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On November 6th, 2019, FFHL Group Ltd., a subsidiary of Fairfax Financial Holdings Limited (Canada) - a financial services holding company headquartered in Toronto (Canada), acquired a controlling stake of Insurance Company Universalna, which was previously part of OKKO Group holding.
OKKO Group founder Vitaly Antonov, who previously held the position of chairman of the company's Supervisory Board, commented on the decision of vendition of ‘’Universalna’’ shares: "This action is a well-considered decision. Over the years of its work on the market, it has acquired a certain value, including financial value. ’Universalna’’ is a transparent and stable company with professional management, which, by the way, is one of the few insurance companies in Ukraine that undergoes an annual international audit. According to the rating Forinsurer, it is among the TOP-10 insurance companies of Ukraine and has rating of financial reliability on the national scale at the level of uaАА+".
Note also that Fairfax Financial Holding Limited is an international company that has been operating in the market since 1985 and today has strong positions in the Canadian and American insurance markets, and also operates in Southeast Asia, Eastern Europe, the Middle East and Brazil. As a result of the agreement and according to the decision of the new owners, there are planned no changes in the operational activities of “Universalna” Insurance Company, and all insurance contracts remain valid in accordance with all the concluded terms.
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