Statement in relation with Fairfax’s interest in Universalna
Insurance company “Universalna” (“Universalna”) announces that Fairfax Financial Holdings Limited (“Fairfax”) has obtained the consent of the Antimonopoly Committee of Ukraine to acquire the controlling stake in Universalna. The European Bank for Reconstruction and Development (“EBRD”) is a shareholder of Universalna since 2011 and is intending to remain as a minority shareholder alongside Fairfax.
The transaction is still subject to further documentation and other conditions, including other regulatory approvals.
No changes in the business operations and management of Universalna are expected.
Fairfax is a holding company, which through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management. More information about Fairfax can be found at www.fairfax.ca.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 69 countries as well as the EU and the EIB. More information about the EBRD can be found at www.ebrd.com/home.
Universalna is among TOP 10 non-life insurance companies in Ukraine by volume of collected gross written premiums and has an extensive regional network throughout the country. The company is one of the few insurance companies that has 10 years’ experience of IFRS audit in Big-4 international audit companies.