By KYIV. Nov 1 (Interfax-Ukraine) – Double liability company ViDi-Insurance (Kyiv) in January-September 2022 collected gross insurance premiums in the amount of UAH 156.5 million, which is 33.23% less than in the same period a year earlier, Standard-Rating agency reported in the material on updating the company’s credit rating/rating of financial resilience of the insurer on the national scale at the level of "uaAA."
Receipts from individuals of the insurance company fell by 33.03%, to UAH 136.830 million, and there were no receipts from reinsurers in the period under review. Thus, individuals continue dominating in the insurer’s client portfolio, as evidenced by their high share in gross premiums, which amounted to 87.46%.
Insurance payments sent to reinsurers in January-September 2022 dropped by 39.1% compared to the same period in 2021, to UAH 2.090 million. Thus, the coefficient of participation of reinsurers in insurance premiums decreased to 1.34%.
Net premiums surged by 33.14% to UAH 154.360 million, while earned premiums fell by 9.69% to UAH 189.416 million.
The volume of payments made by the insurer in January-September 2022 decreased by 16.39% compared to the same period in 2021, to UAH 77.889 million. As a result of the large rate of decline in gross premiums, the level of payments increased by 10.03 percentage points to 49.79%.
Profit from operating activities grew by 2.45 times, to UAH 49.44 million, and net profit by 2.75 times, to UAH 43.109 million.
As of September 30, 2022, the company’s assets rose by 5.04%, to UAH 230.559 million, equity capital showed an increase of 64.93%, to UAH 109.509 million. Liabilities dropped by 20.94% to UAH 121.05 million, cash and cash equivalents narrowed by 75.75% to UAH 24.885 million.
The rating agency also said that as of the reporting date, ViDi-Insurance had a portfolio of investments in government bonds in the amount of UAH 30.455 million, as well as a portfolio of deposits in banks with a high credit rating in the amount of UAH 89.299 million.
ViDi-Insurance has been operating in the insurance market since 2007. The main specialization is vehicle insurance.
