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)

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