UKRAINE: 78% of all ARX claims were paid to individuals for the first three months of 2020

13 May 2020 — Marina MAGNAVAL
GWP of ARX company for 1Q2020 increased by 19% y-o-y and reached about UAH 626 million (~EUR 20.7 million). The portfolio was dominated by motor insurance (49%), health insurance (23%) and property insurance (15%), Forinsurer reports.

At the same time, the insurer's paid claims amounted to over UAH 265 million, which means an increase by 10% y-o-y. The largest part (UAH 206 million) was paid to individuals. Experts note the highest level of trust of the company's clients.

When looking back, for 8 consecutive years, ARX has been leading the local market in terms of premiums received from individuals. Moreover, the company has been leading in Motor Hull for 11 years in a row. The rate of customer satisfaction with loss settlement has been maintained by ARX at 92% for 5 years. In 2019, ARX was also the leader on the Ukrainian market in terms of GWP and net paid claims.

Andrey PERETYAZHKO, Chairman of the Board of ARX, stated:

"Despite the difficult conditions in which the business is working right now, we successfully completed the first quarter. Our company transferred all its services to remote operating, many products can be purchased online. ARX made such a transition quite easily because the company, thanks to high corporate standards, was always ready for possible crises, had appropriate plans for different scenarios, like mass unrest, natural disasters, or pandemic. Our employees do everything possible so that our clients and partners do not feel any inconvenience in the current situation. We continue to fulfill all our obligations to clients, keeping the first place on the market in terms of paid claims."

*EUR 1 = UAH 30.2564 (1 April 2020, National Bank of Ukraine)

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