FFHL Group Ltd., a subsidiary of Fairfax Financial Holdings Limited (Canada), a financial services holding company headquartered in Toronto (Canada), on November 6, 2019 acquired a controlling stake in Universalna insurance company (Kyiv), according to the insurer’s website. The company also reports that as a result of the transaction, no changes are planned in the operating activities of Universalna insurance Company, and all insurance contracts remain valid in accordance with the conditions under which they were concluded.
In addition, under this agreement, no additional actions are required from the clients or partners of Universalna, and the company continues its operations.
As reported, at the beginning of October 2019 FFH Ukraine Holdings LLC (Kyiv) announced its intention to acquire 136.021 million shares, or 70.58% of the charter capital of Universalna insurance company. It was planned to purchase shares at a nominal value of UAH 1 per share.
Universalna insurer was founded in 1991. It specializes in providing services in the field of risk insurance. It offers services on 42 types of insurance, the regional network has more than 300 sales points throughout Ukraine.