The Ukrainian companies of the Uniqa Group Austria have reported that their premium volume for the year 2007 increased by more than 37% to E37 million over the year 2006.

Uniqa has already acquired 26% of the property insurer Credo-Classic in 2006, taking over significant management and controlling duties at that time. In the meantime, the Credo Classic holding has been expanded to over 60%, the integration into the Uniqa Group has advanced and extensive sections of the product range have been modernized in the course of an intensive exchange of know-how.

A separate life insurance company, Uniqa Life, was also founded in 2007 and began operations in autumn.

According to Credo-Classic, the above-average growth over 2006 proves that the modernization of the product range met the needs of customers and that they are on the right path with the restructuring measures initiated and expansion of their sales channels.

Yuriy Yefimov, CEO of Credo-Classic, said: In the coming months, we would like to concentrate above all on intensifying the cooperation with Raiffeisen Bank Aval and the ‘preferred partnership’ that unites Uniqa and Raiffeisen in order to strengthen this relationship in the Ukraine as well.