The national rating agency IBI-Rating has affirmed two ratings for INGO Insurance Company: a long-term credit rating at uaAA level and the insurer’s financial strength rating at uaAAifr level. Both ratings carry an 'evolving' outlook, which, according to the agency, primarily reflects the challenging safety situation, economic difficulties, military risks, and overall uncertainty regarding the long-term macroeconomic outlook.
The IBI-Rating assessment evaluates both the company’s overall ability to meet its financial obligations to creditors and partners, as well as its stability in settling claims with policyholders, taking into account the specific nature of insurance operations. Together, these two ratings reflect INGO’s financial strength and its operational reliability in handling insurance indemnities.
Analysts at the agency confirm that INGO demonstrates a high level of solvency and fully complies with the National Bank of Ukraine’s standards on financial stability, reserve coverage, solvency, and risk management. The company's asset structure is dominated by highly liquid instruments and assets with controlled risk levels. At the same time, its liabilities are primarily composed of insurance contract obligations, supporting a clear and manageable risk-loading model.
IBI-Rating also highlights INGO’s effective reinsurance protection system, particularly its contractual relationships with international companies that hold high financial strength ratings. The company maintains sufficient capital reserves to cover potential losses, adheres to payment schedules, and enjoys a strong reputation among its clients. Additional factors considered include the diversification of sales channels, INGO’s continuous market presence for over 30 years, strong brand recognition, and extensive experience serving the corporate sector, including major critical infrastructure enterprises.
It is also noted that INGO continues to demonstrate growth in its operations. According to the results of the first quarter of 2025, net insurance premiums exceeded UAH 1.05 billion, while insurance indemnities totaled UAH 444.6 million. The claims ratio surpassed 42%, reflecting both the substantial pressure on the company during wartime and its continued ability to fully meet its obligations to policyholders.
The company’s portfolio continues to feature a significant share of property and motor insurance risks, while the role of health insurance, voluntary liability coverage, and programs aimed at protecting clients in high-risk areas — including zones of active hostilities — is steadily increasing. INGO also remains actively engaged in projects with international partners, particularly in the area of military insurance.
IBI-Rating’s overall assessment underscores INGO’s strong position — not only as a stable market player with sufficient financial reserves, but also as a company that consistently meets its obligations to clients while demonstrating flexibility and adaptability amid high levels of uncertainty. The company continues to invest in digital solutions, service development, and the enhancement of internal risk management processes.
