By KYIV. Nov 15 (Interfax-Ukraine) – PZU Ukraine Insurance Company (Kyiv) in January-September 2022 collected UAH 925.7 million in gross premiums, which is 28.9% less than in the same period of 2021, reports Standard-Rating, which updated the company’s credit/financial reliability rating on the national scale at the level of "uaAAA" based on the results of the specified period.
According to it, revenues from individuals decreased by 17.28% – to UAH 622.749 million, from reinsurers – by 57.37% to UAH 10.850 million. Thus, the share of individuals in the gross premiums of the insurer was 67.27%, and the share of reinsurers was 1.17%.
Insurance premiums sent to reinsurers for the nine months of 2022 decreased by 81.40% compared to the same period in 2021, to UAH 90.931 million. Thus, the participation rate of reinsurance companies in insurance premiums decreased by 27.72 percentage points – to 9.82%.
Net premiums increased by 2.61%, to UAH 834.797 million, earned insurance premiums – by 15.85%, to UAH 832.987 million.
The volume of payments and reimbursements amounted to UAH 428.138 million, which is 12.52% lower than the volume of reimbursements for the same period in 2021. Given the high rate of reduction in gross premiums compared to insurance payments, the level of payments increased by 8.68 percentage points – up to 46.25%.
The financial result from operating activities for the nine months of 2022 increased by 2.09 times compared to the same period last year – to UAH 109.511 million, its net profit increased by 62.69% – up to UAH 106.050 million.
As of September 30, 2022, the company’s assets decreased by 12.79% – to UAH 2.486 billion, equity increased by 3.34% – to UAH 853.013 million, liabilities decreased by 19.36% – to UAH 1.633 billion, cash and cash equivalents increased by 3.17 times – up to UAH 346.135 million.
