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«Universalna» extends its spheres of influence


OJSC Insurance Company «Universalna» extends its spheres of influence in the market of Ukraine and neighbouring countries. In this connection, on the general meeting of «Universlana» shareholders held in December 21, 2007 it was resolved on additional issue of shares.

According to Oleksandr Pavlenko, Director General of Insurance Company «Universalna» additional funds allow to implement in 2008 the series of plans of strategic importance for company. In particular, the initiative concerns Ukraine’s entry to the markets of neighbouring countries.

«Today we have operator called «UNIVERSALNA. Asigurări generale» S.R.L. located in Moldova. Practically, it means the beginning of activity in insurance field of Moldova. Nowadays, «Universalna» is negotiating with one of the biggest insurers of the country to further extend the activity in this market,» says Oleksands Pavlenko.

Director General of «Universalna» also pointed that negotiations are being conducted with one of Belarussian insurance companies at the current stage. «We are planning to enter into contracts with our Belarussian colleagues within the first quarter of 2008,» he added.

It is scheduled to establish the company of assets management for the 1st quarter of 2008. «The establishment of such a company will allow «Universalna» to manage not only its own reserves, but also assets of other insurers and non-governmental pension funds, to create investment funds, as well as to set up purchase of investment products through the network of branch offices,» Oleksandr Pavlenko emphasized.

Other results of general meeting of Company shareholders dated 21.12.2007

  • It was resolved to make a close (private) placement of 18 mln. of shares at market value (UAH 11 per share)
  • The decision of the Board of Directors as to participation of «Universalna» (Minutes No 01/07 dated 03.01.07) in Nuclear insurance pool was approved.
  • With a view to optimization of organizational structure it was resolved to establish Donetsk and Dnipropetrovsk regional boards.
  • Due to necessity to assure the active presence and further high-quality development of the Company’s insurance products in the east of Ukraine, taking into account the previously reached agreements, the protocol of intent to affiliate OJSC IC «Oradon» was approved.



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