In 2008 Gross Written Premiums of Insurance Company «Universalna» totaled to UAH 342 mln2009-03-02
GWP growth by 35% in 2008, mainly driven by continued
In 2008 Universalna raised non-life GWP to UAH 342 330,5 thous. (posting 34,8% growth compared to UAH 253 998,7 thous. in 2007).
The Companys total claims paid to the clients were UAH 124 068,2 thous. (42,4% up from UAH 87 152,4 thous. in 2007).
The Company has reported UAH 137 194,1 thous. in insurance reserves (58,5% up from UAH 86 546,6 thous. in 2007). The companys insurance reserves are carried completely under IFRS.
The shareholders equity as of 01/01/09 totaled to UAH 114 800,0 thous. (compared to UAH 100 000,0 thous. as of 01/01/08).
The total assets was UAH 430 336,8 thous. in 2008 (41,5% up compared to UAH 304 224,7 thous. in 2007).
The total equity growth as of 01/01/09 totaled to UAH 232 588,3 thous. (up 57,7%
In 2008 the Companys net earned premiums increased up to UAH 257 518,5 thous. (up 49,9%
MOD insurance was the main driver of the GWP growth. Its share in the total portfolio structure increased to 25,03%
The second largest payments generating insurance segment was property insurance. The company has been witnessing growth in this segment of 60,5%
The GWP growth was also supported by payments increase of 68,5% in obligatory third-party liability insurance. It represents UAH 47 868,2 thous. in GWP compared to UAH 28 411,2 thous.
Branch network development
Universalnas strategy in 2008 was aimed at further distribution network extension, including the opening of regional claims settlement centers and improvement of the quality of services provided.
As of 01/01/2009 the branch network of OJSC Insurance Company «Universalna» accounted for over 200 PoS throughout Ukraine.