OREANDA-NEWS. January 12, 2011. A general meeting of shareholders Oranta has been conducted at Puscha-Voditsa near Kiev. Traditionally, the event was attended by many representatives of the national media, thus the organizers again confirmed the company's strict adherence to the chosen strategy of the transparency leadership at the insurance market.

The following decisions were taken in course of the meeting by the shareholders of Oranta: the approval of the report of the Oranta's Board about the results of the financial operations of the Company in 2009; the approval of the report and findings of the Audit Commission on financial-economic activity of Oranta in 2009; the approval of the annual financial statements for the last year in the balance, the income statement, the statement of cash flows, the statement of shareholders' equity and the audit report of the independent auditor of the financial statements for the year 2009. " To recognize the work of the Board of Oranta in 2009 as satisfactory " - summed up the owners Oranta.

It is worth mentioning that in 2009 the recession at the country's insurance market has reached its peak, thus the total insurance premiums of the classical insurance market have declined by 20% compared with 2008. It is obvious that such negative dynamics couldn't have influenced the core company of the insurance market, thus Oranta completed the year of 2009 with a projected loss of nearly 237 million hryvnia.

In course of the meeting the shareholders of Oranta have reached the agreement to cover the net loss for 2009 of UAH 236 million 972 thousand at the expense of the future profits. Oranta's management prognoses to finish 2010 already with a profit of 8 million hryvnia, and the plan for 2011 is UAH 11.5 million.

The shareholders of Oranta also approved the personnel changes in the Company's Board. Mr. Sergey VOLKOV was elected as a Board member. Mr. Volkov has been acting as a member of the Oranta's Board on the financial matters since September 2010. Previous to this appointment Mr. Volkov occupied senior financial positions with the large Ukrainian and foreign companies, including JSC "Industrial Export Bank", "Ernst & Young Ukraine, Interpipe, East One.

"The task of Oranta is to become stronger, to develop and support its leadership positions, to initiate positive changes at the insurance market of Ukraine. That's what we are good at and will continue to develop"- said in his closing remarks to the meeting the Chairman of the Supervisory Board of Oranta, Mr. Oleg Spilka.