21.8%

PJSC “Insurance Company ‘Nadiina’” (Kyiv) collected gross insurance premiums totaling 14.816 million UAH in January–June 2026, which is 21.77% less than during the same period a year ago.

This is evidenced by data from the “Standard-Rating” rating agency regarding the update of the insurer’s credit rating/financial stability (reliability) rating to uaA+ on the national scale.
It is noted that premiums from individuals amounted to 0.433 million UAH, while premiums from reinsurers were nonexistent.

Insurance payments remitted to reinsurers more than doubled during the reporting period, reaching 0.764 million UAH. Consequently, the reinsurers’ share of insurance premiums increased by 3.16 percentage points to 5.16%.
The insurer’s net premiums for the first half of 2026 decreased by 24.28% compared to the same period in 2025, to 14.052 million UAH, while net earned premiums fell by 44.66%, to 10.505 million UAH.

The volume of insurance claims paid by SK “Nadiina” for January–June 2026, compared to the first half of 2025, decreased by 25.48% to 4.765 million UAH, and the claims ratio fell by 1.60 percentage points to 32.16%.
The RA reports that, based on the results of the first six months of 2026, the company’s net profit amounted to 49,000 UAH.

As of July 1, 2026, assets grew by 7.62%, to 101.126 million UAH; equity increased by 0.06%, to 81.433 million UAH, liabilities increased by 56.55%, to 19.693 million UAH, and cash and cash equivalents rose by 4.14%, to 70.435 million UAH.
The RA also notes that as of July 1, 2026, IC “Nadiina” had formed a portfolio of current financial investments totaling 15.614 million UAH, consisting entirely of government bonds.

As previously reported, Nadiina Insurance Company was founded in 2006. Agroholding 2012 LLC (Khmelnytskyi region) owns 100% of the insurer.
Agroholding 2012 LLC was established in September 2015. Its beneficiaries, through the “Oferent” venture capital fund, are Galina and Oleksandr Herega. The company’s business activities include the cultivation of grains, legumes, and oilseeds.

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