By KYIV. Nov 21 (Interfax-Ukraine) – Insurance companies of Ukraine specializing in life insurance in January-September 2022 paid remuneration to agents in the amount of UAH 1.362 billion, which is 35.2% less than in the same period a year earlier (UAH 2.001 billion), according to the website of the National Bank of Ukraine.
It is also noted that in general, the costs associated with the conclusion and prolongation of insurance contracts for the reporting period amounted to UAH 1.389 billion, while a year earlier, UAH 2.150 billion.
In addition, life insurers reduced administrative expenses by 2.8%, to UAH 328.9 million, for the sale of services – by 30.3%, to UAH 80.8 million, for marketing and advertising – by 37.7%, to UAH 8.1 million.
The financial income of life companies for the nine months of 2022 amounted to UAH 1.311 billion, which is 39% more than for the same period in 2021. Of these, income from bonds amounted to UAH 805 million (more by 16.4%), from deposits – UAH 503.4 million (2 times more), other income – UAH 737.6 million (2.3 times more.)
During the reporting period, companies paid out UAH 616.3 million to customers, which is 5.7% more than in January-September a year earlier.
Contributions to life insurance reserves for the nine months amounted to UAH 3.683 billion. Tax on income from ordinary activities amounted to UAH 183.7 million (more by 51.6%), on gross income and life insurance activities – UAH 135.8 million (more by 45.7%).
The total net profit of life insurance companies amounted to UAH 480.6 million, while the net loss increased to UAH 146.9 million against UAH 5.3 million in January-September 2021.
