After reviewing the results of VIG companies in Ukraine for Q1 2010 and having the full understanding of the Ukrainian insurance market and the VIG role in it, based on the general strategy for development and activities of VIG in the Central and Eastern Europe and its experience in operations in the local national markets the Supervisory Board of Vienna Insurance Group in Ukraine have made the following resolution:

 

• VIG confirms the importance of its active economic presence at the Ukrainian insurance market, having a great growth potential, for its further activities;

 

• VIG in its activities in Ukraine as well as in any other country will share its European experience in insurance market management and single company management, targeted at effective insurance cover for the individuals, companies and state interests using the high standards of  Vienna Insurance Group;

 

• VIG in Ukraine performs its activities based on a multi-brand principle which had a positive effect in VIG activities in the Central and Eastern Europe, namely: all insurance companies – VIG Members in Ukraine (UIC, Kniazha, Globus, Jupiter) perform their activities as the independent legal entities in accordance with the active law and their Charters, providing an effective cover for their clients and partners/

 

The group firmly believes in the value and potential of its multi-brand strategy. The availability and development of single brands in the market, and at the same time the cooperation between the companies, allows the group to perform its activities effectively and serve its clients on an individual basis focused on certain needs of our customers. VIG ensures that the application of this strategy in the nearest time periods will have a great contribution to the positive development and further improvement of the professional reputation of the Group in Ukraine.

 

The Supervisory Board of Vienna Insurance Group in Ukraine

 

      Note:

      Insurance Company “Globus” Vienna Insurance Group is one of the leading financial institutions of Ukraine with great experience and powerful personnel. The Company was founded in 1994 with a central office located in Kyiv. Widely developed network of regional agencies and representations provides citizens with high-quality insurance services in all regions of Ukraine. According to the data of the rating agency “Expert Rating”, the rate of financial openness and stability of the Insurance Company “Globus” Vienna Insurance Group is the highest level “Aa”. Since 2006 Insurance Company “Globus” has become a member of international insurance group VIENNA INSURANCE GROUP (Vienna, Austria).

 

The listed Vienna Insurance Group (VIG), with its registered office in Vienna, is one of the leading insurance groups in the EEC. Apart from its home market in Austria, the Vienna Insurance Group operates in Albania, Bulgaria, Croatia, Estonia, Georgia, Germany, Hungary, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, the Ukraine and Byelorussia through insurance stakes. It also has branches in Italy and Slovenia.

 

 On the Austrian market, the Vienna Insurance Group (VIG) is represented by Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung. It also has a minority stake in Wüstenrot Versicherung.

 

We promise only that what we can do!

 

No 32/2010 of 14.06.2010