UKRAINE: ARX Life — 7 years on the Ukrainian insurance market

30 July 2020 —
In July 2020, ARX Life is celebrating 7 years of its operations on the Ukrainian insurance market. The company provides life insurance services to both corporate and individual clients. During its work, ARX Life joined TOP-10 largest life insurers in the country, Forinsurer reports.

By the end of 2019, ARX Life recorded a growth rate of 89%. In the first quarter of 2020, the company ranked 6th among life insurers in terms of GWP, and from January to June 2020, the company's premiums reached UAH 128.6 million (~EUR 4.3 million*), and paid claims - UAH 12.8 million.

General director of ARX Life Vyacheslav GAVRILENKO noted that life insurance is demanded and popular insurance business in Europe, and clients in Ukraine are gradually beginning to realize that life and health insurance is no less important than property and motor liability insurance.

Vyacheslav GAVRILENKO, General director of ARX Life, said:

"During the pandemic, life and health issues are especially critical, therefore our response was quick - we created a new Antivirus product in record short time, covering the risk of hospitalization with COVID-19. We plan to create and improve other interesting insurance products, including investment ones, that will allow Ukrainians feel more confident in their future."

ARX and ARX Life are part of the International insurance holding Fairfax Financial Holdings Limited.

* for the following exchange rate:
1 EUR = 29.8677 UAH (as of 1 July 2020)