UKRAINE: ASKA and VUSO merger completed

13 April 2023 —
At the general meeting of the VUSO and ASKA management on March 22, 2023, it was finally decided to merge ASKA insurance company to VUSO and continue to work under a single brand. At the same time, all assets and liabilities of ASKA are transferred to VUSO, Forinsurer reports.

The merger was initiated back in December 2022. Reorganization procedure was successfully completed despite the difficult situation in the market and in the country.

"This step allowed us to increase presence of VUSO in the corporate segment of the insurance market thanks to ASKA's long-term relationships with large corporate clients, as well as to create a major player with Ukrainian capital among insurers. Positive consequences of the merger can be already seen in independent ratings, in voluntary health insurance, Green Card and property fire perils insurance", said Mikhail NAZARCHUK, Chairman of the Supervisory Board of the VUSO.

VUSO has been operating in the Ukrainian market since 2001, has 50 licenses: 33 for voluntary and 17 for compulsory types of insurance. The company specializes in motor, medical and travel insurance for private and corporate clients. It is a member of the MTIBU, the Nuclear Pool, a participant in the direct settlement project, a member of the National Association of Insurers of Ukraine, has a financial stability (reliability) rating at uaAA. According to FY2022 results, the company is among the top 10 insurance companies of Ukraine in terms of GWP.