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Insurance group "U.B.I." has been assigned a stability rating at the level uaА according to the national scale


06/10/2011

October 6, 2011 RA "Expert-Rating" announced about assigning the financial stability rating of PJSC Insurance Group U.B.I. at the level uaA (high level of stability).

According to the results of rating research the following conclusions can be drawn:
1. PJSC Insurance Group U.B.I. is a small size fast growing insurance company with annual volume of gross premiums up to UAH 20m. The Agency assessed the Insurer share in the Ukrainian insurance market as 0.2 %. The agency admits that at the end of 2011 the share of PJSC Insurance group U.B.I. in certain types of insurance may vary at the level of 1%.
2. The level of per insurance type diversification of PJSC Insurance Group U.B.I. was rated as good, the level of customer diversification – as close to satisfactory. The Agency believes that the small scale of business and partial focus on the corporate segment can at any time both negatively and positively impact the per type and the per customer diversification of insurer's portfolio. All this, together with well-structured insurance portfolio of the Company (motor insurance types take up to 15%) allows not only to fully comply with the undertaken obligations for timely payment of insurance compensation to customers, but also shows potential for further development of Insurer business.
3. The Agency positively estimates the quality of PJSC Insurance Group U.B.I. assets and emphasizes that the insurer complies with basic regulatory requirements for asset allocation. The company maintains low level of stock portfolio diversification, but has a well-diversified and profitable deposit portfolio. After improvement of assets diversification the Agency may raise insurer financial stability rating.
4. Foreign shareholders control 85% of stock capital of the Company and, in the opinion of the Agency, can provide high level of external support to PJSC Insurance Group U.B.I. The Agency emphasizes on that the shareholders in Q1 2011 had already allocated $ 0.5 mln for business development of the insurer. The Agency identifies the level of external support of the insurer by shareholders as stably high one.

See full substantiation of rating in the rating report. The report is available for review on Web-site of RA
"Expert-Rating"

Rating report of PJSC Insurance Group U.B.I. (english version) - 06.10.2011 

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