Oranta NASK VAT : Financial stability and customer focus as the Company’s major activity trends

ORANTA continues implementing its development strategy aimed at ensuring financial stability and improvement of the quality of services rendered to customers.

Despite the unfavourable economic and political environment, in 2016 ORANTA has succeeded to considerably improve its financial stability owing to the increase of collected insurance premiums and the reasonable financial management policy.

ORANTA's financial profit over 9 months of 2016 has made up 29 million UAH, while the company's assets as of 30.09.2016 have totalled 611 million UAH. As of the end of the reporting period the company's policy reserves have been formed in the amount of 318 million UAH, and the reserve sufficiency has been confirmed by an independent certified actuary of the National Financial Services Market Commission.

The actual paying capacity reserve exceeds the normative one by 116 million UAH, enabling ORANTA to fulfil obligations to its 2 million clients in time and in full. The company's entire policy reserves and capital are represented in reliable assets the liquidity of which totally complies with liabilities.
It should be noted that ORANTA follows a conservative approach to financial management: among its partners there are only the largest state-owned banks and shareholder banks, which ensures stable revenues of financial transactions.

The company keeps expanding its presence in the retail segment. During 9 months of 2016 ORANTA collected gross insurance premiums in the amount of 385 million UAH, which is 14 % more than in the same period of the last year. At that, in the segment of domestic and international agreements it collected 26 million UAH of insurance premiums, i.e. 16 % more than in the same period of 2015.

Over 9 months of 2016 ORANTA paid insurance compensations to its clients in the total amount of 108 million UAH.
In order to improve the quality of services rendered to its clients, ORANTA introduced customer-focused services that enabled the company to reduce the period of settlement and insurance compensation payment to 10 days in the CASCO segment and to the legally established term in motor vehicle civil liability insurance, which enhanced the level of customer satisfaction. Thus, ORANTA has reasserted its leader position in the motor vehicle civil liability insurance market.

ORANTA will further reform its business processes to improve the quality of services provided to its clients and will actively participate in reformation of the insurance market as a whole.