Ukrainian Insurers Increase Gross Premiums by 30% yoy in 2007

Ukrainian Insurers Increase Gross Premiums by 30% yoy in 2007

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Financial results, USD mln        2006    2007  Chg, %
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Net insurance premiums         1736.6    2294    32.1
Insurance payouts                    514.7   834.3    62.1
Total assets                              4766    6396    34.2

Among the major market drivers were life insurance, up 74% yoy; OMTPL, driven by the legal enforcement, rose 78% yoy; and medical insurance, which increased 74% yoy. Alexander Viktorov: Motor insurance remained the largest (accounting for 1/2 of total insurance premiums) and most rapidly growing market segment. The only traded stocks, Universalna (SKUN: BUY) and Oranta (SORN: N/R), are both focused on these segments and consequently enjoying strong growth. Universalna increased its GPW by 50% yoy to USD 50.3 mln in 2007 while Oranta’s grew by 45% to USD 137.4 mln.