UKRAINE: ARX insurance group collected over UAH 2 billion in 9M

21 November 2022 —
Total GWP of insurance companies ARX (risk insurance) and ARX Life (life insurance) for 9 months of 2022 amounted to UAH 2.1 billion (~EUR 58.25 million). ARX for the reporting period collected UAH 1.96 billion and concluded 2.4 million insurance contracts with clients, which is 35% more y-o-y, Forinsurer writes.

The most significant segment in the company's portfolio is Motor Hull, which occupies 52.8% with GWP worth UAH 1.03 billion. The indicator of customer satisfaction with the company's Motor Hull loss settlement service, according to customer reviews (Transparent Customer Feedback), was the highest in the company's history - 98%.

Over UAH 365.5 million were collected from health insurance for 9 months. Property insurance saw a slight growth of 1.5%, with more than UAH 224 million collected. MTPL amounted to over UAH 161 million. Since the beginning of the war, travel insurance has also been in demand as an alternative to medical services abroad; this type of insurance demonstrated a 50% increase y-o-y, GWP exceeded UAH 52 million.

"We have already analyzed the results of the 3rd quarter, 9 months of operation of the insurance market and our company. First, we see that the market has recovered significantly in recent months and reached 80% of last year's volumes. These are much better indicators compared to many other industries at this difficult time for the economy. And this is very good for us. Of course, we need to maintain relationships with existing customers and partners, but also look for new opportunities that always exist in a changing market," said Andrey PERETIAZHKO, Chairman of the Board of ARX.

*EUR 1 = UAH 36.05 (01.10.2022)