Group news

VAB Insurance increases benefit payments
During the first 3 months of 2008 VAB Insurance received 2.1 times more insurance premium and paid 3.3 times more insurance compensations than within the similar period in 2007.

VAB Leasing opened representative office in Dnepropetrovsk
The representative office provides all the range of leasing services in Dnepropetrovsk region for individuals and legal entities.

VAB Asset Management launches a new service
According to the VAB Asset Management President Tatiana Popova, the company launched a program which will help to manage assets for insurance companies. In the world practice insurance companies are usually the biggest investors. And this type of services is widely used there, except for Ukraine. It is a totally new service for the Ukrainian financial market, because only a few asset management companies , one of them is VAB Asset Management, provide asset management for insurance companies.

VAB RE became a strategic partner of the Third International Conference on underwriting and reinsurance "Kyiv Spring-2008"
Reinsurance Company VAB RE will participate in the Third International Conference on underwriting and reinsurance "Kyiv Spring-2008" as a strategic partner of the forum. "Kyiv Spring-2008” will be held on May 15-16th, 2008 in the President Hotel “Kyivskiy” (Kyiv).

VAB Bank repaid US$ 51,000,000 Syndicated Term Loan Facility
On 25 April 2008 VAB Bank repaid US$ 51,000,000 Syndicated Term Loan Facility lead arranged by UniCredit Markets & Investment Banking, Landesbank Berlin AG, Raiffeisen Zentralbank Osterreich AG.

VAB Bank created a Private Banking department
According to the VAB Bank, for the last two years, the number of clients, who would like to get the private banking services, had doubled.

VAB Bank was chosen the “Brand of the year - 2008”
VAB Bank’ brand was chosen in the nomination of “Excellent reputation” among other banks in the Ukrainian annual contest “Brand of the year - 2008”. This information was reported by the contest organizers.

VAB will involve “Mystery shopper” to evaluate the quality of services
On May 14th VAB Group held a press-briefing about “The Competition in banking sector: focus on retail”. Chairman of the Management Board of VAB Group Peter Baron and VAB Bank’s Deputy Chairman of the Management Board responsible for retail business, Zhanna Alekseyeva took part in this briefing.

Recognition of VAB Brand reaches 47%
According to the research made by the Innovative Research Solution marketing agency VAB Brand is well known to the half of the respondents, who characterized it to be a “modern, dynamic and European” brand.

In Q1 2008, VAB Re paid over UAH 5 million under its reinsurance agreements
Alla Voloshina, VAB Re Chairman of the Board, informed about this on April 4th, 2008. Since the beginning of the year, VAB Re made several large reinsurance payments under its Casco car insurance agreements and property reinsurance agreements. Also, the company paid compensations for more than 1100 insurance cases during this period. The total amount for the three largest reimbursements reaching more than half a million UAH.