Gross Written Premiums of OJSC Insurance Company «Universalna» totaled to UAH 277,8 mln in 9M082008-11-04
During the 9M08 Universalna raised non-life GWP to UAH 277 760,7 thous. (posting 57,2% growth compared to UAH 176 719,3 thous. in 9M07).
The Companys total claims paid to the clients were UAH 92 352,1 thous. (66,13% up from UAH 55 589,8 thous. in 9M07).
The Company has reported UAH 149 496,0 thous. in insurance reserves (91,41% up from UAH 78 101,3 thous. in 9M07).
The shareholders equity as of 01/10/08 totaled to UAH 114 800,0 thous. (compared to UAH 100 000,0 thous. as of 01/10/07).
The total assets was UAH 485 557,7 thous. in 9M08 (84,48% up compared to UAH 263 202,6 thous. in 1H07).
The total equity growth as of 01/10/08 totaled to UAH 262 856,0 thous. (up 77,31%
During the 9M08 the Companys net earned premiums increased up to UAH 185 348,1 thous. (up 47,63%
Branch network development
Universalnas strategy in 9M08 was aimed at further distribution network extension. By 2008YE,
Universalna intends to open not less than 30 points of sale (mostly in district centers).
As of 01/10/2008 the branch network of IC «Universalna» accounted for 120 branches and PoS nationwide.
MOD insurance was the main driver of the GWP growth. Its share in the total portfolio structure increased to 62,64%
The second largest payments generating insurance segment was property insurance. It represents UAH 58 769,6 thous. in GWP, 92,4% up compared to 9M07.
The company has also been witnessing growth in mandatory third-party liability insurance segment of 59,8%