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Open Joint Stock Company. Insurance Company Universalna. 1. slide. Why Ukrainian Insurance Market? . Only Southern and Eastern European markets demonstrate considerable potential for growth Insurance is one of the most dynamically growing sectors of the Ukrainian economy

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Open Joint Stock Company

Insurance Company

Universalna

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Why Ukrainian Insurance Market?

  • Only Southern and Eastern European markets demonstrate considerable potential for growth

  • Insurance is one of the most dynamically growingsectors of the Ukrainian economy

  • In 2005 Gross Premiums collected from individuals increased 1.7 times compared to the previous year

  • Insurance entertains preferable taxation in Ukraine – profit from insurance operations is taxed at 3% comparing to 25% profit tax for other economic activities

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Market Overview

  • At this point of time it is difficult to correctly define the size of insurance market due to a common practice of using insurance products as an instrument for tax optimization.

  • The share of real insurance products still does not exceed 30% of the total written premiums.

  • Starting from 2005 the trend has changed and, by the end of the year, the volume of real insurance has increased

  • Real market is highly fragmented

  • TOP-5 companies collect more than 9% of the total premiums written

  • TOP-10 – 15% of the premiums written

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Leaders of Real Insurance Market, 2005*

* Data based on “Expert Ukraine”

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Market Potential

  • Motor Insurance

  • Motor TPL current penetration YoY 2005 - 20%

  • Expected car fleet market growth till 2010 – 11% CAGR

  • That will increase considerably all types of Motor Insurance

  • Property Insurance

  • Prospected fast growth of mortgage market leads to consequent development of real property and construction risks insurance development

  • Personal Insurance

  • Introduction of compulsory medical insurance and development of life insurance allows us to expect for sharp growth

  • Forecasted growth in the next 5 years: min.300%

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Company Snapshot

  • 2nd in terms of size of network among Ukrainian insurance companies

  • Gross Premiums Written in 2005 – US$ 29 mln, in the 1st half of 2006 – US$ 14.6 mln

  • Strategic positioning: retail with prime focus on providing services to individuals

  • Goal: to become Pan-Ukraine Insurance Company by expanding retail network into all regions of the country

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Key Strength:

  • Over 15 years of presence and positive history in Ukrainian insurance market

  • Independence: the company is not a captive

  • Transparent and clear shareholder structure

  • 2nd biggest retail insurer in the country

  • Strong re-insurance position and high-quality portfolio protection with key international players

  • Experienced management team both in HQ and branches

  • Nationally recognized and highly reputable brand-name

  • The first insurer which introduced ISO 9001 quality system

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Key Market Segments

Company is one of the industry leader in the following segments:

Segment Market Share

Ukrainian Green Card Insurance

Civil Liability of Motor Vehicles Owners 28%

in European countries

Motor Hull Insurance 5%

Travel Abroad Medical Insurance 20%

Motor TPL (Third Party Liability) Insurance 5%

TIR-Carnet Insurance 100%

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Financial Highlights

000’ US$

2004 2005 F2006

Gross Premiums 19,600 29,000 32,000

Equity 9,500 9,700 19,000

Insurance reserves 7,900 10,800 12,000

Net profit - 473 115 800

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Portfolio Structure

2005 2005 F2006 F2006

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Branch Network

47branches in all regions of the country

3 regional Directorates

1representative office in Budapest, Hungary

  • Company staff:

    Total – 1610

    Agents - 856

Number of average surveyors:

- 15 employees all over the country

Real Estate objects:

- 53 objects in all regions of Ukraine

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Branch Network

The Ratio of Head Office Premiums / Branches Premiums Ratio best demonstrates fast development of branch network. It is a

perfect reflection of retail strategy and a stable growth trend that Universalna entertains.

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Effectiveness of Management

The effectiveness of the management of the company is indicated by

one of the highest in the country Premiums/Employee Ratio.

Premiums per employee (in USD)

Total number of staffed employees:

2003 – 467 persons

2004 – 609 persons

2005 – 698 persons

2004 2005 Growth, %

P/E company total 19 980 38 138 92

P/E branches 9 654 21 029 118

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Client Relation

The company has built a strong relationship with its clients.

It ensures high level of loyalty and trust among our clients as

well as business partners.

It is achieved, inter alia, by high level of claims settled and paid.

Optimized Portfolio Structure and developed techniques of risk

management results in higher than industry average but lower than

TOP-10 average Ratio of Gross Premiums / Claims Settled.

2003 2004 2005

IC Universalna 22% 31% 33%

Average market 12% 19% 29.5%

Average TOP-10 24% 34% 35%

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Life Insurance Company

  • Universalna possess 100% stake of the subsidiary life insurance company

  • Life Insurance company operates under the same brand name Universalna – Life

  • Gross Premiums Written in 2005 – US$ 535 600

  • Total number of insured persons by Universalna Life – 14 528 (7.27 % of the total number of insured nationwide)

  • Total number of life insurance contracts – 9 818 (14.13% of the total concluded contracts nationwide)

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Life Insurance Market (2005)

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StrategicGoals of the company, 2006 – 2008

  • Overall Goal: to be in TOP- 5 insurance companies in Ukraine

  • Branch network position strengthening: the overall goal is for branches to have at least 75% share in Gross Premiums of the company

  • Direct agency distribution network development

  • Active development of life insurance company as a subsidiary

  • Strong protection of the portfolio by re-insurance programs

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Unique Investment Opportunities in Financial Industry

  • One of the dominant players on a highly underdeveloped insurance market with a huge potential for future development within next couple of years

  • Retail-driven business with a direct access to fastest growing segment of Ukrainian economy

  • Strong and experienced management team, positive experience of cooperation with foreign partners

  • Nationwide branch network with the offices in all the regions of Ukraine

  • Nationally recognized and highly reputable brand-name

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Thanks for

your attention…

OJSC “Insurance Company Universalna”

Tel/Fax: + 380 44 281 61 55

www.universalna.com

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