Establishment and development history

The story of Universalna Insurance Company started 16 years ago. The Company accumulated the experience and resources of such famous representatives of the Ukrainian insurance market as OJSIC Teren and Podillya Insurance Center. After the companies’ merge and a number of strategic agreements of merge Universalna Company became the right successor to Karpaty IC (Uzhhorod), Arta IC (Ternopil), and Salamandra-Desna CJSC (Chernihiv).

Strategic development events

2003

• UNIVERSALNA entered the top 20 most powerful Ukrainian insurance companies (source: The League of Insurance Organizations of Ukraine)
• The Company took the 10 place in the TOP-100 rating of the Investgazeta (listing the most dynamic companies of Ukraine in terms of insurance payments growth dynamics).
• The Company has accepted new quality standards, established and started to actively develop rendering of associated services, i.e., Assistance center (24-hours a day help desk) and an average surveyors network. Insurance shops were opened round the country offering standard insurance products.
• The company established Training center which task is to raise the employees’ qualification, contribute to improvement of the quality of services, and provide outreach activities and classes for the company workers in order to familiarize them with new insurance products.

2004

• The Company acquire one third of the total Green Card market of Ukraine (32.3 per cent).
• It became the leader among the insurance companies in mandatory insurance of car owners' civil liability.
• Universalna was the first among the insurers of Ukraine to gain the conformity certificate of quality standards management system ISO 9001:2000

2005

• Universalna becomes the partner of the Association of the international carriers of Ukraine and the only national insurer in the TIR-Carnet system – the International transportation books.
  From now on the Company represents the Ukrainian automobile insurance in Europe, and all Ukrainian drivers working in international transportation under TIR Carnet cooperate with Universalna.

2006

• Universalna was the fist among the Ukrainian insurers to carry out private placement of shares at western investment funds and is the only Ukrainian insurance company listing a number of western portfolio investors among its shareholders.
• Universalna becomes the first insurance company on the First Stock Trading System list.
• According to the annual results Universalna is the 1st among the national insurers in terms of the range of payments among top-10 companies nominating in the Green Card category (‘Insurance business’ No.1 (25) 2007).
• 2nd place in the list of payments amount among the top-20 companies nominating in the ‘Compulsory Insurance’ category (Insurance Payment National Club) according to 2005 results.

2007

• By results of the prestigious International competition «MasterCard Bank of the Year» Universalna Insurance OJSC has been elected the «Insurance Company of 2007»
• Successful organization of 3 private share packages placements which means placing 40 per cent of the Company’s share capital in the hands of institutional investors.
• Universalna Insurance OJSC became a laureate of the annual All-Ukrainian event «Leader of Goods and Services of Ukraine» held under the auspices of the President of Ukraine, and is awarded a prize «For a Significant Contribution in the State Economic Growth».
• The Company takes the 2^nd place in «Ukrainian Tourism» issue’s rating covering the number of agreements signed in 2007 dealing with complex insurance of travellers abroad and in Ukraine.
• International auditing company Deloitte Touche Tohmatsu conducted the audit of Universalna’s balance according to the International Financial Reporting Standards (IFRS) as of 31.12.2006. The Auditor acknowledged the Company’s balance currency in the amount UAH 197.163 million.

Credit rating history

Key company’s achievements as of 2008

Moody’s Investors Service International rating agency announced of the initial awarding Universalna Insurance OJSC with Insurer’s financial stability rating according to the global scale at the level of B3. Rating forecast — «constant».

«Assets Management Company Universalna» CJSC Has been established to enable management of its own reserves, assets of other insurers, non-governmental pension funds, establishment of investment funds, and arrangement of investment products sale though the branch network.

The merge process involves ’Insurance Company «Oradon» OJSC — the legal successor of rights and liabilities of the former Ukrderzhstrakh.

Complex measures are taken to further movement of the Company.