AS HANSAPANK

ANNOUNCEMENT

17.03.99 

 

DECISIONS OF THE COUNCIL OF EESTI KINDLUSTUS

 

 

On March 16, the council of Eesti Kindlustus nominated the new 

members of the board – the Sales Director of Eesti 

Varakindlustus, Mr Eduard Saul and the Insurance Director Mr 

Mihkel Uibopuu. The chairman of the board is Mr Mart Mägi. The 

council decided to merge AS Eesti Kindlustus and AS Eesti 

Varakindlustus and the structure of the new organisation was 

approved.

 

The council also approved the financial results of 1998 and the 

plans and strategies for 1999. The goals of Eesti Kindlustus 

for 1999 are to achieve a market share of 21%, the gross cost 

ratio of 45% and the gross combined ratio of 104%.

 

The Council also decided to make a proposal to the shareholder 

to increase the share capital of AS Eesti Kindlustus through a 

closed stock issue, by issuing 100,000 new shares with a par 

value of 10 kroons and a premium of 240 kroons per share.

 

Additional information:

Piret Kütt

PR Director of Eesti Kindlustus

+372 6207 851

 

 

 

AS HANSAPANK

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569