Guardian insurer more than triples premium collection in nine months
Guardian Insurance Company (Kyiv) in January-September 2018 collected UAH 71.7 million of gross insurance premiums, which is 3.4 times more than the figure for the same period in 2017, Expert-Rating agency has reported.
The agency updated the insurer's financial stability rating at uaAA according to the national scale, based on the results of an analysis of its activities for the nine months of 2018.
According to an agency press release, the share of reinsurers in gross premiums was 20.09%, which is 2.26 percentage points more than in the first nine months of 2017.
As of September 30, 2018, the amount of money on the company's accounts grew by 46.4%, to UAH 12.221 million, the insurer's assets rose by 36%, to UAH 156 million, net worth by 0.07%, to UAH 100.927 million, gross liabilities were up by almost 4 times, to UAH 55 million.
Insurance claim fee payments by the company in January-September compared with the nine months of 2017 were up by 3.8 times, to UAH 14.4 million. The level of payments amounted to 20.09%.
In the nine months of 2018, Guardian posted net profit in the amount of UAH 75,000, while in the same period in 2017 the figure was UAH 157,000. Return on sales was "minus" 3.5%, return on net worth some 0.07%.
Guardian Insurance Company has been working in the insurance market since 2007.