CV CLOSED JOINT STOCK COMPANY
DATE OF REGISTRATION
Registered on 17.09.2003 (The Act on governmental registration of the legal entity №АОО №595917 from 17.09.2003). Member of Stolytsya Corporation
COMPANY SHAREHOLDERS
- “Creative Studio “VISAK”, small private company (62% in equity capital);
- “Trust Kyivmiskbud-1”, Closed Joint Stock Company (8 % in equity capital);
- “Kyivmiskbud-1”, Closed Joint Stock Company (30 % in equity capital);
STATUTORY FUND - 14 120,6 thous.UAH
MANAGEMENT STRUCTURE - Management structure of the Company: Governing body the General Meeting of the Shareholders (hereinafter, the General Meeting); the Supervisory Board; The Board of the Insurance Company led by the Head of the Board (hereinafter, the Board) and the Audit Commission. The highest governing body of the Company is the General Meeting of the Shareholders
NUMBER OF THE COMPANY PERSONNEL - 35 persons
COMPANY MISSION- protection of property interests of the national companies, well-being and health of Ukrainian people by way of providing full range of services in the areas of voluntary insurance and improvement of standards of the local insurance culture.
In six years of operation in the local insurance and financial market the Company has gained the reputation of a reliable insurance partner that practices advanced and flexible approaches in relations with customers and during this period has shaped itself as the full-service insurance company committed to protecting health and well-being of Ukrainian people and the property interests of national enterprises by offering them a full range of insurance services, and that in its turn enhances the standards of the local insurance culture. The main task facing the Company today is to increase its share in the local insurance market by way of strengthening its positions in the corporate segment simultaneously accelerating its growth in insurance retail sector.
„IC „Stolytsya” CJSC is the Honorary member of the Ukrainian Construction Chamber and the Association „Insurance Business”, which involves over 70 insurance companies and takes an active role in the social life of Ukrainian capital.
Strong sides:
- The reputation of a reliable, professional partner which fulfils its contractual obligations to its customers on time and in full
- Availability of a wide range of insurance services and insurance plans for those who appreciate full insurance coverage
- Commitment to customers both at the stage of making the contract and its follow-up
- Preferential conditions in case of extending the insurance agreements
- Reliable reinsurance coverage
- Qualified personnel of the Company capable of providing quality insurance service
- High competence standards and result orientation of Company top managers
- Reengineering of business-processes which ensures flexibility in management in response to changes in the market environment
- Company culture integrity
- Availability of branch and agent network in 11 oblasts of Ukraine, Autonomous Republic of Crimea, Kyiv and Sebastopol
- Focused advertising and PR activities. Focus on potential and actual clients of the Company. Development of loyalty programs
- Diversified distribution channels
- The company staff is not numerous but is well-balanced in skills and competencies
Opportunities:
- Growth potential of insurance market and its potential size
- Attraction of investments into the Company
- Favorable national insurance legislation
Company competitive advantages:
- The reputation of a reliable, professional partner which fulfils its contractual obligations to its customers on time and in full
- Availability of a wide range of insurance services and insurance plans for those who appreciate full insurance coverage
- Commitment to its customers both at the stage of making the contract and its follow-up
- Preferential conditions in case of extending the insurance agreements
- Reliable reinsurance coverage
Company strategic priorities:
- Long-term perspective based on continuous development of new insurance products and geography reach of the Company (opening of new branches in all areas of Ukraine)
- Key Company assets are its clients. Segmentation of insurance market clients, development of new insurance products and providing insurances services meeting their needs and expectations
- Focus on balancing the insurance portfolio
- Competitive reinsurance programs
- Reinsurance – optional with local insurance companies and insurance companies with foreign investments and gradual transition to obligatory contracts.
In six years of operation in the local insurance and financial market the Company has gained the reputation of a reliable insurance partner that practices advanced and flexible approaches in relations with customers and during this period has shaped itself as the full-service insurance company committed to protecting health and well-being of Ukrainian people and the property interests of national enterprises by offering them a full range of insurance services, and that in its turn enhances the standards of the local insurance culture. The main task facing the Company today is to increase its share in the local insurance market by way of strengthening its positions in the corporate segment simultaneously accelerating its growth in insurance retail sector.
STRATEGIC TARGETS OF THE COMPANY FOR 2010-2011
- Increasing the Company profitability through growing its share in the local insurance market
- Maintaining of service quality standards and continuous development of new insurance programs and policies with the account of the needs and expectations of the Company’s clients
- Enhancing of the loyalty of clients based on development of long-term and mutually beneficial relations.
With the objective of achieving the set targets shareholders are considering the possibilities of involving the portfolio investor. The raised money will be channeled primarily at the further development of the insurance company and specifically at setting-up new mini-offices in shopping centers; opening of a call centre; supply of the information and promotional materials to the head office and regional networks. We have estimated that the implementation of this action plan will allow the investors to receive their dividends already in two years of the company operations.
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