OREANDA-NEWS. October 27, 2010. It was decided at the extraordinary General Shareholders Meeting of the INGO Ukraine joint-stock insurance company, Ingosstrakh's affiliate, INGO Group member, to increase the amount of the authorized capital for improving the paying capacity of the insurer. The authorized capital will increase by 30,200,120 hryvnas by means of increasing the amount of shares through extra payments. 31,600 ordinary registered shares for the total amount of more than 30 million hryvnas will be placed among the shareholders of the company. Thus, the authorized capital of the company will be 161,076,545 hryvnas.

The increase of the INGO Ukraine joint-stock insurance company authorized capital is intended to strengthen the company’s financial standing and increase the amount of insurance operations. According to Tatiana Kaigorodova, Ingosstrakh Direct Investments Department director, INGO Ukraine joint-stock insurance company managed not only to keep its position among the market leaders in terms of collection of insurance premiums during the hard times of the past two years, but they also met the main task to assure efficient core business operations as prescribed by the shareholders. Decision to increase the authorized capital of INGO Ukraine joint-stock insurance company demonstrates the shareholders’ confidence in the future of Ukraine’s insurance market and their readiness to invest funds in the affiliate's development to support its ambitious plans.

INGO Ukraine joint-stock insurance company:

INGO Ukraine joint-stock insurance company has a nineteen-years’ experience of operations in the market. Being a stable leader in terms of payment of insurance compensations,   the company ranks among the top insurance organizations of Ukraine in the amount of insurance premiums and net worth. The company enjoys  25 licenses for different types of compulsory and voluntary insurance, provides insurance services to corporate and retail clients. They are in possession of 26 branches and over 100 offices for servicing clients all over the country. More than 450 employees of the company work for the clients in all the regions of Ukraine.

As of June 30, 2010:

Authorized fund of the company: 130.9 mln hryvnas;

Insurance premiums:  205.3 mln hryvnas;

Insurance payments:  96.2 mln hryvnas;

Technical reserves: 321.1 mln hryvnas.