The IBI-Rating agency has upgraded INGO's long-term credit rating from uaAA to uaAA+ and its financial strength rating from uaAAifr to uaAA+ifr. The outlook for both ratings has been affirmed as Stable.
The decision was made by the agency's Rating Committee on July 30, 2026, following an analysis of the company's operations and financial performance.
A uaAA+ credit rating reflects the company's very high capacity to meet its financial obligations in a timely and full manner. The uaAA+ifr financial strength rating indicates that INGO demonstrates very high financial strength compared to other financial institutions.
According to IBI-Rating, the key factors supporting the rating upgrade include INGO's strong market position, well-developed distribution channels, diversified insurance portfolio, continued growth in business volumes, adequate capitalization and liquidity, and sufficient insurance reserves.
According to the agency, during the first quarter of 2026, the company generated UAH 1.5 billion in gross written premiums, representing a 38% increase compared to the same period of the previous year. Insurance claims paid during the reporting period totaled UAH 574.6 million. As of the beginning of April 2026, INGO's total assets amounted to UAH 4.1 billion, while shareholders' equity stood at UAH 1.5 billion.
The agency also highlighted the company's balanced insurance portfolio, cooperation with international reinsurers, and participation in war risk insurance programs as additional strengths. At the same time, it identified the ongoing military hostilities, the sensitivity of earnings to macroeconomic conditions, and the specific characteristics of the insurance market's operating environment as key risk factors.
The rating upgrade reflects an independent assessment confirming the strengthening of INGO's creditworthiness and financial strength. The Stable outlook indicates that the agency does not anticipate any changes to the ratings over the next 12 months.
