Universalna Insurance Enters Moldavian Market

According to Kommersant, Universalna Insurance (SKUN: HOLD) acquired small Moldavian insurer Ascargo and is negotiating the purchase of a major Moldavian insurance company, but the exact target was not disclosed. Universalna Insurance is the first Ukrainian insurer to operate in Moldova. One month ago it announced the acquisition of mid-size Donetsk-based Ukrainian insurer Oradon, Ukraine’s 54th largest insurer by gross premiums written.