According to the results of its activities in the first 9 months of 2024, INGO showed growth in almost all key indicators.
INGO Insurance Company has summarized its results for 9 months of 2024, showing growth in almost all key indicators. Collected insurance premiums amounted to UAH 2.46 billion, which is 23.5% more than in the same period last year. The result corresponds to the average growth rate of Ukrainian insurance market, which, according to NSAU experts, is 23% for the reporting period.
INGO’s Key indicators:
- Paid claims amounted to over UAH 1.08 billion.
- The company's reserves increased by 11%, reaching almost UAH 2 billion.
- Equity increased by 16%, reaching UAH 1.34 billion.
- Highly liquid assets amounted to UAH 3.02 billion, which is 3% more than last year. The company meets all regulator’s requirements, demonstrates financial stability and ability to cover risks.
- INGO fulfills its obligations to the state, having increased the amount of taxes paid to the budgets of all levels by 23% to UAH 185 million.
The company's active work with individuals is particularly noteworthy: premiums in this segment increased by 35% to UAH 735 million, which confirms the trust of customers and the effectiveness of new products. At the same time, the premiums in the corporate insurance segment increased by 19% to UAH 1.73 billion. According to the National Association of Insurers of Ukraine (NASU), INGO is a leader in this segment.
During the first 9 months of 2024, there was an increase in demand for insurance products, in particular, in terms of property and motor insurance, both the number of customers and premiums increased. Among other things, the premiums increased in the segment of CASCO insurance (+25.3%), motor third party liability insurance (+35.5%), property insurance (+47%), health insurance for those traveling abroad (+51.3%) and accident insurance (+25.7%).
During the reporting period, INGO paid out over UAH 1.08 billion in claims, which is 32% more than last year. The largest amounts were indemnified under voluntary health insurance contracts - over UAH 419 million, CASCO insurance - UAH 328 million, property insurance - UAH 273 million. Over UAH 184 million was indemnified for losses incurred by agricultural producers.
By late 2024, INGO expects a further increase in insurance premiums due to the market concentration and the introduction of new technologies. Particular attention will be paid to the digitalization of processes to improve customer service.
