The shareholders of ZAT Brama Life Insurance Company have decided to increase its statutory capital by 50 million, to 61 million hryvnias. The decision came during a shareholder meeting on June 23.

According to an earlier UNIAN report, the company plans to issue 5 million of ordinary registered shares with a face value of 10 hryvnias each.

A private share placement will be held in two stages: between Aug. 12 and Aug. 30, 2008, and between Sep. 1 and Sep. 3, 2008.

UNIAN reference: ZAT Brama Life Insurance Company was registered in September 2004.

In the first quarter of 2008, the company collected 18.2 million hryvnias of insurance premiums and paid 113,400 hryvnias in insurance indemnities.

At the end of March, the company’s insurance reserves amounted to 14.05 million, its assets totaled 52.55 million, and its statutory fund stood at 11 million hryvnias.

As of December 2007, Delta Bank’s owner Mykola Lahun controlled the company.

In April 2008, the Antimonopoly Committee of Ukraine approved the sale of Brama Life to Watkino Investments Limited, based in Limassol, Cyprus.