Fidem Life completed the procedure of international audit for 2010. Verification of financial reporting in compliance with IFRS was conducted by one of the leading international audit firms, operating in Ukraine, - PricewaterhouseCoopers.

According to the audit results, financial statement of the company was declared trustworthy and transparent that completely adheres to international standards. In particular, gross consolidated insurance premiums collected by Fidem Life in 2010 amounted to UAH 31.161 million, which is almost 30% higher than the previous year – UAH 24.232 million, insurance reserves came to UAH 44.298 million, assets totaled UAH 118.438 million.

It’s worth mentioning that the above-mentioned results were achieved thanks to balanced development of sales channels, professional asset management, increase of operation efficiency and client service, as well as implementation of new insurance products and IT technologies.

“We are glad to confirm the quality of Fidem Life financial statement in accordance with internationally recognized standards. Financial stability, transparency and accountability before Fidem Life clients are the key factors which we consider while making decisions. That’s why we will further continue to have a long-term investment policy and verify our reporting according to international standards to make sure that at any time we can meet our obligations before our clients and prove our life insurance expertise”, - Tetyana Nemyrovych, First Deputy CEO of Fidem Life commented.

Fidem Life is a life insurance company, which provides its clients with all types of life insurance products: long-term endowment insurance, pension insurance, credit life insurance, term, as well as accident and health insurance. As of 1.04.2011 the equity capital of the company amounts to UAH 45 000 thousand, assets – UAH 115 655 thousand, actuarial reserves - UAH 49 110 thousand.

The company’s representative offices operate in all regional centers of Ukraine, as well as Crimea and Sevastopol. Fidem Life reinsuring partners are Munich Re (Germany) and SCOR Global Life (France). The company is a member of the League of Insurance Organizations of Ukraine, Ukrainian Insurance Federation and European Business Association.