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16:37
ORANTA INSURER EXPECTS GETTING UAH 1 B IN PREMIUMS, UAH 100 M LOSS IN 2009

Kyiv, August 3 (Interfax-Ukraine) – OJSC Oranta insurance company (Kyiv) is expecting in 2009 to collect UAH 1 billion in insurance premiums and suffer a loss of UAH 100 million, Oranta Supervisory Council Chairman Oleh Spilka has said in an interview with the Investgazeta newspaper.

According to Spilka, the Oranta supervisory council approved such indicators.

"I think these are quite good indicators in conditions of crisis, taking into account the company's capitalization. And we are planning next year to achieve a Combined Ratio indicator of 96% and see a profit of 4% of the total volume of premiums," Spilka said.

As reported, earlier Oranta planned to collect UAH 1 billion in premiums and get a UAH 50 million profit over 2009, but taking into consideration the results of the first half of 2009, the company was forced to revise its indicators.

Spilka said that over six months of 2009 the company saw a loss of UAH 70 million.

Oranta is one of the three largest insurance companies in Ukraine in the sphere of classical insurance. Currently, the company has almost 800 branches in regional centers, districts and cities. Its agent chain consists of over 7,000 insurance agents.
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