Business news from Ukraine

Universalna Insurance Company increased premium collection by 42.9%

In 2023, Universalna Insurance Company (Kyiv) collected UAH 2.005 billion in insurance premiums, which is 42.9% more than in 2022.

According to the company’s website, last year the company increased the collection of payments under hull insurance contracts by 29.2% to UAH 648.212 million, VHI – three times, to UAH 579.294 million, property insurance – by 43.9%, to UAH 104.150 million, personal insurance – by 65%, to UAH 238 million, other insurance – by 2.9 times, to UAH 133.131 million.

The company reduced the collection of payments for motor third party liability insurance to UAH 147.844 million (-0.7%), for agricultural insurance to UAH 502 thousand (down 28.4 times), for aviation insurance to UAH 119.051 million (-43.8%), and for travel insurance to UAH 34.873 million (-10.7%).

Universalna has an international shareholder base, with the European Bank for Reconstruction and Development holding 30% of the shares and Fairfax Financial Holdings Limited 70%.

Fairfax Financial Holdings Limited (Canada) is a holding company that, through its subsidiaries, is primarily engaged in accident insurance, property insurance and investment management.

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TAS Insurance Group increased premium collection by 30.6% in January

In January 2024, TAS Insurance Group attracted UAH 357.76 million in insurance premiums, which is 30.6% more than the amount of payments collected by the company during the first month of last year.

According to the company’s website, motor hull insurance premiums amounted to 15.19% of the total, or UAH 54.34 million, which is 16.4% higher than in January 2023, motor third party liability insurance premiums – 26.96%, or UAH 96.47 million (+32.3%), Green Card premiums – 25.82%, or UAH 92.3 million (+70.6%), and voluntary health insurance premiums – 21.54%, or UAH 77.07 million (+5.6%).

At the same time, UAH 10.46 million of premiums were collected under property insurance contracts, which is 54.9% more than in January last year.

Under other insurance contracts, TAS IG collected UAH 27.04 million of insurance premiums in the reporting period.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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TAS Insurance Group increased premium collection by 40.1%, payments by 96.1%

In November 2023, TAS Insurance Group (Kyiv) increased the volume of premiums collected by 40.1% to UAH 299.31 million compared to the same period in 2022, according to the group’s website.

The collected premiums under hull insurance contracts for the period amounted to UAH 71.66 million, which is 23.94% of the company’s total premiums and 16.5% higher than the corresponding figure for November 2022.

MTPL accounted for 35.81% of the premiums collected, or UAH 107.18 million of premiums, which is 31.8% more than last year, while Green Card accounted for 27.14% or UAH 81.23 million of payments (+88.3%).

In turn, under voluntary health insurance contracts, TAS IG attracted UAH 6.89 million of insurance premiums, which is 63.2% more, under property insurance contracts – UAH 6.09 million of insurance payments, under other insurance contracts – UAH 26.26 million, which is 52.4% more than last year.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

In November 2023, the company increased payments by 96.1% to UAH 145 million.

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TAS Insurance Group increased premium collection by 96.1%

In November 2023, TAS Insurance Group (Kyiv) increased the volume of premiums collected by 96.1% to UAH 145 million compared to the same period in 2022, according to the group’s website.

According to the company, hull insurance payments increased by 74% to UAH 37.54 million compared to November last year, which is 25.89% of the company’s total claims for the month.

More than a third of payments (37.18%) accounted for MOTPL, or UAH 53.92 million, which is 93.8% higher than the corresponding figure for the 11th month of 2022.

The insurer’s payments under the Green Card also increased by 2.16 times to UAH 26 million, which is equal to 17.93% of the company’s total payments in November 2023.

TAS Group’s VHI payments increased by 2.31 times to UAH 21.83 million, which amounted to 15.06% of the company’s total claims for the month.

Under property insurance contracts, the group paid UAH 2.38 million, which is 8.5 times more than in the same period last year.

The company’s claims paid under other insurance contracts amounted to UAH 3.33 million for the month.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional offices and branches.

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VIENNA INSURANCE GROUP INCREASES PREMIUM COLLECTION IN UKRAINE IN Q1

Vienna Insurance Group (VIG, Austria) in January-March 2021 increased collection of premiums by 1.6%, to EUR3.11 billion, according to the information of the group, posted on the website of Ukrainian Insurance Group, whose main shareholder is VIG.
According to the results of the first quarter, the group’s pretax profit amounted to EUR128 million, which is 5% lower than in the previous year. Net profit increased by 15%, to EUR99 million.
The combined ratio of the group was 95.2%, which is almost in line with the indicator for the same period a year earlier. The financial result amounted to EUR175.8 million, which is 29% more than in the first quarter of 2020. As of March 31, 2021, the group’s investments, including cash and cash equivalents, amounted to EUR37.1 billion.
Vienna Insurance Group (VIG) is a leading insurer in Austria, Central and Eastern Europe. The group includes about 50 companies in 25 countries of the world.
In Ukraine, VIG is represented by the following insurance companies: Ukrainian Insurance Group, Kniazha VIG, Kniazha Life VIG.

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INSURANCE COMPANY PERSHA REDUCES GROSS PREMIUM COLLECTION IN 2020

PrJSC Insurance Company Persha (Kyiv) in 2020 collected UAH 451.6 million of gross premiums, which is 12.11% less than a year earlier.
According to Expert-Rating, confirming the financial stability rating of the company at the level of “uaAA” on the national scale, when updating the rating, the agency took into account the analysis of the insurer’s activities for 2020.
At the same time, it is noted that part of insurance premiums belonging to reinsurers decreased by 9.27%, UAH 112.410 million, and their share in the structure of the company’s gross premiums increased by 0.78 percentage points, to 24.89%.
Last year, Persha carried out UAH 215.430 million of insurance payments and compensations, which is 1.98% less than in 2019. At the same time, the level of payments increased by 4.93 percentage points, to 47.7%.
The company’s net worth in 2020 increased by 9.16%, to UAH 136.580 million, and its gross liabilities increased by 7.29%, to UAH 623.970 million.
Cash and cash equivalents on the accounts of Persha as of December 31, 2020 increased by 7.58%, to UAH 318.950 million.
Based on the results of activities in 2020, the company received a net profit of UAH 7.32 million, which is 48.73% less than in 2019. At the same time, the company received loss from operating activities in the amount of UAH 7.17 million.

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