OREANDA-NEWS. December 24, 2007. OJSC Insurance Company Universalna and OJSC Insurance Company Oradon signed a protocol on taking over of Oradon Company, Universalna's press service reported.  A complex of legal and organization measures on the merger of companies, including transfer of employees from Oradon to Universalna, are planned for the 1st-3rd quarters of 2008.

According to Oleksandr Pavlenko, Director General of Universalna, the process of merger of two companies is a positive factor in the development of Ukrainian insurance industry, since it allows structuring the market for its further development.

The merger of our businesses takes place in mutual interests - we substantially increase the potential of our organization, form an integrated strong network of affiliates in key regions of Ukraine, enhance the abilities of our service departments, become more accessible. We have an essential potential to become a leader on the insurance market of Ukraine, says Oleksandr Pavlenko.

Today, insurance company Universalna carries out analysis of existing organization of Oradon structure and works over the development of the organizational structure of Donetsk regional directorate. It is planned to conduct educational trainings with employees of the directorate and structural divisions of Donetsk region at the beginning of 2008.

"For our clients such large-scale event in the first turn means an increase in professional solutions, guarantees of timely payments, high level of services and stability of the company. New technologies, actively implemented by Universalna today, now will be available in the most distant corners of Donetsk region. Having combined innovations with our almost 90-year experience, we will be able to achieve the highest level of services among insurance companies of Ukraine," notes Hryhoriy Volkodav, Chairman of Board of OJSC Insurance Company Oradon.

Common strategy of companies. market promotion is based on the active business development, corporate management and transparence, personnel high qualification level and legal training. Among the nearest plans are strengthening of positions on internal market and access to neighboring markets.

On December 21, the general meeting of shareholders of OJSC Insurance Company Universalna will approve a final decision on the conditions of accession of Oradon to Universalna.

Insurance Company Oradon was registered on September 27, 1994. The company specializes in compulsory and voluntary risk insurance. Together with a number of other companies, Oradon is a legal successor of property rights and liabilities of the former Ukrderzhstrakh.