OREANDA-NEWS. On 31 March 2009 was announced, that in 2008, Oranta National Joint-Stock Insurance Company collected the record amount of insurance premiums, over UAH 1 billion (UAH 1010 million), which exceeds the amount of premiums in 2007 by 45% (UAH 693.6 million). This was announced today by Ms. Elena Bolotova, the Board Chair of Oranta, at the press conference of IMG holding.

To illustrate, the proceeds from hull insurance amounted to UAH 451.3 million; from compulsory civil liability insurance contacts, UAH 236.7 million; from personal lines insurance, UAH 209.6 million; from accident insurance, UAH 28.1 million; from other types of insurance, UAH 64.3 million. In 2008, Oranta concluded 5 409, 047 insurance contracts. Oranta states that its share on the market of classic insurance is above 12 % based on the amount of insurance premiums.

Last year the company settled losses to the total amount of UAH 399.5 million, which exceeds the amount of Oranta's insurance payouts in 2007 by 66 %. The company’s capital increased by 48% and made up UAH 411.1 million. The statutory fund increased four times to UAH 175 million.

The company has been the absolute market leader in compulsory civil liability insurance for several years already. According to the motor and transport insurance bureau of Ukraine, Oranta ranked first among top 10 insurers based on the number of policies issued and the amount of insurance compensations as of January 1, 2009. Oranta concluded 1 440, 492 compulsory civil liability insurance contracts, which amounted to about 21.4 % of the total number of insured transport vehicles. Oranta's share on the market of compulsory civil liability insurance is 18.4 % based on the amount of insurance premiums.

In her address to mass media, Ms. Elena Bolotova, the Board Chair of Oranta, said, "Despite the negative situation in Ukraine's economy in the end of 2008, Oranta showed successful performance results." “Our company conducted a timely inventory of business processes and took a number of measures to minimize the crises impact, which allowed us to collect over UAH 1 billion," said Ms. Bolotova.

On the basis of complete financial statement analysis for 9 months of the year 2008, the Credit-Rating independent rating agency confirmed the company’s long-term rating at the level uaA. The prognosis of the rating is stable, which speaks of the absence of prerequisites for the rating change this year.

In 2008, Oranta won two nominations of the Choice of the Year 2008 international award and contest: Property Insurance Company of the Year and Vehicle Insurance Company of the Year. The company was also acknowledged as the best employer among insurers based on the results of the Ukraine’s Best Employer contest carried out by the Ukrainian Correspondent magazine. Oranta is Ukraine’s most famous insurance company based on the rating results of the Delo newspaper and holds the first place in the rating of insurance companies stability carried out by the Expert-Rating independent rating agency.

The results of 2008 proved a successful and dynamic development of the company. The diversified structure of sales channels and the program for minimization of business expenses allow the company to reduce the negative impact of the current economic situation on its performance and to maintain its sustainability on the market.