On May, 30th, 2011 the Rating Agency ‘Expert Rating’ has confirmed stability rating of JSC ‘Insurance Company 611’ (Kiev, USREOU code 34241389) at the level uaA- on the national scale. Rating level uaA - means high probability of that the company will resist under the influence of adverse factors in the future.

By results of Q1 2011 following tendencies can be highlighted in the development of JSC ‘Insurance
Company 611’:
1. In Q1 2011 in comparison with the same period of 2010 the assets of the Company dropped on 6,65
%. The volume of shareholder capital of the Company for the same period also has slightly decreased (on UAH 200,6 th., or on 0,69 %) and as of the end of Q1 2011 constituted UAH 28,7 m. Despite it, in connection with reduction of total volume of assets, the indicator of capital adequacy of JSC ‘Insurance company 611’ has increased by 5,5 percentage points - from 86,16 % to 91,66 %. The Company, as before, maintains redundant level of capitalization, following the results of Q1 this level has grown, it is indirectly proving growth of JSC ‘Insurance company 611’ solvency level.
2. The volume of gross premiums collected by the Company in Q1 2011 made up UAH 1,6 m., that is on
UAH 596 th. or on 27 % less than in Q1 2010. Decrease in gross premiums, in turn, has led to reduction of Company liabilities and growth of autonomy ratio. The total volume of indemnities decreased by 22,32 % for the analyzed period. Due to that the rate of Company premiums decrease though insignificantly, but still exceeded the rate of indemnities payments volume, the disbursement ratio increased during the specified period by 0,95 percentage points - from 14,99 % to 15,94 %. In total following the results of Q1 2011, IC 611 paid out UAH 257,5 th.
3. The JSC ‘Insurance company 611’ has ended Q1 2011 with net profit at the rate of UAH 8,4 th.
According to the Agency decrease in volumes of net profit of the Company in Q1 2011 compared with the same period of 2010 occurred because of decrease in volumes of total business. Despite decrease in volumes of net profit in Q2 beginning the level of Company liquidity remained high. As of the end of Q1 2011 the volume of money funds on Company accounts was equal to UAH 3,4 m, and the level of cash coverage of total volume of Company liabilities constituted 131,34 %.

Analytical service of RA ‘Expert-Rating’

Press release