UKRAINE: net profit of AXA Insurance and AXA Life for the 1st quarter reached UAH 32 million

2 May 2019 — Marina MAGNAVAL
AXA Insurance and AXA Life, who are among the leaders of the Ukrainian market based on 2018 results, took in a net profit of UAH 32 million (~EUR 1.08 million) in the 1st quarter of 2019, based on IFRS, Forinsurer reports.

GWP growth for January-March this year for AXA Insurance amounted to 13% y-o-y. The total number of contracts increased by 16%. Motor Hull GWP increased by 17%, property by 4%, voluntary health insurance by 10%, and travel insurance by 41%. Total paid claims for 1Q2019 went up by 4% y-o-y.

As Andriy PERETYAZHKO, the new Chairman of the Board of AXA Insurance, appointed by the company's Supervisory Board on April 23 for a period of three years, noted, "we have successfully started 2019 and plan to keep the same high level throughout the year. We are optimistic about the future and we are absolutely sure that financial and strategic goals of 2019 will be fully achieved".

AXA Insurance, which ranked 2nd in terms of GWP in the market last year, is rebranding and changing its name to ARX Insurance, and AXA Life will operate under the ARX Life brand. According to Andriy PERETYAZHKO, the new name reflects the main attribute of insurance business in translation - reliability.

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