INGO Ukraine insurance pays out UAH 258mn in claims in 2009.

By bne IntelliNews February 26, 2010
The INGO Ukraine insurance company paid out insurance claims totalling UAH 258mn in 2009. The insurance company paid out insurance claims totalling UAH 71.7mn in Q1/09, UAH 139.9mn in H1/09, UAH 203mn in the period of Jan-Sep 2009. The amount of insurance premiums that the company paid in 2009 is 47% less than the UAH 487.7mn it paid out in 2008. The INGO Ukraine insurance company received insurance premiums totalling UAH 438.4mn in 2009 (17% less than the UAH 531.1mn it received in 2008). The company's loss ratio (the ratio of the insurance claims it paid to the insurance premiums it received) was 59% in 2009. The company had an equity capital of UAH 141.9mn, insurance reserves of UAH 210.9mn, and a statutory capital of UAH 130.9mn as of January 1, 2010 . The company reported a net profit of UAH 15.1mn for 2009. INGO Ukraine is a closed joint-stock insurance company that was founded in 1994. It specializes in risk insurance. The InVest Polis closed joint-stock company ( Russia ) owns 99.99% of the shares in the INGO Ukraine insurance company.

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