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11:03
INSURANCE PREMIUM COLLECTION IN Q2, 2009 STABILIZES, SAYS STATE COMMISSION FOR FINANCIAL SERVICE MARKETS REGULATION

Kyiv, August 5 (Interfax-Ukraine) – The state commission for financial service markets regulation of Ukraine has said that insurance premium collection in Q2, 2009 stabilized.

The commission head Viktor Suslov told the press at a briefing on Tuesday, insurance premium collection in Q2, 2009 fell by 1.2%, to UAH 4.415 billion against Q1, 2009.

"Insurance premium collection on the market has stabilized as a whole, and now it is not falling so quickly as in Q1, 2009," Suslov said.

He also said that payments in claims in Q2, 2009 grew by UAH 251 million against Q1, 2009, and the insurers' assets soared by UAH 1 billion.

In addition, Suslov said that an upward trend in insurance premium collection from individuals is seen (a rise of UAH 84 million).

"This is a positive fact, individuals buy real insurance polices," he said.

Suslov said that the fall in insurance premium collection is linked with a fall on the domestic re-insurance market, which is actually a positive trend for the market.

He said that incoming re-insurance in Q2, 2009 grew from UAH 37.5 million in Q1, 2009 to UAH 94 million in Q2, 2009.

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