OREANDA-NEWS. On August 01, 2007 the companies VAB Life and VAB Asset Management concluded an agreement on the management of insurance assets, reported the press-centre of VAB.

According to the General Director of VAB Asset Management, Tat'yana Popova, such agreements are not done by other Ukrainian private pension funds and institutional investors.

The need for an asset management agreement is given by the specifics of the investment of life insurance companies, which always operate out of a positive cash flow. This results in an index of profitability, which in accordance to international practice is a basic indicator on the rating of the company.

Taking into account middle- and long-term economic tendencies, the investment in the stock market becomes a source profitable investment in comparison to traditional investments, such as deposits and promissory notes. The portfolio is managed by security market specialists, who continuously evaluate the risks and gains.
 
As a company VAB Life actively develops the considerable growth in volume of insurance premiums, which make up now more than 3,6 million UAH. The level of investment profit, allows VAB Life, together with VAB Asset Management, to increase the volume of asset management so that now the rating of VAB life is twice as high as the average index of profitableness of life companies. "This collaboration between VAB Life and VAB Asset Managemet will strengthen the position of VAB Life considerably and will be instrumental in attracting new clients" the Chairman of VAB Life Natalia Derevyanko proudly explains.

Reference data
VAB Life works in the financial market of Ukraine since 2004 and from October 2006 it is a member of the universal finance VAB Group.

Among the shareholders of VAB Life is the international holding of TBIH Financial Services Group NV (through Ukraine Pension and Insurance Holding B.V.) and VAB Bank.

VAB Life offers its clients accumulative, pension, risk and credit insurance. On the 1st of January 2007 the assets of the company amounted to 24 109 000 UAH, insurance provisions are 2 806 000 UAH, amount of received insurance payments are 2 211 000 UAH, the volume of insurance payments is 286 000 UAH and the chartered fund is 21 500 000 UAH.

VAB Asset Management was founded in July 2006. Since October 2006 it has been a member of the universal finance VAB Group. VAB Asset Management works in the equity market and investment and is a member of the Ukrainian Association of Investment Business.

The total amount of asset funds as of 01.04.2007 is 4 291 477 UAH.