OREANDA-NEWS. On July 13, 2007 the government financial service of Ukraine gave to the Reinsurance Company VAB Re the permanent license to realize insurance of railway transport, reported the press-centre of VAB Bank.

"The growing together of the systems to conduct business, high financial performance indicators, professionalism of managers and also the steady rate of growth of the company, require a permanent expansion of VAB RЕ activities. The new license will allow companies to extend the sphere of their activity. It is another step on the way to introducing to the insurance market of Ukraine international principles and technologies of conduct of reinsurance business and, as a result, will be instrumental in improving the quality and safety of transportations", as the Chairman of VAB RЕ Alla Voloshina remarked.

The company repeatedly got requests for quotations on this type of insurance that allows to conclude first of all about growing development of such insurances and secondly about the necessity of wide and complete reinsurance coverage on the risks of railway transport.