By KYIV. Nov 16 (Interfax-Ukraine) – The insurance company Kniazha Vienna Insurance Group (Kyiv) collected UAH 1.464 billion in insurance premiums in January-September 2023, which is 68.92% more than in the same period a year earlier, according to the website of the Standard-Rating rating agency in the information on confirmation of the financial stability rating/credit rating of the insurer at the level of “uaAA+” based on the results of the specified period.
As reported on the agency’s website, during this period, receipts from individuals from the insurer increased by 63.05%, to UAH 1.04 billion, and from reinsurers by 161.74%, to UAH 2.018 million. The share of individuals in the company’s gross premiums was 71.05%, and the share of reinsurers was 0.14%.
Insurance payments sent to reinsurers for January-September 2023 compared to the same period in 2022 increased by 70.3%, to UAH 493.493 million. Thus, the participation rate of reinsurance companies in insurance premiums increased by 0.28 percentage points, to 33.71%.
Net premiums increased by 68.23%, to UAH 970.654 million, and earned premiums by 40.7%, to UAH 825.464 million.
The volume of insurance payments made by the company increased by 53.61%, to UAH 438.383 million. The level of payments decreased by 2.99 percentage points, to 29.94%.
It is noted that during the reporting period, the insurer’s activities were profitable, so the financial result from operating activities amounted to UAH 1.050 million, and net profit – UAH 65.612 million.
The company’s assets as of September 30, 2023 increased by 29.53%, to UAH 2.512 billion, equity capital by 17.12%, to UAH 466.171 million, liabilities by 32.74%, to UAH 2.046 billion, and cash and cash equivalents decreased by 56.94%, to UAH 69.553 million.
