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16:10
AXA INSURANCE TO BOOST STATUTORY CAPITAL BY ALMOST 2.8 TIMES

Kyiv, July 30 (Interfax-Ukraine) – Kyiv-based AXA Insurance, part of AXA Group in Ukraine, will increase its statutory capital by almost 2.8 times, to UAH 147.6 million through an additional issue of shares, according to the company.

The decision was made at a general meeting of the company's shareholders held on July 21-24.

The company plans to issue 9.4 million common registered shares. The face value of each share is UAH 10.

At the time the decision was made, UkrSibbank (Kharkiv) owned a 49.62% stake in the company, while AXA Corporation (France) owned 50.26%.

According to the company, UkrSibbank is intending to buy 4.67 million of the additionally issued shares, and AXA Corporation 4.728 million of the shares.

AXA Group in Ukraine consists of two insurance companies – AXA Insurance (formerly VESKO) and AXA Ukraine (formerly the Ukrainian Insurance Alliance). Over 2008, AXA Group collected almost UAH 600 million in insurance premiums.

The agreement on the acquisition of VESKO and the Ukrainian Insurance Alliance by the international AXA Group was concluded in mid-November 2007.

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