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Total business volume of the Public Joint-Stock Company ‘Insurance company Leader Re’ following 9 months of 2010 remains at the level of the same per


30/11/2010

On November, 30th, 2010 RA ‘Expert-rating’ has confirmed the rating of the PJSC ‘Insurance company Leader Re’ (USREO code 32830769) at level uaAА- on national scale.

Confirming the rating at the level uaAА- РА ‘Expert-rating’ was guided by following conclusions:
1. For the 9 months of 2010 the Company obtained net profit in the amount of 34 thousand UAH, actually having finished the period with zero result. Company indemnities paid for 9 months of 2010 decreased by 33,69 % in comparison with the similar period of last year. Gross premiums remained practically at the same level, as in 2009, having reduced just on 1,43 %. Equity/assets ratio was remaining invariable, at the level of 90 %. By Agency estimations, the Company was overcapitalized.
2. On September, 10th, 2010 the extraordinary assembly of shareholders took place on which the decision was taken about cancellation of additional share issue of the Company. The shareholders plan to make a decision on additional share issue by PJSC IC ‘Leader Re’ after summarizing the financial year 2010.
3. According to the analytical service of the Agency, the Company maintains liquidity at high enough level. As of 10/1/2010 the volume of money resources on Company accounts was 3,7 m. UAH at liabilities of 5,8 m. UAH. Liquid assets covered the liabilities of the Company on 63%. High liquidity level at overcapitalization indicates the presence at the Company of the capacity to discharge obligations to clients.
For the 9 months of 2010 the Company did not succeeded in essentially increasing volumes of operations, however its activity remained break-even, and the managers ensured volume of total business at the level of 2009 results.
No losses, good liquidity and redundant capitalization allowed the Agency to maintain Company rating at the level uaAА-.

‘Expert-rating’ RA analytical service

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