Insurer INGO Ukraine bought by businessman Yaroslavsky

DCH Group of Oleksandr YAROSLAVSKY is acquiring 25% of insurer INGO Ukraine's shares, reports Interfax-Ukraine, aiming to gradually further expand its ownership to 100%.

DCH said in a press release that the documents to buy 25% of shares in the company have been signed. The acquisition is subjected to official approval. The future strategy of DCH Group towards the asset aims at boosting the stake in the company to 100%.

" The economy must be boosted and money must be invested in the country. Foreign investors would not come if they do not see that there is life inside, if they see that Ukrainian business is investing, not running away," businessman YAROSLAVSKY stated for the local press.

The national commission for financial service markets regulation on March 21, 2017 permitted Lovington Holdings Limited (Cyprus) to acquire 24.99% of shares in INGO Ukraine. The regulator said that the shares were directly bought by the company.

Earlier Russia-based INGO international insurance group sold all its insurance assets in Ukraine: INGO Ukraine and INGO Ukraine Life. 14 European companies bought the companies of the group in Ukraine.

According to the 1H2016 data for the Ukrainian market, INGO Ukraine raked 8th in the local non-life insurance secotr, with GWP of EUR 15.4 million and an about 2.9% market share.

Share |

Related articles

EUROINS Insurance Group to acquire Ukrainian travel insurer ERV

Bulgaria-based EUROINS Insurance Group (EIG) announced is acquiring ERV Ukraine, the travel insurance business of Germany-based ERGO, part of German global reinsurer MUNICH Re. "The two companies have signed purchase agreements. The deal is expected to be finalized after obtaining regulatory approvals".

2018-04-19

Ukraine: Winners of prestigious insurance awards 2017 were named

The champions of the Ukrainian insurance market were awarded at the XIth Edition of All-Ukrainian Competition "Insurance Company of 2017 year", organized by the Club Banker in partnership with the League of Insurance Organizations of Ukraine (LIOU) on 14 November 2017 in Kiev.

2017-11-23

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all