Insurance

Credo Classic was successfully sold to European strategic investor UNIQA Group; one of the largest Austrian insurance companies.

• Closed Joint Stock Insurance Company “CREDO CLASSIC” was founded on February 10, 1994. It is present in all sectors of nonlife insurance, and is a member of UNIQA Group (Austria).
• Insurance Company Credo Classic is a winner of the National Award “Ukrainian Financial Olympus” in the category of “Classic Insurance” for great achievements in the classic insurance market.
• Currently Credo Classic consists of 25 regional directorates, 122 offices selling insurance policies and 308 insurance agents.

According to the results of the first two quarters of 2009 the volume of insurance premiums has increased by 60,1% in comparison to the same period in 2008 and amounts to 189,8 million UAH.

• As of the 1st of July 2009, the company has accumulated reserves in the amount of more than 213.8 million UAH, which is 76% more than on the same date last year. The actual reserve of financial solvency is higher than the normal rate by 26.3% and allows the company to fulfill its obligations to its clients in full.

During the period January–June 2009 Credo-Classic has concluded 183,000 insurance contracts.

• The total volume of paid insurance indemnities came to 69.4 million UAH.
• The regional network of the company has successfully achieved planned targets, increasing premium volumes by 73.2% compared to the same period last year. The company has widened its regional presence during the 2nd Quarter of 2009, and opened a new Sales Service Centers.