UKRAINE: GWP of UNIQA group for 9 months went up by 27% y-o-y

UNIQA Group's Ukrainian subsidiaries, UNIQA and UNIQA Life, generated GWP in the amount of UAH 2 billion (~EUR 60.37 million) in 3Q2018, which is 27.1% more y-o-y, as Forinsurer informed.

GWP of the market leader - UNIQA (non-life) for 3 quarters reached UAH 1.5 billion (+23.4%). At that the biggest contribution to premiums was made by Motor Hull (UAH 536.1 million, + 26.6%) and voluntary health insurance (UAH 282.1 million, + 70.8%).

Paid claims of UNIQA during the period under consideration also increased significantly and amounted to UAH 601.8 million (+36.2%). Its profit before tax amounted to UAH 79.9 million, and net profit reached UAH 69.2 million. Its actual solvency margin is UAH 462.4 million and exceeds the standard level by 55.9%. Equity of UNIQA is UAH 478.8 million.

As for the life insurer of the group - UNIQA Life, its GWP as of the end of 3Q2018 went up by 41%, to UAH 460.6 million, and paid claims amounted to UAH 121.5 million. Net profit of UNIQA Life is UAH 36.9 million. Assets of the life insurer as of 30.09.2018 increased by 6.8% y-o-y, insurance reserves amounted to UAH 690.8 million (+22.2%). Its actual solvency margin exceeds the standard level by 12.1 times. Equity of UNIQA Life is UAH 415.9 million.

Based on 1H2018 results UNIQA took the 1st place in the general market ranking with annual GWP growth rate at the level of 22.17%. UNIQA Life took the 2nd place in the life sector in terms of GWP, generated during 6 months this year.

*EUR 1 = UAH 33.1287 (as of 30.09.2018)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

UKRAINE: 63% of complaints in 2018 were about MTPL

According to the National Financial Services Committee, the number of complaints regarding insurance activities in 2018 remained almost unchanged (5381 vs 5389 in 2017). At that the major part (63%) of the complaints were about MTPL, as Forinsurer wrote.


UKRAINE: 13 insurers left the market in January-September2018

According to the National financial services committee of Ukraine, in order to remove unreliable players from the financial market, 126 organizations, including 13 insurance companies, were removed during January-September, as the member of the Committee, Aleksander ZALETOV informed.



Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.


Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.



Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.


Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.


FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.


See all