Universalna insurance company (Kyiv) in 2020 collected UAH 813.184 million in net insurance premiums, which is 5.5% more than in 2019, according to the website of the Standard-Rating agency.
The agency has affirmed the financial reliability/credit rating of the insurer at “uaAA +” guided by the results of 2020.
According to the report, the volume of gross premiums of the insurer in 2020 amounted to UAH 953.829 million, which is 0.44% higher than the volume of premiums in 2019. At the same time, receipts from individuals increased by 5.93%, to UAH 357.918 million, while receipts from reinsurers decreased by 43.14%, to UAH 1.668 million.
It is noted that, despite the increase in premiums from individuals and an increase in their share in gross premiums, legal entities continue to prevail in the company’s client portfolio. In particular, for the year the largest part (more than 48%) came from insurance of land transport (except for railway).
Insurance payments to reinsurers in 2020 decreased by 21.36% compared to the same period in 2019, to UAH 140.645 million, and the ratio of their participation in insurance premiums decreased by 4.08 percentage points (p.p.), to 14.75%.
Last year, Universalna insurer made insurance payments and compensations for UAH 298.370 million, which is 42.31% less than in 2019. As a result, the level of payments decreased by 23.18 p.p., to 31.28%.
The financial result of the insurer’s operating activities amounted to UAH 66.519 million versus a negative result in 2019. Net profit increased to UAH 72.077 million, which is 12.98 times higher than it was in the previous year.
The company’s assets by December 31, 2020 increased by 9.64%, to UAH 1.131 billion, equity capital by 25.44%, to UAH 355.368 million, liabilities by 3.66%, to UAH 775.508 million, and cash and cash equivalents decreased from UAH 129.549 million to UAH 73.952 million (by 42.92%).
As of the indicated date, the company formed a portfolio of bank deposits in the amount of UAH 450.208 million, and the insurer invested UAH 54.476 million in government domestic loan bonds.
As of the end of 2020, cash and cash equivalents covered 9.54% of the company’s liabilities, liquid assets covered 74.61% of liabilities, and the coverage ratio of liabilities by equity capital was 45.82%.
Universalna insurance company was founded in 1991. It specializes in providing services in the field of risk insurance. It offers services in 42 types of insurance. It has the regional network of more than 300 points of sale throughout Ukraine.
