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Insurance Company «Universalna» Reports First Quarter Insurance Premium Receipts in Excess of UAH 32 million

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.

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