Business news from Ukraine

UNIQA INCREASE INSURANCE PAYMENTS BY 25% IN UKRAINE

UNIQA and UNIQA Life insurers (Kyiv), members of the non-bank financial group UNIQA Ukraine, paid UAH 82.1 million of insurance claim fees in July 2020, which is 25% more than the amount of payments for June this year, according to a press release from UNIQA.
It is noted that under auto insurance contracts, the total amount of insurance payments in July amounted to UAH 37.4 million (46% of the total payments), of which payments for KASKO amounted to UAH 29.5 million, on OSAGO and DSAGO some UAH 7.9 million.
The total amount of payments under voluntary medical insurance contracts in July was UAH 32.7 million. The amount of payments for life insurance totaled UAH 2.8 million.
The largest sum for July was paid for the KASKO risk in the amount of UAH 1.1 million.
In July 2020, the UNIQA medical assistance processed 85,533 requests from insured clients. In July, technical assistance was contacted by 17,544 clients insured under KASKO, OSAGO, and property risks.
UNIQA Group (Austria) entered the Ukrainian market in 2006. Today its companies, namely UNIQA and UNIQA Life, headquartered in Kyiv, offer most types of risk and life insurance through a nationwide network.

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AUSTRIAN UNIQA RAISES NET WORTH IN UKRAINE BY 23%

UNIQA Insurance Company (Kyiv) in 2019 increased its net worth by 23%, to UAH 529.741 million, according to a draft decision of the company’s shareholders for a meeting scheduled for April 23.
According to the document, the company’s assets in 2019 decreased by 22.7%, to UAH 2.432 billion.
The draft decision states that the company last year posted a net profit of UAH 89 million, which is 3.5 times more than in 2018. Retained earnings for the year amounted to UAH 326.8 million. which is 34.9% more.
The charter capital has not changed and amounted to UAH 155.48 million.
Total debtor indebtedness decreased by 3.9 times, to UAH 282.7 billion, cash and cash equivalents by 2.9 times, to UAH 30.4 million.
Long-term liabilities decreased by 10%, to UAH 1.6 billion, current liabilities by 3.8 times, to UAH 300.1 million.
UNIQA Insurance Company was founded in 1994. It joined UNIQA Group Austria in 2006.

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UNIQA INCREASES PREMIUM COLLECTION IN UKRAINE BY 27%

Non-banking financial group UNIQA Ukraine, which includes the insurance companies UNIQA (non-life) and UNIQA Life (life), in January-September 2018 collected insurance premiums worth UAH 2.010 billion, which is 27.1% more than in the same period a year earlier, according to a press release from the insurer.
It is also noted that the volume of UNIQA premiums for the first nine months of this year amounted to UAH 1.550 billion, which exceeds the figure of the nine months of 2017 by 23.4%.
The largest amount of premiums was recorded in KASKO insurance (UAH 536.1 million, 26.6% more compared to the same period of the previous year) and in voluntary medical insurance (UAH 282.1 million, 70.8% more).
UNIQA insurance claim fee payments in the nine months of 2018 amounted to UAH 601.8 million, which exceeds the same period in 2017 by 36.2%.
The pretax financial result was UAH 79.9 million, the net financial result was UAH 69.2 million.
The company’s insurance reserves amounted to UAH 1.930 billion, which exceeds the same period in 2017 by 161.1%. Assets taken to cover insurance reserves are 18.4% higher than the amount of insurance reserves and amount to more than UAH 2.3 billion. The actual solvency margin is UAH 462.4 million and exceeds the norm by 55.9%.

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