By KYIV. May 11 (Interfax-Ukraine) – Insurance company ARX Life (Kyiv) in January-March 2023 collected insurance premiums in the amount of UAH 73.3 million, which is 5.06% more than in the same period a year earlier.
This was reported on the website of Standard-Rating about updating the company’s credit/financial reliability rating of the insurer at the level of “uaAAA” on the national scale.
The volume of payments and reimbursements made by the insurer in the first quarter of 2023 increased by 61.75% compared to the same period in 2022, to UAH 17.961 million. Thus, the level of insurer payments increased by 8.58 percentage points – up to 24.50%.
The acquisition costs of the insurer for the first quarter of 2023 compared to the same period in 2022 decreased by 4.22%, to UAH 38.333 million.
According to the results of work for the first three months of 2023, ARX Life received net profit in the amount of UAH 15.410 million, which is 2.89 times more than the profit received in the first quarter of 2022.
As of April 1, 2023, the company’s assets increased by 4.91% – to UAH 242.225 million, equity increased by 12.87% – to UAH 135.102 million, liabilities decreased by 3.66% – to UAH 107.123 million, cash and cash equivalents decreased by 39.85% and amounted to UAH 39.819 million.
ARX Life, like ARX, is part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is one of the top ten companies in the life insurance market in Ukraine.
