OREANDA-NEWS. November 11, 2009. Oranta's representatives traditionally participated in the International symposium on reinsurance which took place during the last week of October in Baden-Baden (Germany). At the event the company was represented by Ms. Olena Bolotova, the Chairman of the Board and Mr. Yuriy Radionov, the Reinsurance director. The Baden-Baden summits are held in this city annually since 1979. Oranta participates in the symposium since 2002.

In a course of the summit Oranta's representatives conducted a series of meetings and discussed a number of the important issues on the agenda, including prospective collaborations with the insurers, reinsurers and the brokers for the upcoming year, as well as the conditions of the future obligatory contracts. Also, a forecast for the year results was discussed during a number of the Company's presentations.

 “Unfortunately, some western reinsurers with whom the Ukrainian insurers closely cooperated in the last years can reduce their presence in our market due to the objective reasons and economic inefficiency of their temporary expenses in exchange for the volumes of the reinsurance premiums. But at the same time there are serious players emerging in the market and they are ready to begin cooperation with the developing Ukrainian insurance market,” commented Mr. Radionov.

 “Based on the results of the talks, one can make a conclusion that the company should not expect a significant increase in premiums from obligatory insurance programs in 2010 because of the absence of the large-scale natural disasters that usually occur in the U.S. and Japan in summer. Thus, reinsurers’ natural disasters losses fell to record low. The world bond markets in the bonds of which insurance and reinsurance companies actively invest money demonstrate rapid growth, which leads to profits in the insurance sector to recover quicker than it was expected half a year ago," said Oranta's reinsurance director.