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Oranta insurer increases collection of net premiums by 16% in Jan-Sept
KYIV. Oct 28 (Interfax-Ukraine) – National Insurance Company Oranta (Kyiv) in January-September 2021 collected UAH 748.480 million in net premiums, which is 16% more than in the same period in 2020.
According to the company’s report, posted in the information disclosure system of the National Securities and Stock Market Commission, its gross premiums increased over this period by 21.3%, to UAH 864.796 million. Some UAH 47.278 million was transferred to reinsurance (more by 9.7%).
Over nine months, the company paid out UAH 303.420 million, which is 26.4% more than in the same period a year earlier.
The company’s administrative expenses amounted to UAH 108.064 million (more by 36%), and sales expenses – UAH 223.651 million (more by 17.9%).
The pretax financial result amounted to UAH 24.295 million (almost three times less), the net loss was UAH 834,000.
JSC National Insurance Company Oranta is the legal successor of Ukrgosstrakh, founded on November 25, 1921. In 1993, Ukrgosstrakh was transformed into National Joint Stock Insurance Company Oranta, which was founded on the part of the state by the State Property Fund of Ukraine. In 2007, the State Property Fund sold the last state-owned block of shares to the investor.
As reported, NS-Finance LLC, which owns 24.941% of shares in Oranta insurer, has increased its stake to 49.890% of shares. The main beneficiary of the company with 99.99% voting rights is Oleksandr Yaroslavsky.
