«Insurance Company «Universalna» implements new standards of corporate governance2007-08-15
On August 14, 2007 in Lviv the extraordinary general meeting of OJSC «Insurance Company «Universalna» took place; the changes to managerial staff were approved there.
Oleksandr Pavlenko, who occupied the position of «Universalna’s» Chairman of the Board since 2002 and up till now was assigned the Director General of «Insurance Company «Universalna». Nataliya Bezbakh, the former Director General of the company, became the member of the Board. Pavlo Sheremeta was appointed the Chairman of the Board.
“Such a change in «Universalna’s» managerial staff is brought about by the constant growth of the Company’s financial indices according to its strategic objectives and obligations. Today the Company is declaring new standards of corporate governance, the main aim of which consists in absolute transparency and orientation towards fulfillment of obligations before investors, partners and clients. «Unevisralna’s» strategic objectives remain constant, i.e. consolidation of market position due to extension of branch network, realization of programs for staff education and implementation of new IT technologies,” noted Oleksandr Pavlenko.
According to Nataliya Bezbakh, "Changes to managerial staff of company” is nothing but increase in transparency and efficiency of Company’s structure according to the international publicity standards. It is of importance that for the first time the Chairman of the Board is a person having no connection to «Insurance Company «Universalna» and today among 5 members of the Board only two deals with «Universalna»,” emphasized Nataliya Bezbakh.
According to Pavlo Sheremeta, such a scheme allows to ensure more systematic and versatile approach to the company governance. “Today «Universalna» has 40% of free float shares; any other insurance company of Ukraine can boast of it. It requires the creation of up-to-date and transparent system of corporate governance. The Company possesses the great potential, which is also verified by high financial indices of the Company for the first half of 2007. However, we are adherents of setting ourselves still higher goals," commented Pavlo Sheremeta.