By KYIV. Nov 14 (Interfax-Ukraine) – European Insurance Alliance (Kyiv) collected UAH 230.954 million in gross premiums in January-September 2023, which was 45.07% higher than the volume of premiums for the same period in 2022.
The report of Standard-Rating agency about updating the financial stability/credit rating of the company for the nine months of 2023 on the national scale at the “uaAA” level indicates that receipts from individuals increased by 47.65% – to UAH 58.613 million, from reinsurers decreased by 51% – to UAH 418,000.
Thus, based on the results of this period, legal entities continue to predominate in the company’s client portfolio.
In addition, insurance premiums sent to reinsurers in January-September increased 2.5 times – to UAH 51.4 million, net premiums – by 28.9%, to UAH 179.5 million.
According to rating agency data, over the three quarters of the year, the company’s payments increased by 36.3% – to UAH 168 million.
In the nine months of 2023, the insurer’s net profit amounted to UAH 1.610 million.
Its capitalization level as of the beginning of the fourth quarter was 56.09%, 49.35% of liabilities were covered by cash and cash equivalents.
In addition, by October 1, 2023, the company made current financial investments in the amount of UAH 4.003 million, which consisted entirely of government bonds. The presence of such investments had a positive effect on the insurer’s provision with liquid assets, which in total covered 51.99% of its liabilities.
PrJSC European Insurance Alliance has been operating in the Ukrainian insurance market since 1994. It is a member of the audit commission of the MTIBU, a participant in the agreement on direct settlement of losses under compulsory insurance of civil liability of land vehicle owners and a member of the Council of the Nuclear Insurance Pool of Ukraine.
The company provides 30 types of voluntary and compulsory insurance, including property, car, liability and personal insurance.
