OREANDA-NEWS. March 09, 2011. PJSC "Insurance Company "Mega-Garant" in 2011 plans to increase the amount of insurance premiums up to 21,1 million UAH (in 2010 this figure was 15.4 million UAH), balance sheet profit - 2,3 times up to 3 million 124 thousand UAH. It is expected that the volume of insurance payments will increase up to 779 thousand UAH, reported the press-centre of MEGABANK.

Chairman of the Management Board of "Mega-Garant" Vladimir Starichenko reported that for the company the key indicators in 2011 will be an increase of insurance payments, an increase of range of insurers and types of insurance services, the timely and full implementation by the company obligations under emerging insurance cases as well as the significant growth of the company's profits and, hence, an increase in cash balances which is a positive factor for the formation of insurance reserves. Also, the company plans to conduct re-branding in the first half of 2011.

In 2010 "Mega-Garant" has collected 4 million 112 thousand UAH of insurance net premiums (premiums excluding funds lent and paid for reinsurance on insurance cases). Half of the of insurance premiums were collected on voluntary insurance against fire  risks and risk of natural disasters, 30.4% were in voluntary insurance for transport and 13.5% - on obligatory insurance of civil liability of owners of vehicles.

Among the major clients of the insurance company there are PJSC "MEGABANK", JSC "Harkovgaz", LLC "Harkovregiongaz", PJSC "Electromachine" (all in Kharkov), KP "Luhansk Regional "Pharmacia", LLC "Technotorg-Don", JSC "BHPP", JSC "Verbovskoe", "Vinnytsia Optical Mechanical Plant", Ltd "Trigon" as well as a number of agricultural enterprises in the regions of Ukraine.

According to the "Mega-Garant" 1 million 423 thousand 261 insurance contracts have been signed in 2010. Financial profit of 2010 was 1 million 247 thousand UAH, tax on profits - 169 thousand UAH. Retained earnings as of 31 December 2010 amounted to 17 million 761 thousand UAH. Amount of funds on the accounts of the company (including deposits) was to 10.8 million UAH that 2 million 81 thousand UAH more than in 2009. It was formed insurance reserves for the amount of 3 million 307 thousand UAH.

Reference. Insurance company "Mega-Garant" was created in 1998 in the form of CJSC (authorized capital was 230 thousand UAH). From June 2010 it was renamed in the Public Joint Stock Company. As of February 2011 the company has 16 licenses of different types of insurance risks and 5 licenses on compulsory insurance. Fifteen licenses are perpetual. The authorized capital of the company amounts to 20 million 900 thousand UAH, the maximum annual amount of collected insurance payments is 20 million 459 thousand UAH. The company's assets amount to about 100 million UAH.

Since 2004 PJSC "MEGABANK" and PJSC IC "Mega-Garant" has concluded the agreement on providing of insurance services in accordance with which the bank for and on behalf of "Mega-Garant" is entitled  to attract insurers and to enter into insurance contracts.