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13.07.07 VAB Re obtains a new license
The government financial service of Ukraine gave to the Reinsurance Company VAB Re the permanent license to realize insurance of railway transport. As the Chairman of the company Alla Voloshina reported on the 13th of July.
«The growing together of the systems to conduct business, high financial performance indicators, professionalism of managers and also the steady rate of growth of the company, require a permanent expansion of VAB RÅ activities. The new license will allow companies to extend the sphere of their activity. It is another step on the way to introducing to the insurance market of Ukraine international principles and technologies of conduct of reinsurance business and, as a result, will be instrumental in improving the quality and safety of transportations», as the Chairman of VAB RÅ Alla Voloshina remarked.
The company repeatedly got requests for quotations on this type of insurance that allows to conclude first of all about growing development of such insurances and secondly about the necessity of wide and complete reinsurance coverage on the risks of railway transport.
Reference dataVAB RÅ was founded in April 2004. Since October 2006 it is a member of the universal finance VAB Group.
The company offers re-insurance for corporate entities. Until the 01.04.2007 VAB RÅ has signed reinsurance premiums for the amount of UAH 6 516 000 and paid more than 3 132 000 UAH.
The chartered fund of VAB RÅ is 50 million UAH and the technical provisions 10 554 000 UAH.
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