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Universalna insurer reduces gross premiums by 20.6%, payments by 15.2% in H1 2022
KYIV. Aug 11 (Interfax-Ukraine) – Universalna Insurance Company (Kyiv) in January-June 2022 collected UAH 474.7 million in gross insurance premiums, which is 20.6% lower than in the same period last year, according to the website of the Standard Rating agency.
At the same time, it is indicated that the agency confirmed the credit/financial reliability rating of Universalna at the level of "uaААА" on the national scale based on the analysis of work for the specified period.
According to the published data, income from individuals for the six months increased by 11.23% – up to UAH 234.422 million, from reinsurers – decreased by 62.53%, to UAH 486,000. Despite the increase in premiums from individuals, legal entities dominate the company’s client portfolio. The largest share of premiums (more than 40%) came from voluntary insurance of land transport (except for railway).
Insurance premiums sent to reinsurers for the first half of 2022 compared to the first half of 2021 decreased by 74.32%, to UAH 34.229 million. The coefficient of their participation decreased by 15.08 p.p. – to 7.21%.
The insurer’s net premiums decreased by 5.21%, to UAH 440.608 million, while earned premiums showed an increase of 16.44%, to UAH 532.205 million.
The volume of insurance payments from Universalna for the first half of 2022 decreased by 15.19%, to UAH 154.688 million. The level of payments increased by 2.08 p.p. – to 32.58%.
According to the results of six months of 2022, the financial result from operating activities amounted to UAH 84.709 million, which is 4.2 times higher than last year’s figure, the insurer’s net profit increased 3.82 times, to UAH 64.710 million.
As of July 1, 2022, the company’s assets decreased by 3.69% – to UAH 1.275 billion, equity increased by 16.21% – to UAH 463.86 million, liabilities decreased by 12.28% – to UAH 811.485 million, cash and their equivalents increased by 66.67% – to UAH 157.546 million.
As of the indicated date, the company formed a portfolio of bank deposits in the amount of UAH 423.277 million, and UAH 113.199 million were invested in government bonds.
