Insurance Company «Universalna» Reports First Quarter Insurance Premium Receipts in Excess of UAH 32 million2005-05-17
The Insurance Company «Universalna» ended the first quarter with insurance premiums of UAH 32.6 million, which represents a 79% rise over the same period last year. Mandatory insurance policies account for the lion's share of the company's insurance portfolio: 44.2% (UAH 14.4 million) of the total premium receipts. The company has collected UAH 12.637 million worth of insurance premiums in property insurance (38.8%), UAH 4.134 million in optional liability insurance (12.7%), and UAH 1.426 million in personal insurance (4.4%).
The insurance claims paid in the first quarter totaled UAH 9.041 million, which represents an 86.6% increase over the same period last year. In the structure of the company's first quarter insurance claims, property insurance claims account for the largest percentage (59.3%) and amount to UAH 5.359 million. The distribution of insurance claims in a breakdown by type of insurance has not changed noticeably during the first quarter. The company has paid UAH 622,000 worth of personal insurance claims (6.9%), UAH 2,995,000 worth of mandatory insurance claims (33.1%), and UAH 64,000 worth of optional liability insurance claims (0.7%).
During the first quarter of 2005 the company has augmented its insurance reserves, which totaled UAH 44.488 million as of April 1.
In the same period the company opened a new branch in Poltava and affiliated the Insurance Company «Karpaty» in the form of its Zakarpattya Regional Board. As of April 1, the company had 40 branches, 2 regional boards, and 3 offices in 23 administrative regions of Ukraine, in the Autonomous Crimean Republic, and in Hungary.