Astrum Ukraine LLC, which owns 99% of the shares of Forte Life insurance company (Kyiv), has reduced its stake to zero, according to the official information of the insurer.
It is noted that Oksana Kuleshina became the owner of 99% of the shares of the insurance company.
According to the unified state register of legal entities and individual entrepreneurs, Kuleshina is the ultimate beneficiary of Astrum Ukraine LLC.
Forte Life (formerly Insurance Union Life), registered in 2005, specializes in providing services in the field of life insurance.
Ukrainian insurance companies in January-June 2019 collected UAH 106.5 million of premiums under insurance contracts signed through resident intermediaries, which is 70.8% more compared to the same period a year earlier (UAH 62.322 million), according to the website of the National Commission for the State Regulation of the Financial Services Market. The number of contracts concluded through resident intermediaries for January-June grew by 7.3 times, to 18,937.
Remuneration for the provision of such intermediary services for the specified period grew almost 3.5-fold, to UAH 14.19 million.
According to the commission, nonresident reinsurers through brokers received UAH 347.071 million for reinsurance under 112 contracts, while in the first half of last year, UAH 630 million under 152 contracts was transferred. Payments were made in the amount of UAH 35.762 million (UAH 196.7 million in the first half of 2018). The remuneration of brokers amounted to UAH 11.360 million (a fall of 20%).
In January-June 2019, insurance companies of Ukraine collected net premiums in the amount of UAH 20.121 billion, which is 20.1% more than for the same period in 2018, the gross insurance premiums collected by insurers for the specified period amounted to UAH 27.291 billion (a 16.5% increase compared to the first half of 2018).
According to the regulator, the total number of insurance companies in Ukraine as of June 30, 2019 decreased by 42 and amounts to 249, including 26 life insurance companies.
The insurance companies of Ukraine in January-September 2018 formed insurance reserves in the amount of UAH 24.8 billion, which is 15%, or UAH 3.2 billion, more than in the same period of 2017, member of the National Commission for the State Regulation of the Financial Services Market Oleksandr Zaletov has told Interfax-Ukraine. In his opinion, the growth of insurance reserves is associated both with the general increase in the volume of insurance services to the population and enterprises, as well as with the improvement of the actuarial valuation of insurance obligations.
As of September 30, 2018, current accounts and deposits in banks in the structure of placing insurance reserves accounted for 52.8% (UAH 13.1 billion), government domestic loan bonds for 28.6% (UAH 7.1 billion), rights of claim to non-resident reinsurers for 9.3% (UAH 2.3 billion), and real estate for 4.8% (UAH 1.2 billion).
According to Zaletov, a lack of offers from the stock market led to the fact that insurers’ investments in stocks and corporate bonds amounted to less than UAH 400 million, or a mere 1.5% of insurance reserves.
The insurance companies of Ukraine in January-June 2018 collected net premiums for the amount of UAH 16.747 billion, which is 24% more than for the same period a year earlier, according to the website of the National Commission for the State Regulation of Financial Services Markets.
According to the regulator, the volume of gross insurance premiums collected by insurers for the period was UAH 23.425 billion (10.4% more).
The commission notes that an increase in gross insurance premiums was recorded for almost all types of insurance: auto insurance (KASKO, OSAGO, Green Card) by UAH 937 million, or 18.6%, life insurance by UAH 487.7 million, or 39.2%, credit insurance by UAH 442.8 million, or three times more, insurance of liability to third parties by UAH 419.7 million, or by 37.1%, insurance against accidents by UAH 316 million, or by 61%, property insurance by UAH 285.3 million, or 10%, medical insurance by UAH 263.8 million, or by 18.7%, medical costs insurance by UAH 139.6 million, or 34.7%, insurance against fire risks and risks of natural phenomena by UAH 105 million, or 5.2%.
The share of net insurance premiums in gross insurance premiums for the first half of 2018 increased by 7.8 percentage points from the same indicator of 2017 and amounted to 71.5%.
In January-June this year insurers paid UAH 5.863 billion in net insurance claim fees, which is 27% more than for the same period a year earlier. The level of net payments increased to 35% from 34.2%.
The volume of insurance premiums received by insurers with foreign capital in January-March 2018 amounted to UAH 6.783 billion, which is UAH 1.761 billion, or 35%, more than for the same period in 2017, Member of the National Commission for State Regulation of Financial Services Markets Oleksandr Zaletov has told Interfax-Ukraine. According to him, as of March 31, 2018 some 60 insurance companies with foreign capital were registered in the insurance market of Ukraine, which is 20.5% of all registered insurers (292). Of these, 49 insurance companies carry out risk types of insurance and 11 insurance companies provide life insurance services. At the same time, the share of foreign capital in the charter capital of 26 insurance companies is 100% (21 non-life and 5 life insurers).
Foreign capital in the charter capital of insurers as of March 31, 2018 amounted to UAH 12.364 billion, while a year earlier the figure stood at UAH 3.553 billion, or 28.7% of the total paid-up charter capital of insurance companies.
Insurance companies that carry out risk types of insurance made up UAH 3.1 billion of foreign capital, while life insurers had UAH 452.6 million. The largest share in total foreign capital is made up by the capital of Cyprus (45.5%), Austria (15.9%), France (4.9%), Britain (3.4%), the United States (2.9%), the Netherlands (2.2%), and Bulgaria (2%).
