UKRAINE: Total GWP of ARX and ARX Life for 2022 exceeded UAH 3 billion

15 March 2023 — Marina MAGNAVAL
Insurance companies ARX and ARX Life, which are among the top five leaders in the insurance market of Ukraine, summed up the results of 2022 and were able to achieve high profitability even during these times of maximum uncertainty.

Total GWP of ARX and ARX Life in 2022 exceeded UAH 3.03 billion (EUR 77.19 million), while paid claims amounted to UAH 1.1 billion, Forinsurer wrote. Total net profit of the two companies is UAH 559 million. At the end of 2022, ARX achieved a record combined ratio of 90%.

Before the war, only 0.5% of all insured Motor Hull events occurred abroad, and in March 2022 - almost a fifth. The amount of Motor Hull GWP exceeded UAH 1.5 billion; this segment occupies about 55% of the company's portfolio. It is noted that during the war, the level of satisfaction with loss settlement in Motor Hull is 4.8 out of 5.0, which is even higher than a year earlier.

Total MTPL GWP exceeded UAH 229.5 million, health insurance amounted to UAH 429 million, property insurance - almost UAH 315 million. And every day the company pays over UAH 5 million in insurance claims.

* 1 EUR = 39.25 UAH (31.12.2022)

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