Universalna Insurance's GPW drop 39.2% yoy in 1Q09

Universalna Insurance (SKUN) decreased gross premiums written by 39.2% yoy in 1Q09 to UAH 54.4 mln. The company said its total claims paid to clients also dropped 12.1% yoy to UAH 26.4 mln as a result of a new underwriting policy. The company’s net earned premiums came to UAH 57.9 mln, down 8.1% yoy. The company said that as of April 1, its total equity equaled UAH 224.6 mln (down 3.5% yoy) and assets UAH 461.4 mln (up 7.2% yoy). Universalna reported that its share of CASCO in its total portfolio dropped to 26% from 38% in 1Q08. On the other side, the insurer said it increased premiums generated by green card and personal insurance by 14.7% yoy and 24.0% yoy, respectively.