Universalna Insurance postpones acquisitions in Moldova and Belorussia

Universalna Insurance (SKUN: BUY) CEO Olexiy Muzychko announced yesterday that the company is backing off of plans to acquire insurance companies in Moldova and Belarus, at least until next year. The company also halted investments into Moldavian subsidiary Universala Asigurare. In January 2008 Universalna Insurance said that it expected to acquire a 51% stake in a top-5 Belarusian insurer and close to USD 6 mln for a top-tier player in Moldova.