OREANDA-NEWS. On 05 March 2008 was announced, that owing to the surge of ground transport vehicles and property insurance, according to the results of 2007 the growth of gross accrued premiums of "Universalna" reached 50%.

During 2007, gross accrued premiums of "Universalna" risk company reached UAH 253,998.7 thou., which is by 49.6% more if compared to 2006 with indices equaled to 169,204.5

The total amount of the company compensation pay-outs to the client made up UAH 87,152.8 thou., that is by 56.96% higher if compared to the analogical indices in 2006 (UAH 55,525.6 thou.).

Insurance funds of the company as of January 1, 2008 made up UAH 86,546.6 thou., that is by 49.5% higher if compared to the indices fixed in accounting period of 2006 (UAH 57,903.8 thou.).

Financial indices

The total amount of company’s assets as of January 1, 2008 made up UAH 304,224.7 thou. If compared to the indices of the analogical period of 2006 (UAH 190,876.4 thou.), the company’s indices for 2007 are higher by 59.4%.

The growth of "Universalna" owned capital equaled to 35.5%. As of January 1, 2008 this index was fixed at the level of UAH 147,513.0 thou.

The company’s profit for 2007 constituted UAH 171,762.8 thou., that is by 52.4% higher if compared to 2006 (UAH 112,714.9 thou).

The company’s net profit as of January 1, 2008 made up UAH 343.7 thou.

Portfolio allocation

Comprehensive insurance remains the key product that provoked the abrupt growth of "Universalna" portfolio for the accounting period. The growth of premiums, gathered as a result of such insurance polices sale made up 92.8% if compared to the analogical period for 2006 and constituted UAH 103,188.7 thou.

The company intends to further augment the quota of motor transport insurance in the general portfolio structure, since it is in the greatest favour in the market.

The second-rate insurance product of "Universalna" insurance company that received the biggest number of gross premiums was obligatory insurance of civil liability of ground transport vehicle owners (OCL). The growth of such a type of insurance in 2007 made up 73.72 % if compared to 2006 - it is totally gathered the insurance payments to the amount of 28,411. 2 thou.

The property insurance came to be the third key type of insurance in "Universalna" for 2007. The growth of property segment insurance reached the point of 29.07%. It corresponds to UAH 43 230, 4 thou. of collected premiums if compared to UAH 33,494.8 thou, collected in 2006.

Development of branch network

During the 4th quarter of 2007 "Universalna" continued its optimization of company’s structural units. The company succeeded to strengthen significantly its role on the eastern Ukraine owing to the incorporation of OJSC "Oradon" Insurance Company, legal successor of the former Ukrderzhstrakh (Ukrainiane State Insurance).

To date the company comprises 102 branches and divisions all over Ukraine, Crimea Autonomous Republic and Kyiv.

The company’s network is still being actively developed at the moment.

Other activity

During 2007, OJSC Insurance Company "Universalna" expended the spheres of its influence in Ukrainian market and neighboring countries.

In that connection, the general meeting of OJSC Insurance Company "Universalna" stockholders held on December 21, 2007 resolved on additional emission of 18,000,000 of shares. Today the company is undergoing through the process of closed (private) placement of shares at market price (UAH 11 per share).

The general meeting of OJSC Life Insurance Company "Universalna" stockholders held on December 27, 2007 resolved on the increase in company’s statutory fund by UAH 4 mln., i.e. from UAH 11 mln to UAH 15 mln. 40 000 shares par value of UAH 100 each to the total amount of UAH 4 mln are to be issued additionally.

Extra funds shall allow the company to implement the series of strategic solutions, planned for 2008. In particular, the initiative is related to the strengthening of "Universalna" role in Ukrainian insurance market and entry to the neighbouring countries’ markets.