OREANDA-NEWS. On 31 March 2009 was announced, that the Credit-Rating independent rating agency confirmed Oranta’s long-term rating at the level uaA according to the national scale: the prognosis is stable. We would like to mention that such a high rating was awarded to the company on May 19, 2006, and was confirmed on December 5, 2008.

“A borrower or an individual debt instrument with the rating uaA is characterized by high creditworthiness in comparison with other Ukrainian borrowers or evidence of debt,” the agency’s rating report notes. “The stable prognosis speaks of the absence of prerequisites for the rating change over the year.”

To perform the rating, Credit-Rating used Oranta’s complete financial reporting for the forth quarter of 2008 and for 2008 in whole, as well as internal information provided by Oranta in the course of the rating process.

According to the report prepared by Credit-Rating, the level of credit rating is supported by Oranta’s leading positions within the insurance market of Ukraine: leadership on the market of classic insurance and in the retail insurance segment. In addition, the agency states that the company has a well developed branch network, about 800 branches, which brings the company over 90% of net premiums. A considerable increase in the volume of attracted gross insurance premiums for 2008 also promotes the rating.

We would like to mention that Oranta collected the record volume of insurance premiums in 2008, UAH 1010 million, which exceeds by 45% the volume of the company’s premiums for 2007 (UAH 693.6), and concluded 5 409, 047 of insurance contracts. Oranta states that its share in the market of classic insurance is 12 % according to the rate of insurance premiums.

Last year the company settled losses to the amount of UAH 399.5 million, which exceeds the volume of Oranta’s insurance payouts for 2007 (UAH 240.1 million) by 66%. The insurance fund reached UAH 405.9 million, which exceeds the amount in 2007 by 48%. The owned capital of the company increased by 48 % and amounted to UAH 411.1 million. The statutory fund increased practically four times to UAH 175 million.